Lazard Asset Management LLC Lowers Stock Holdings in CRH plc (NYSE:CRH)

Lazard Asset Management LLC reduced its position in CRH plc (NYSE:CRH) by 28.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,414,590 shares of the construction company’s stock after selling 1,389,513 shares during the quarter. Lazard Asset Management LLC’s holdings in CRH were worth $315,916,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Arkadios Wealth Advisors boosted its position in CRH by 4.9% in the 4th quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock worth $216,000 after purchasing an additional 109 shares in the last quarter. Covestor Ltd grew its holdings in CRH by 20.4% in the fourth quarter. Covestor Ltd now owns 755 shares of the construction company’s stock valued at $70,000 after purchasing an additional 128 shares during the period. Parallel Advisors LLC grew its stake in CRH by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock valued at $630,000 after acquiring an additional 129 shares during the period. First Eagle Investment Management LLC increased its stake in shares of CRH by 3.2% during the fourth quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock worth $405,000 after purchasing an additional 136 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of CRH by 18.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock worth $90,000 after purchasing an additional 150 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors.

CRH Price Performance

Shares of NYSE CRH opened at $94.70 on Monday. The company has a market capitalization of $63.98 billion, a P/E ratio of 18.94, a P/E/G ratio of 1.15 and a beta of 1.33. The company has a 50 day simple moving average of $91.43 and a 200-day simple moving average of $96.20. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97.

CRH (NYSE:CRH) last announced its quarterly earnings results on Monday, May 5th. The construction company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.77 billion. CRH had a net margin of 9.86% and a return on equity of 16.35%. As a group, research analysts expect that CRH plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.37 per share. The ex-dividend date is Friday, May 23rd. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. CRH’s payout ratio is currently 23.52%.

Analyst Upgrades and Downgrades

Several research firms have commented on CRH. Berenberg Bank set a $120.00 price objective on CRH in a research note on Friday, February 28th. Royal Bank of Canada decreased their price objective on CRH from $127.00 to $108.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. The Goldman Sachs Group reissued a “neutral” rating on shares of CRH in a research note on Tuesday, May 6th. Finally, StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $112.36.

About CRH

CRH plc, together with its subsidiaries, provides building materials solutions in Ireland and internationally. It operates through four segments: Americas Materials Solutions, Americas Building Solutions, Europe Materials Solutions, and Europe Building Solutions. The company provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings; and produces and sells aggregates, cement, readymixed concrete, and asphalt, as well as provides paving and construction services.