The Manufacturers Life Insurance Company Sells 210,444 Shares of CRH plc (NYSE:CRH)

The Manufacturers Life Insurance Company reduced its position in CRH plc (NYSE:CRH - Free Report) by 18.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 911,104 shares of the construction company's stock after selling 210,444 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.13% of CRH worth $84,316,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC increased its position in shares of CRH by 13.0% in the fourth 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. Vanguard Group Inc. grew its stake in CRH by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company's stock worth $3,624,719,000 after buying an additional 145,101 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of CRH by 17.0% in the 4th quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company's stock worth $1,553,194,000 after buying an additional 2,437,868 shares during the last quarter. Norges Bank purchased a new stake in shares of CRH during the 4th quarter valued at $1,391,245,000. Finally, Bank of New York Mellon Corp grew its position in CRH by 10.6% in the fourth quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company's stock worth $796,546,000 after acquiring an additional 826,758 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Up 0.4 %

NYSE:CRH opened at $93.44 on Wednesday. CRH plc has a twelve month low of $71.18 and a twelve month high of $110.97. The stock has a market cap of $63.19 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The firm's fifty day simple moving average is $92.24 and its 200 day simple moving average is $96.01.

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 given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. This is a boost from CRH's previous quarterly dividend of $0.23. CRH's payout ratio is currently 22.66%.

Wall Street Analyst Weigh In

CRH has been the subject of several research analyst reports. StockNews.com raised CRH from a "hold" rating to a "buy" rating in a research note on Thursday, February 27th. Berenberg Bank set a $120.00 target price on CRH in a research note on Friday, February 28th. Citigroup decreased their target price on shares of CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada dropped their target price on CRH from $127.00 to $108.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on CRH from $118.00 to $114.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $112.36.

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.

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