Desjardins Global Asset Management Inc. Has $3.20 Million Stock Position in CRH plc (NYSE:CRH)

Desjardins Global Asset Management Inc. lowered its position in shares of CRH plc (NYSE:CRH) by 52.6% in the fourth quarter, HoldingsChannel reports. The firm owned 46,331 shares of the construction company’s stock after selling 51,416 shares during the period. Desjardins Global Asset Management Inc.’s holdings in CRH were worth $3,204,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Wealth Alliance increased its position in CRH by 19.1% in the 4th quarter. Wealth Alliance now owns 5,453 shares of the construction company’s stock valued at $377,000 after acquiring an additional 876 shares in the last quarter. Cookson Peirce & Co. Inc. increased its position in CRH by 9.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 9,095 shares of the construction company’s stock valued at $629,000 after acquiring an additional 813 shares in the last quarter. Imprint Wealth LLC increased its position in CRH by 12.5% in the 4th quarter. Imprint Wealth LLC now owns 4,634 shares of the construction company’s stock valued at $324,000 after acquiring an additional 516 shares in the last quarter. SVB Wealth LLC increased its position in CRH by 30.3% in the 4th quarter. SVB Wealth LLC now owns 5,173 shares of the construction company’s stock valued at $358,000 after acquiring an additional 1,203 shares in the last quarter. Finally, Grove Bank & Trust acquired a new stake in CRH in the 4th quarter valued at about $90,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Down 0.9 %

CRH stock traded down $0.70 during midday trading on Tuesday, hitting $79.61. 2,812,699 shares of the stock were exchanged, compared to its average volume of 3,652,926. The company has a fifty day simple moving average of $81.63 and a two-hundred day simple moving average of $69.55. CRH plc has a 52 week low of $47.14 and a 52 week high of $88.00.

CRH Dividend Announcement

The company also recently disclosed a Variable dividend, which will be paid on Wednesday, April 17th. Investors of record on Friday, March 15th will be paid a dividend of $0.262 per share. This represents a yield of 2%. The ex-dividend date of this dividend is Thursday, March 14th.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stifel Nicolaus restated a “hold” rating and issued a $82.00 price objective (up previously from $80.00) on shares of CRH in a research report on Monday. StockNews.com raised shares of CRH from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Citigroup raised their target price on shares of CRH from $101.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Jefferies Financial Group raised their target price on shares of CRH from $89.70 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, DA Davidson started coverage on shares of CRH in a research note on Friday, January 19th. They issued a “buy” rating and a $82.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.31.

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.