Concurrent Investment Advisors LLC Acquires 10,128 Shares of Crh Plc $CRH

Key Points

• Concurrent Investment Advisors LLC increased its stake in CRH by 333.2% in Q4, buying 10,128 shares to hold 13,168 shares worth $1.643 million at the end of the period.
• CRH missed Q4 expectations, reporting EPS of $1.52 versus $2.20 expected and revenue of $9.42 billion versus $11.15 billion expected, although revenue rose 6.2% year-over-year.
• CRH raised its quarterly dividend to $0.39 (annualized $1.56, yield ~1.4%), and analysts maintain a Moderate Buy consensus with an average target price of $139.54 after several upgrades.

Concurrent Investment Advisors LLC lifted its holdings in Crh Plc (NYSE:CRH - Free Report) by 333.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,168 shares of the construction company's stock after acquiring an additional 10,128 shares during the period. Concurrent Investment Advisors LLC's holdings in CRH were worth $1,643,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Board of the Pension Protection Fund bought a new position in shares of CRH in the fourth quarter worth about $25,000. Harbor Investment Advisory LLC boosted its stake in shares of CRH by 87.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 212 shares of the construction company's stock worth $26,000 after acquiring an additional 99 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of CRH in the fourth quarter worth about $26,000. United Community Bank boosted its stake in shares of CRH by 359.6% in the third quarter. United Community Bank now owns 239 shares of the construction company's stock worth $29,000 after acquiring an additional 187 shares during the period. Finally, Riggs Asset Managment Co. Inc. boosted its stake in shares of CRH by 1,835.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company's stock worth $30,000 after acquiring an additional 312 shares during the period. Institutional investors own 62.50% of the company's stock.

CRH Trading Down 0.7%

NYSE:CRH opened at $113.61 on Thursday. The company has a market capitalization of $75.92 billion, a P/E ratio of 20.58, a P/E/G ratio of 2.04 and a beta of 1.35. Crh Plc has a 12 month low of $86.82 and a 12 month high of $131.55. The business's 50-day moving average is $111.24 and its 200 day moving average is $117.86.

CRH (NYSE:CRH - Get Free Report) last posted its earnings results on Thursday, February 19th. The construction company reported $1.52 EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($0.68). The firm had revenue of $9.42 billion during the quarter, compared to analysts' expectations of $11.15 billion. CRH had a return on equity of 15.98% and a net margin of 10.02%.CRH's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.02 earnings per share. On average, research analysts forecast that Crh Plc will post 5.95 earnings per share for the current year.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Friday, March 6th were given a $0.39 dividend. This is an increase from CRH's previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, March 6th. CRH's dividend payout ratio (DPR) is presently 28.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRH. UBS Group upped their price objective on CRH from $138.00 to $147.00 and gave the stock a "buy" rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. upped their price objective on CRH from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 3rd. Wells Fargo & Company upped their price objective on CRH from $133.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, February 20th. Citigroup boosted their target price on CRH from $142.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 8th. Finally, BNP Paribas Exane upgraded CRH to a "strong-buy" rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $139.54.

CRH Company Profile

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH's core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.

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