Prudential Financial Inc. Boosts Stake in CRH plc (NYSE:CRH)

Prudential Financial Inc. increased its holdings in shares of CRH plc (NYSE:CRH) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 270,900 shares of the construction company’s stock after acquiring an additional 30,541 shares during the quarter. Prudential Financial Inc.’s holdings in CRH were worth $25,064,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRH. Arkadios Wealth Advisors grew its position in shares of CRH by 4.9% in the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company’s stock valued at $216,000 after purchasing an additional 109 shares in the last quarter. Parallel Advisors LLC grew its holdings in CRH by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 6,810 shares of the construction company’s stock valued at $630,000 after buying an additional 129 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of CRH by 3.2% in the 4th quarter. First Eagle Investment Management LLC now owns 4,367 shares of the construction company’s stock worth $405,000 after acquiring an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of CRH by 18.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 971 shares of the construction company’s stock worth $90,000 after acquiring an additional 150 shares during the period. Finally, Manitou Investment Management Ltd. boosted its position in shares of CRH by 1.4% during the 4th quarter. Manitou Investment Management Ltd. now owns 11,203 shares of the construction company’s stock valued at $1,037,000 after acquiring an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of NYSE:CRH opened at $94.63 on Thursday. The firm has a market capitalization of $64.00 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97. The firm’s 50-day moving average is $100.03 and its two-hundred day moving average is $96.61.

CRH Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. This is an increase from CRH’s previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, March 14th. CRH’s dividend payout ratio is presently 15.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CRH shares. Citigroup reduced their target price on shares of CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Berenberg Bank set a $120.00 target price on CRH in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. reduced their target price on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $109.64.

CRH Company 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.