Hsbc Holdings PLC trimmed its holdings in CRH plc (NYSE:CRH - Free Report) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 869,971 shares of the construction company's stock after selling 374,001 shares during the period. Hsbc Holdings PLC owned about 0.12% of CRH worth $60,021,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Orion Capital Management LLC grew its stake in shares of CRH by 100.0% during the fourth quarter. Orion Capital Management LLC now owns 400 shares of the construction company's stock valued at $28,000 after buying an additional 200 shares during the last quarter. Pinnacle Bancorp Inc. bought a new position in shares of CRH during the fourth quarter valued at approximately $30,000. UMB Bank n.a. bought a new position in shares of CRH during the fourth quarter valued at approximately $33,000. WASHINGTON TRUST Co bought a new position in shares of CRH during the fourth quarter valued at approximately $35,000. Finally, Chilton Capital Management LLC bought a new position in shares of CRH during the fourth quarter valued at approximately $35,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.
CRH Price Performance
Shares of NYSE CRH traded down $1.11 during mid-day trading on Wednesday, hitting $78.14. The stock had a trading volume of 2,286,783 shares, compared to its average volume of 3,617,241. The company has a 50 day moving average of $81.99 and a two-hundred day moving average of $74.80. CRH plc has a twelve month low of $47.14 and a twelve month high of $88.00.
CRH (NYSE:CRH - Get Free Report) last announced its quarterly earnings results on Friday, May 10th. The construction company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.04. The company had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.60 billion. As a group, equities research analysts forecast that CRH plc will post 5.36 earnings per share for the current year.
CRH Increases Dividend
The firm also recently announced a Variable dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, May 24th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, May 23rd. This is a boost from CRH's previous Variable dividend of $0.23. This represents a dividend yield of 1.7%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Citigroup boosted their price target on CRH from $101.00 to $106.00 and gave the company a "buy" rating in a report on Friday, April 5th. Stifel Nicolaus restated a "hold" rating and set a $82.00 target price (up previously from $80.00) on shares of CRH in a report on Monday, April 15th. Royal Bank of Canada initiated coverage on CRH in a report on Tuesday, May 14th. They set an "outperform" rating and a $110.00 target price for the company. Vertical Research initiated coverage on CRH in a report on Friday, March 22nd. They set a "buy" rating and a $105.00 target price for the company. Finally, Jefferies Financial Group upped their target price on CRH from $89.70 to $100.00 and gave the stock a "buy" rating in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.28.
Check Out Our Latest Stock Analysis on CRH
About CRH
(Free Report)
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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