Bank of Montreal Can Sells 43,225 Shares of CRH plc (NYSE:CRH)

Bank of Montreal Can decreased its stake in shares of CRH plc (NYSE:CRH) by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,168 shares of the construction company’s stock after selling 43,225 shares during the quarter. Bank of Montreal Can owned approximately 0.05% of CRH worth $32,768,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its holdings in shares of CRH by 4.9% in the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock valued at $216,000 after acquiring an additional 109 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of 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 purchasing an additional 129 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of 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 period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of CRH by 18.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock valued at $90,000 after purchasing an additional 150 shares in the last quarter. Finally, Manitou Investment Management Ltd. increased its holdings in CRH by 1.4% during the fourth quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company’s stock valued at $1,037,000 after buying an additional 160 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRH has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Citigroup cut their target price on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Loop Capital started coverage on shares of CRH in a report on Wednesday. They issued a “buy” rating and a $114.00 price target on the stock. Berenberg Bank set a $120.00 price objective on shares of CRH in a research note on Friday, February 28th. Finally, StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, CRH currently has a consensus rating of “Buy” and an average price target of $110.00.

CRH Price Performance

NYSE CRH opened at $83.24 on Friday. The stock’s fifty day moving average price is $96.68 and its 200 day moving average price is $96.29. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The company has a market cap of $56.30 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. CRH’s dividend payout ratio (DPR) is presently 22.66%.

CRH Profile

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.