CI Investments Inc. lessened its position in Crh Plc (NYSE:CRH – Free Report) by 65.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 241,936 shares of the construction company’s stock after selling 460,033 shares during the quarter. CI Investments Inc.’s holdings in CRH were worth $25,432,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of CRH by 22.7% in the 4th quarter. Vanguard Group Inc. now owns 79,117,664 shares of the construction company’s stock worth $9,873,884,000 after purchasing an additional 14,623,673 shares in the last quarter. State Street Corp raised its holdings in shares of CRH by 81.3% during the 4th quarter. State Street Corp now owns 24,895,205 shares of the construction company’s stock valued at $3,106,927,000 after buying an additional 11,167,189 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CRH by 67.3% during the 4th quarter. Geode Capital Management LLC now owns 14,709,575 shares of the construction company’s stock valued at $1,827,252,000 after buying an additional 5,916,930 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in CRH by 0.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,439,954 shares of the construction company’s stock worth $1,552,506,000 after buying an additional 78,769 shares during the last quarter. Finally, Norges Bank purchased a new stake in CRH in the fourth quarter worth approximately $1,476,939,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.
CRH Stock Performance
Shares of NYSE:CRH opened at $100.08 on Thursday. The firm has a market cap of $66.87 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 1.72 and a beta of 1.32. The business has a 50-day simple moving average of $105.67 and a two-hundred day simple moving average of $112.61. Crh Plc has a fifty-two week low of $93.58 and a fifty-two week high of $131.55.
CRH Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Friday, May 15th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.6%. CRH’s dividend payout ratio is 28.89%.
Analysts Set New Price Targets
Several equities analysts recently commented on CRH shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of CRH in a report on Tuesday, June 23rd. Wells Fargo & Company cut their price target on shares of CRH from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings cut CRH from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $139.00 target price on shares of CRH in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group lifted their price target on shares of CRH from $149.00 to $165.60 and gave the company a “buy” rating in a report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, CRH has an average rating of “Buy” and a consensus target price of $141.19.
Check Out Our Latest Stock Analysis on CRH
About CRH
CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.
CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.
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