Ameriprise Financial Inc. Has $271.98 Million Stake in Crh Plc $CRH

Key Points

• Ameriprise Financial Inc. has increased its ownership in CRH Plc by 13.7%, now holding a total of 3,094,619 shares valued at approximately $271.98 million.
• CRH has reported quarterly earnings of $1.94 per share, which missed analysts' expectations by $0.12, while revenue grew 5.7% year-over-year.
• A recent dividend of $0.37 per share has been announced, with a dividend yield of 1.3%, reflecting a payout ratio of 23.22%.

Ameriprise Financial Inc. grew its position in Crh Plc (NYSE:CRH - Free Report) by 13.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,094,619 shares of the construction company's stock after acquiring an additional 371,847 shares during the period. Ameriprise Financial Inc. owned 0.46% of CRH worth $271,981,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CRH. Orion Capital Management LLC bought a new position in shares of CRH in the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new position in CRH in the 4th quarter worth approximately $32,000. Park Square Financial Group LLC bought a new position in CRH in the 4th quarter worth approximately $32,000. Colonial Trust Co SC bought a new position in CRH in the 4th quarter worth approximately $37,000. Finally, GW&K Investment Management LLC raised its position in CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Stock Performance

CRH stock traded up $1.71 during midday trading on Tuesday, hitting $114.30. 5,092,013 shares of the company's stock were exchanged, compared to its average volume of 5,550,809. The stock's fifty day moving average price is $98.55 and its 200-day moving average price is $95.79. The company has a market cap of $76.89 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26. Crh Plc has a one year low of $76.75 and a one year high of $114.40.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.12). The business had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The business's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. On average, analysts expect that Crh Plc will post 5.47 EPS for the current year.

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH's payout ratio is currently 23.22%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of CRH in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $115.00 price objective for the company. The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a research report on Tuesday, May 6th. Morgan Stanley restated an "overweight" rating on shares of CRH in a research report on Friday, August 8th. DA Davidson restated a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of CRH in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $112.00 target price (up previously from $108.00) on shares of CRH in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, CRH currently has an average rating of "Buy" and an average target price of $114.64.

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.