Phoenix Financial Ltd. Sells 9,877 Shares of CRH plc (NYSE:CRH)

Phoenix Financial Ltd. lowered its holdings in shares of CRH plc (NYSE:CRH) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,406 shares of the construction company’s stock after selling 9,877 shares during the quarter. Phoenix Financial Ltd.’s holdings in CRH were worth $7,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Arkadios Wealth Advisors grew 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 during the last quarter. Parallel Advisors LLC grew its position in CRH by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock worth $630,000 after purchasing an additional 129 shares during the last quarter. First Eagle Investment Management LLC grew its position in CRH by 3.2% in the 4th 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 during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in CRH by 18.3% in 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. Finally, Shelton Capital Management boosted its position in shares of CRH by 1.1% during the 4th quarter. Shelton Capital Management now owns 14,475 shares of the construction company’s stock valued at $1,339,000 after acquiring an additional 151 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Citigroup cut their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. Berenberg Bank set a $120.00 price target on shares of CRH in a report on Friday, February 28th. Finally, Loop Capital initiated coverage on shares of CRH in a report on Wednesday. They set a “buy” rating and a $114.00 price target for the company. 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. According to data from MarketBeat.com, CRH presently has a consensus rating of “Buy” and an average target price of $110.00.

CRH Price Performance

CRH opened at $89.11 on Thursday. The company has a market cap of $60.26 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The firm has a 50 day simple moving average of $96.96 and a 200 day simple moving average of $96.35. CRH plc has a fifty-two week low of $71.18 and a fifty-two week high of $110.97.

CRH Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.66%. This is an increase from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. CRH’s payout ratio is 22.66%.

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.