Raymond James Financial Inc. Makes New $41.41 Million Investment in CRH plc (NYSE:CRH)

Raymond James Financial Inc. bought a new stake in shares of CRH plc (NYSE:CRH) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 447,545 shares of the construction company’s stock, valued at approximately $41,407,000. Raymond James Financial Inc. owned about 0.07% of CRH at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CRH. Norges Bank acquired a new position in CRH during the 4th quarter worth $1,391,245,000. FMR LLC boosted its holdings in CRH by 13.0% in the fourth quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock worth $3,781,004,000 after purchasing an additional 4,687,345 shares during the period. Franklin Resources Inc. increased its stake in CRH by 17.0% during the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock valued at $1,553,194,000 after purchasing an additional 2,437,868 shares during the last quarter. AGF Management Ltd. raised its holdings in shares of CRH by 4,264.7% during the fourth quarter. AGF Management Ltd. now owns 1,034,527 shares of the construction company’s stock worth $95,714,000 after purchasing an additional 1,010,825 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of CRH by 32,560.1% in the 4th quarter. National Bank of Canada FI now owns 951,714 shares of the construction company’s stock worth $88,053,000 after buying an additional 948,800 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

CRH Trading Up 0.3 %

CRH stock opened at $86.00 on Wednesday. The firm’s 50-day moving average is $95.71 and its two-hundred day moving average is $96.14. The company has a market capitalization of $58.16 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. CRH plc has a 52 week low of $71.18 and a 52 week high of $110.97.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a dividend of $0.37 per share. This is a boost from CRH’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 1.72%. CRH’s payout ratio is presently 22.66%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CRH shares. Royal Bank of Canada dropped their price objective on shares of CRH from $127.00 to $108.00 and set an “outperform” rating on the stock in a research note on Monday. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Berenberg Bank set a $120.00 price objective on CRH in a research report on Friday, February 28th. JPMorgan Chase & Co. cut their target price on CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Finally, Loop Capital initiated coverage on shares of CRH in a report on Wednesday, April 9th. They set a “buy” rating and a $114.00 price target for the company. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $112.36.

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.