Neuberger Berman Group LLC Sells 41,970 Shares of CRH plc (NYSE:CRH)

Neuberger Berman Group LLC lessened its stake in CRH plc (NYSE:CRH) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,878,157 shares of the construction company’s stock after selling 41,970 shares during the quarter. Neuberger Berman Group LLC’s holdings in CRH were worth $173,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in CRH by 15.9% during the third quarter. Captrust Financial Advisors now owns 7,958 shares of the construction company’s stock worth $738,000 after buying an additional 1,091 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of CRH during the third quarter worth about $230,000. IHT Wealth Management LLC bought a new position in CRH in the third quarter worth about $240,000. Stifel Financial Corp grew its holdings in shares of CRH by 10.7% during the third quarter. Stifel Financial Corp now owns 104,969 shares of the construction company’s stock valued at $9,735,000 after buying an additional 10,136 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in CRH in the third quarter worth approximately $372,000. 62.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRH has been the subject of a number of recent analyst reports. Loop Capital began coverage on shares of CRH in a research note on Wednesday. They set a “buy” rating and a $114.00 price target for the company. Berenberg Bank set a $120.00 target price on shares of CRH in a report on Friday, February 28th. Citigroup lowered their price objective 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. 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 report on Tuesday, March 11th. Finally, StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $110.00.

CRH Stock Performance

NYSE:CRH opened at $89.11 on Thursday. The firm has a market cap of $60.26 billion, a P/E ratio of 17.82, a P/E/G ratio of 1.15 and a beta of 1.30. CRH plc has a one year low of $71.18 and a one year high of $110.97. The firm has a 50-day simple moving average of $96.96 and a 200-day simple moving average of $96.35.

CRH Increases Dividend

The business also recently announced 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 represents a $1.48 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, March 14th. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio (DPR) is 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.