Marshall Wace LLP Increases Stake in CRH plc (NYSE:CRH)

Marshall Wace LLP grew its stake in shares of CRH plc (NYSE:CRH) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,819,389 shares of the construction company’s stock after purchasing an additional 392,028 shares during the quarter. CRH makes up approximately 0.4% of Marshall Wace LLP’s portfolio, making the stock its 25th biggest position. Marshall Wace LLP’s holdings in CRH were worth $353,370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in CRH during the 4th quarter valued at $1,391,245,000. FMR LLC boosted its holdings in shares of CRH by 13.0% during the fourth quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock worth $3,781,004,000 after purchasing an additional 4,687,345 shares during the period. Franklin Resources Inc. grew its stake in shares of CRH by 17.0% in the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock worth $1,553,194,000 after purchasing an additional 2,437,868 shares during the last quarter. AGF Management Ltd. increased its holdings in CRH by 4,264.7% during the 4th quarter. AGF Management Ltd. now owns 1,034,527 shares of the construction company’s stock valued at $95,714,000 after purchasing an additional 1,010,825 shares during the period. Finally, National Bank of Canada FI raised its position in CRH by 32,560.1% during the 4th quarter. National Bank of Canada FI now owns 951,714 shares of the construction company’s stock valued at $88,053,000 after purchasing an additional 948,800 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

CRH has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on CRH from $127.00 to $108.00 and set an “outperform” rating on the stock in a research report on Monday. Berenberg Bank set a $120.00 price objective on shares of CRH in a research report on Friday, February 28th. JPMorgan Chase & Co. decreased their price objective 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. Loop Capital assumed coverage on shares of CRH in a research note on Wednesday, April 9th. They set a “buy” rating and a $114.00 target price on the stock. Finally, Citigroup decreased their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $112.36.

CRH Stock Performance

CRH stock opened at $86.00 on Wednesday. The firm has a 50 day moving average price of $95.71 and a 200-day moving average price of $96.14. CRH plc has a 52-week low of $71.18 and a 52-week high of $110.97. The firm has a market capitalization of $58.16 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.72%. CRH’s payout ratio is presently 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.