Beach Investment Counsel Inc. PA Sells 52,522 Shares of CRH plc (NYSE:CRH)

Beach Investment Counsel Inc. PA cut its stake in CRH plc (NYSE:CRH - Free Report) by 31.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,802 shares of the construction company's stock after selling 52,522 shares during the period. CRH makes up 1.5% of Beach Investment Counsel Inc. PA's holdings, making the stock its 21st largest position. Beach Investment Counsel Inc. PA's holdings in CRH were worth $10,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Spire Wealth Management bought a new position in shares of CRH during the 4th quarter worth approximately $57,000. Stratos Wealth Partners LTD. bought a new position in CRH in the fourth quarter valued at $280,000. Financial Advocates Investment Management increased its stake in CRH by 10.3% in the 4th quarter. Financial Advocates Investment Management now owns 2,963 shares of the construction company's stock valued at $274,000 after buying an additional 277 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in CRH by 7.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,962 shares of the construction company's stock valued at $144,605,000 after buying an additional 114,072 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of CRH by 19.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 72,778 shares of the construction company's stock worth $6,733,000 after buying an additional 12,076 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Trading Up 0.7%

Shares of NYSE:CRH traded up $0.66 during trading on Monday, reaching $93.20. 3,466,498 shares of the stock were exchanged, compared to its average volume of 5,463,412. CRH plc has a 12 month low of $71.18 and a 12 month high of $110.97. The stock has a 50-day moving average price of $91.09 and a 200-day moving average price of $95.72. The firm has a market cap of $62.97 billion, a PE ratio of 18.64, a PEG ratio of 1.15 and a beta of 1.28.

CRH (NYSE:CRH - Get Free Report) last released its quarterly 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). The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.77 billion. CRH had a net margin of 9.86% and a return on equity of 16.35%. On average, sell-side analysts expect that CRH plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Friday, May 23rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. CRH's dividend payout ratio (DPR) is presently 23.52%.

Analyst Ratings Changes

Several analysts recently issued reports on CRH shares. 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 report on Monday, April 14th. Wall Street Zen upgraded CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Berenberg Bank set a $120.00 price objective on CRH in a report on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, CRH presently has a consensus rating of "Buy" and an average price target of $112.58.

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.