CRH plc (NYSE:CRH) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in CRH plc (NYSE:CRH) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 386,639 shares of the construction company’s stock after selling 1,139 shares during the period. Raymond James & Associates owned approximately 0.06% of CRH worth $35,857,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. lifted its position in CRH by 336.4% during the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares in the last quarter. First Financial Corp IN acquired a new position in CRH during the first quarter valued at approximately $26,000. UMB Bank n.a. lifted its position in CRH by 72.7% during the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after buying an additional 125 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of CRH during the second quarter valued at approximately $43,000. Finally, Quarry LP purchased a new stake in shares of CRH during the second quarter valued at approximately $49,000. 62.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRH. DA Davidson lifted their price objective on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Truist Financial lifted their price target on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley upgraded shares of CRH from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $87.00 to $88.00 in a research note on Tuesday, July 9th. Citigroup lowered their target price on shares of CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.70.

CRH Stock Performance

Shares of CRH opened at $90.83 on Thursday. CRH plc has a 1 year low of $51.59 and a 1 year high of $94.14. The company has a market cap of $62.37 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30. The firm has a fifty day moving average of $89.40 and a 200-day moving average of $82.85.

CRH (NYSE:CRH) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. Analysts predict that CRH plc will post 5.44 EPS for the current year.

CRH Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 25th. Investors of record on Friday, August 23rd were issued a $0.35 dividend. This represents a yield of 1.7%. The ex-dividend date was Friday, August 23rd. CRH’s payout ratio is currently 26.46%.

CRH Company Profile

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.