Allianz Asset Management GmbH Decreases Stock Holdings in Crh Plc $CRH

Key Points

• Allianz Asset Management GmbH has decreased its holdings in CRH Plc by 17.0%, now owning approximately 871,468 shares valued at $80 million.
• CRH reported EPS of $1.94 for the last quarter, missing the consensus estimate of $2.06, with a revenue of $10.21 billion, also below expectations.
• Analysts have issued strong ratings for CRH, with several firms raising their price targets, including a $152 target by Royal Bank of Canada.

Allianz Asset Management GmbH lowered its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 17.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 871,468 shares of the construction company's stock after selling 178,191 shares during the period. Allianz Asset Management GmbH owned about 0.13% of CRH worth $80,001,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CRH. Park Place Capital Corp boosted its holdings in CRH by 59.9% during the second quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock worth $29,000 after buying an additional 115 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in shares of CRH by 86.7% in the first 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. Ransom Advisory Ltd purchased a new stake in shares of CRH in the first quarter valued at about $47,000. Richardson Financial Services Inc. lifted its holdings in shares of CRH by 29.4% in the second quarter. Richardson Financial Services Inc. now owns 678 shares of the construction company's stock valued at $63,000 after purchasing an additional 154 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in shares of CRH by 44.6% in the first 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 Price Performance

NYSE:CRH opened at $116.94 on Friday. The firm has a 50 day simple moving average of $113.92 and a 200-day simple moving average of $99.86. The firm has a market cap of $78.66 billion, a PE ratio of 24.46, a P/E/G ratio of 1.68 and a beta of 1.32. Crh Plc has a 1-year low of $76.75 and a 1-year high of $121.88.

CRH (NYSE:CRH - Get Free Report) last issued 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). CRH had a return on equity of 15.68% and a net margin of 9.09%.The company had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.27 billion. During the same period last year, the company posted $1.88 EPS. The business's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts expect that Crh Plc will post 5.47 earnings per share for the current fiscal year.

CRH Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Friday, August 22nd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH's dividend payout ratio is 23.22%.

Analysts Set New Price Targets

Several analysts have issued reports on CRH shares. Jefferies Financial Group raised shares of CRH to a "strong-buy" rating in a report on Monday, September 22nd. UBS Group started coverage on shares of CRH in a report on Tuesday. They issued a "buy" rating and a $138.00 price target on the stock. Royal Bank Of Canada upped their price target on shares of CRH from $112.00 to $152.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. Bank of America assumed coverage on shares of CRH in a report on Friday, September 26th. They issued a "buy" rating and a $128.00 price target on the stock. Finally, Wells Fargo & Company raised shares of CRH to a "strong-buy" rating in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, CRH presently has an average rating of "Buy" and an average price target of $126.21.

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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