Zimmer Partners LP Reduces Stock Position in CRH plc (NYSE:CRH)

Zimmer Partners LP lowered its stake in CRH plc (NYSE:CRH - Free Report) by 27.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,950 shares of the construction company's stock after selling 55,050 shares during the quarter. Zimmer Partners LP's holdings in CRH were worth $13,411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRH. Merit Financial Group LLC boosted its holdings in CRH by 31.8% in the fourth quarter. Merit Financial Group LLC now owns 23,253 shares of the construction company's stock worth $2,151,000 after purchasing an additional 5,610 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in CRH by 4.9% in the fourth quarter. Arkadios Wealth Advisors now owns 2,335 shares of the construction company's stock worth $216,000 after purchasing an additional 109 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new stake in CRH in the fourth quarter worth approximately $206,000. Diversify Wealth Management LLC boosted its holdings in CRH by 11.9% in the fourth quarter. Diversify Wealth Management LLC now owns 11,265 shares of the construction company's stock worth $1,034,000 after purchasing an additional 1,195 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in CRH by 18.3% in the fourth 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. Hedge funds and other institutional investors own 62.50% of the company's stock.

Wall Street Analyst Weigh In

CRH has been the topic of several recent research reports. Morgan Stanley reiterated an "overweight" rating on shares of CRH in a research report on Wednesday, May 7th. The Goldman Sachs Group reiterated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Wall Street Zen upgraded shares of CRH from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price target on shares of CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. Finally, Loop Capital began coverage on shares of CRH in a research report on Wednesday, April 9th. They set a "buy" rating and a $114.00 price objective on the stock. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned 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 $112.58.

CRH Trading Down 1.1%

CRH traded down $1.06 during trading on Friday, hitting $94.10. 5,235,921 shares of the company traded hands, compared to its average volume of 5,818,081. The company has a market cap of $63.58 billion, a PE ratio of 18.82, a P/E/G ratio of 1.15 and a beta of 1.33. The stock's 50-day simple moving average is $91.43 and its two-hundred day simple moving average is $96.30. CRH plc has a 1 year low of $71.18 and a 1 year high of $110.97.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results on Monday, May 5th. The construction company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The company had revenue of $6.76 billion for the quarter, compared to analysts' expectations of $6.77 billion. CRH had a net margin of 9.86% and a return on equity of 16.35%. Equities analysts expect that CRH plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Friday, May 23rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.48 annualized dividend and a yield of 1.57%. CRH's payout ratio is 23.52%.

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.