Swiss National Bank Sells 110,700 Shares of CRH plc (NYSE:CRH)

Swiss National Bank cut its position in shares of CRH plc (NYSE:CRH) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,928,860 shares of the construction company’s stock after selling 110,700 shares during the quarter. Swiss National Bank’s holdings in CRH were worth $178,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of CRH by 7.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company’s stock worth $144,605,000 after purchasing an additional 114,072 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of CRH by 22.1% during the 4th quarter. Park Avenue Securities LLC now owns 32,557 shares of the construction company’s stock worth $3,012,000 after purchasing an additional 5,889 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of CRH by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,450,632 shares of the construction company’s stock worth $226,732,000 after purchasing an additional 232,977 shares during the last quarter. Merit Financial Group LLC increased its stake in shares of CRH by 31.8% during the 4th quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company’s stock worth $2,151,000 after purchasing an additional 5,610 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of CRH by 19.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company’s stock worth $6,733,000 after purchasing an additional 12,076 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Trading Down 3.8 %

Shares of CRH stock opened at $94.68 on Friday. The company has a 50 day moving average of $99.29 and a 200-day moving average of $95.98. 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 $64.09 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, March 14th. This is an increase from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio is 20.87%.

Analysts Set New Price Targets

A number of brokerages recently commented on CRH. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Berenberg Bank set a $120.00 price target on shares of CRH in a research note on Friday, February 28th. JPMorgan Chase & Co. cut 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. Finally, Citigroup cut their price objective 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. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CRH currently has an average rating of “Buy” and an average price target of $109.25.

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.