Assenagon Asset Management S.A. Has $6.78 Million Stake in Crh Plc $CRH

Key Points

• Assenagon Asset Management cut its stake in CRH by 96.5% in Q4, selling 1,511,276 shares and leaving 54,294 shares valued at about $6.78 million per its SEC filing.
• CRH missed Q4 expectations, reporting EPS of $1.52 versus a $2.20 consensus and revenue of $9.42 billion versus a $11.15 billion consensus, though revenue was up 6.2% year‑over‑year.
• CRH increased its quarterly dividend to $0.39 (annualized $1.56, yield ~1.5%), and analysts remain mostly positive with a "Moderate Buy" consensus and an average target price of $137.86.

Assenagon Asset Management S.A. lowered its position in shares of Crh Plc (NYSE:CRH - Free Report) by 96.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,294 shares of the construction company's stock after selling 1,511,276 shares during the quarter. Assenagon Asset Management S.A.'s holdings in CRH were worth $6,776,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. L2 Asset Management LLC raised its holdings in CRH by 3.0% in the second quarter. L2 Asset Management LLC now owns 3,028 shares of the construction company's stock worth $278,000 after buying an additional 89 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of CRH by 34.8% during the third quarter. UMB Bank n.a. now owns 356 shares of the construction company's stock valued at $43,000 after buying an additional 92 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of CRH by 2.4% during the third quarter. Crossmark Global Holdings Inc. now owns 4,126 shares of the construction company's stock valued at $495,000 after buying an additional 96 shares during the last quarter. Harbor Investment Advisory LLC increased its position in shares of CRH by 87.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 212 shares of the construction company's stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its holdings in CRH by 3.4% in the 3rd quarter. Sound View Wealth Advisors Group LLC now owns 3,082 shares of the construction company's stock worth $370,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Trading Down 1.5%

Shares of NYSE CRH opened at $101.65 on Friday. Crh Plc has a 12-month low of $76.75 and a 12-month high of $131.55. The firm has a market capitalization of $67.93 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.78 and a beta of 1.33. The firm has a 50 day moving average of $116.34 and a 200 day moving average of $118.24.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The construction company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.68). CRH had a return on equity of 15.98% and a net margin of 10.02%.The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the previous year, the business posted $1.02 earnings per share. The firm's revenue was up 6.2% on a year-over-year basis. Sell-side analysts predict that Crh Plc will post 5.47 EPS for the current year.

CRH Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Friday, March 6th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.56 annualized dividend and a yield of 1.5%. This is a positive change from CRH's previous quarterly dividend of $0.37. CRH's payout ratio is currently 28.26%.

Analyst Ratings Changes

A number of research firms have commented on CRH. Wells Fargo & Company lifted their target price on CRH from $133.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, February 20th. BNP Paribas Exane upgraded shares of CRH to a "strong-buy" rating in a research note on Friday, January 23rd. Longbow Research started coverage on shares of CRH in a report on Tuesday, December 16th. They set a "buy" rating and a $160.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of CRH from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 3rd. Finally, Morgan Stanley raised their target price on shares of CRH from $140.00 to $141.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, CRH has an average rating of "Moderate Buy" and an average target price of $137.86.

About CRH

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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