Baird Financial Group Inc. Decreases Stock Holdings in Crh Plc $CRH

Key Points

• Baird Financial Group Inc. has decreased its stock holdings in CRH Plc by 17.6%, owning now 17,537 shares, which are valued at $1,543,000.
• CRH Plc's latest quarterly earnings showed an EPS of $1.94, missing the consensus estimate of $2.06 by $0.12, while revenue was $10.21 billion, slightly below expectations.
• The firm is set to pay a quarterly dividend of $0.37 per share on September 24th, with a dividend yield of 1.3%.

Baird Financial Group Inc. decreased its holdings in shares of Crh Plc (NYSE:CRH - Free Report) by 17.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,537 shares of the construction company's stock after selling 3,748 shares during the period. Baird Financial Group Inc.'s holdings in CRH were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRH. Orion Capital Management LLC purchased a new position in CRH in the 4th quarter valued at $28,000. Heck Capital Advisors LLC purchased a new position in CRH in the 4th quarter valued at $32,000. Park Square Financial Group LLC purchased a new position in CRH in the 4th quarter valued at $32,000. GW&K Investment Management LLC lifted its holdings in CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock valued at $39,000 after purchasing an additional 208 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in CRH by 44.6% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 730 shares of the construction company's stock valued at $64,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Stock Up 0.6%

NYSE CRH opened at $112.24 on Monday. Crh Plc has a 52 week low of $76.75 and a 52 week high of $114.40. The business's fifty day simple moving average is $102.68 and its 200-day simple moving average is $96.22. The firm has a market cap of $75.50 billion, a PE ratio of 23.48, a P/E/G ratio of 1.46 and a beta of 1.31.

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

CRH Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 22nd. CRH's dividend payout ratio (DPR) is presently 23.22%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRH. DA Davidson restated a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. JPMorgan Chase & Co. began coverage on CRH in a report on Tuesday, August 26th. They issued an "overweight" rating and a $130.00 price objective on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $112.00 price objective (up previously from $108.00) on shares of CRH in a report on Friday, August 8th. Sanford C. Bernstein began coverage on CRH in a report on Tuesday, May 13th. They set an "outperform" rating and a $115.00 price target on the stock. Finally, Morgan Stanley reiterated an "overweight" rating on shares of CRH in a report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus 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.

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