Perpetual Ltd Sells 451,109 Shares of CRH plc (NYSE:CRH)

Perpetual Ltd reduced its position in shares of CRH plc (NYSE:CRH) by 16.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,336,948 shares of the construction company’s stock after selling 451,109 shares during the quarter. CRH comprises approximately 2.6% of Perpetual Ltd’s portfolio, making the stock its 8th biggest holding. Perpetual Ltd’s holdings in CRH were worth $216,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRH. FMR LLC raised its stake in CRH by 33.4% during the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after acquiring an additional 9,055,354 shares in the last quarter. Legal & General Group Plc boosted its position in CRH by 36,503.4% in the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after buying an additional 4,825,752 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CRH by 515.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock worth $473,270,000 after buying an additional 4,274,336 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of CRH by 173.0% in the 2nd quarter. Bank of Montreal Can now owns 2,128,963 shares of the construction company’s stock valued at $160,183,000 after acquiring an additional 1,349,023 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in CRH in the 2nd quarter worth about $86,830,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Price Performance

CRH stock opened at $97.69 on Tuesday. The firm has a market capitalization of $66.35 billion, a P/E ratio of 19.54, a PEG ratio of 1.06 and a beta of 1.31. CRH plc has a one year low of $68.15 and a one year high of $104.23. The business has a fifty day moving average price of $97.37 and a 200-day moving average price of $90.77.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were given a $0.262 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio (DPR) is presently 21.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HSBC assumed coverage on shares of CRH in a report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price target on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Barclays started coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective on the stock. Finally, Citigroup reduced their target price 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. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $107.75.

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.