Raymond James Financial Inc. Raises Holdings in Crh Plc $CRH

Key Points

• Raymond James Financial Inc. increased its stake in CRH Plc by 18.7%, acquiring an additional 83,820 shares to reach a total of 531,365 shares, valued at approximately $46.7 million.
• Despite a year-over-year revenue increase of 5.7% to $10.21 billion, CRH reported earnings per share of $1.94, missing analyst expectations.
• CRH recently declared a quarterly dividend of $0.37 per share, which will be paid on September 24th, representing an annualized yield of 1.3%.

Raymond James Financial Inc. raised its position in Crh Plc (NYSE:CRH - Free Report) by 18.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 531,365 shares of the construction company's stock after acquiring an additional 83,820 shares during the quarter. Raymond James Financial Inc. owned approximately 0.08% of CRH worth $46,744,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CRH. Orion Capital Management LLC purchased a new position in CRH during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC bought a new stake in shares of CRH in the 4th quarter worth approximately $32,000. Park Square Financial Group LLC purchased a new position in shares of CRH during the fourth quarter valued at approximately $32,000. Colonial Trust Co SC bought a new position in shares of CRH during the fourth quarter valued at approximately $37,000. Finally, GW&K Investment Management LLC lifted its stake in CRH by 86.7% in the first quarter. GW&K Investment Management LLC now owns 448 shares of the construction company's stock worth $39,000 after acquiring an additional 208 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRH. Vertical Research raised shares of CRH to a "strong-buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $112.00 price target (up previously from $108.00) on shares of CRH in a research report on Friday, August 8th. The Goldman Sachs Group restated a "neutral" rating on shares of CRH in a report on Tuesday, May 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a research report on Friday, August 8th. Finally, DA Davidson reissued a "neutral" rating and issued a $105.00 target price (down previously from $120.00) on shares of CRH in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, CRH currently has an average rating of "Buy" and a consensus target price of $113.18.

CRH Trading Up 2.3%

CRH traded up $2.5360 during midday trading on Friday, reaching $113.2560. The company's stock had a trading volume of 2,965,952 shares, compared to its average volume of 4,527,532. The firm has a market capitalization of $76.18 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.46 and a beta of 1.26. Crh Plc has a 1 year low of $76.75 and a 1 year high of $113.95. The stock's 50-day moving average is $98.10 and its 200-day moving average is $95.79.

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

CRH Announces Dividend

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

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.