M&T Bank Corp Sells 4,861 Shares of CRH plc (NYSE:CRH)

M&T Bank Corp lowered its holdings in CRH plc (NYSE:CRH) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,613 shares of the construction company’s stock after selling 4,861 shares during the quarter. M&T Bank Corp’s holdings in CRH were worth $2,601,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of CRH in the 3rd quarter valued at approximately $1,484,901,000. Barclays PLC bought a new stake in CRH in the third quarter valued at $941,562,000. Greenhaven Associates Inc. raised its stake in CRH by 0.9% during the fourth quarter. Greenhaven Associates Inc. now owns 11,141,937 shares of the construction company’s stock worth $770,576,000 after acquiring an additional 103,510 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of CRH by 1,136.3% during the third quarter. Invesco Ltd. now owns 8,587,277 shares of the construction company’s stock valued at $469,982,000 after acquiring an additional 7,892,691 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of CRH in the 3rd quarter valued at $418,653,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Stock Performance

Shares of CRH opened at $79.79 on Thursday. The stock’s 50-day moving average price is $82.40 and its two-hundred day moving average price is $72.07. CRH plc has a 1 year low of $47.14 and a 1 year high of $88.00.

CRH (NYSE:CRH) last released its quarterly earnings data on Thursday, February 29th. The construction company reported $1.29 earnings per share for the quarter. The firm had revenue of $8.69 billion for the quarter. On average, research analysts forecast that CRH plc will post 5.36 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently declared a Variable dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, March 15th were issued a $0.262 dividend. This represents a dividend yield of 2%. The ex-dividend date was Thursday, March 14th.

Analyst Upgrades and Downgrades

CRH has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of CRH from $81.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Jefferies Financial Group raised their price objective on shares of CRH from $89.70 to $100.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Vertical Research started coverage on CRH in a report on Friday, March 22nd. They issued a “buy” rating and a $105.00 target price on the stock. Stifel Nicolaus restated a “hold” rating and set a $82.00 price target (up from $80.00) on shares of CRH in a research report on Monday, April 15th. Finally, StockNews.com upgraded CRH from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 27th. Two investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.31.

About CRH

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.