CRH plc (NYSE:CRH) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC decreased its position in CRH plc (NYSE:CRH - Free Report) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,607,259 shares of the construction company's stock after selling 120,601 shares during the period. CRH accounts for about 1.1% of Lord Abbett & CO. LLC's investment portfolio, making the stock its 11th biggest position. Lord Abbett & CO. LLC owned approximately 0.53% of CRH worth $333,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in CRH during the fourth quarter worth $1,391,245,000. FMR LLC lifted its stake in shares of CRH by 13.0% during the 4th quarter. FMR LLC now owns 40,843,362 shares of the construction company's stock worth $3,781,004,000 after purchasing an additional 4,687,345 shares during the last quarter. Franklin Resources Inc. boosted its position in CRH by 17.0% during the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company's stock valued at $1,553,194,000 after purchasing an additional 2,437,868 shares in the last quarter. AGF Management Ltd. grew its stake in CRH by 4,264.7% in the fourth quarter. AGF Management Ltd. now owns 1,034,527 shares of the construction company's stock valued at $95,714,000 after purchasing an additional 1,010,825 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in CRH by 32,560.1% in the fourth quarter. National Bank of Canada FI now owns 951,714 shares of the construction company's stock worth $88,053,000 after purchasing an additional 948,800 shares in the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Stock Performance

NYSE CRH traded up $1.11 during mid-day trading on Wednesday, reaching $94.57. 2,117,653 shares of the stock were exchanged, compared to its average volume of 5,700,612. The company has a market capitalization of $63.96 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.15 and a beta of 1.30. The business's 50 day moving average is $92.24 and its 200-day moving average is $96.01. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97.

CRH Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Friday, March 14th were paid a $0.37 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. This is a boost from CRH's previous quarterly dividend of $0.23. CRH's dividend payout ratio (DPR) is currently 22.66%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. StockNews.com upgraded CRH from a "hold" rating to a "buy" rating in a report on Thursday, February 27th. Royal Bank of Canada dropped their target price on CRH from $127.00 to $108.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Citigroup lowered their price target on CRH from $120.00 to $115.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Loop Capital initiated coverage on shares of CRH in a report on Wednesday, April 9th. They set a "buy" rating and a $114.00 price objective on the stock. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, CRH has a consensus rating of "Buy" and a consensus target price of $112.36.

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.