Investment Management Corp of Ontario Decreases Stake in CRH plc (NYSE:CRH)

Investment Management Corp of Ontario reduced its holdings in shares of CRH plc (NYSE:CRH) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,688 shares of the construction company’s stock after selling 65,351 shares during the quarter. Investment Management Corp of Ontario’s holdings in CRH were worth $5,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CRH. FMR LLC lifted its stake in CRH by 13.0% during the 4th quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock valued at $3,781,004,000 after acquiring an additional 4,687,345 shares during the period. Vanguard Group Inc. lifted its position in CRH by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock valued at $3,624,719,000 after purchasing an additional 145,101 shares during the period. Franklin Resources Inc. boosted its holdings in 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. Norges Bank bought a new stake in CRH in the 4th quarter worth approximately $1,391,245,000. Finally, Bank of New York Mellon Corp raised its stake in CRH by 10.6% during the 4th quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock valued at $796,546,000 after buying an additional 826,758 shares during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

CRH Stock Performance

Shares of CRH stock opened at $94.70 on Friday. The stock has a fifty day simple moving average of $91.43 and a two-hundred day simple moving average of $96.17. The firm has a market capitalization of $63.98 billion, a PE ratio of 18.94, a PEG ratio of 1.15 and a beta of 1.33. CRH plc has a 52-week low of $71.18 and a 52-week high of $110.97.

CRH (NYSE:CRH) last released its earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). CRH had a return on equity of 16.35% and a net margin of 9.86%. The business had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.77 billion. On average, sell-side analysts forecast that CRH plc will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Friday, May 23rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, May 23rd. CRH’s dividend payout ratio (DPR) is presently 23.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. The Goldman Sachs Group restated a “neutral” rating on shares of CRH in a research note on Tuesday. Loop Capital assumed coverage on shares of CRH in a research note on Wednesday, April 9th. They issued a “buy” rating and a $114.00 price objective on the stock. Morgan Stanley restated an “overweight” rating on shares of CRH in a research report on Wednesday. Finally, Berenberg Bank set a $120.00 price target on shares of CRH in a research report on Friday, February 28th. One equities 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 MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $112.36.

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.