Assenagon Asset Management S.A. Lowers Position in Crh Plc $CRH

Key Points

• Assenagon Asset Management cut its CRH position by 65.4% in the second quarter, selling 133,059 shares and retaining 70,353 shares valued at approximately $7.5 million. Institutional investors collectively own 62.5% of CRH’s stock.
• CRH reported quarterly EPS of $2.21, exceeding estimates of $2.02, while revenue rose 5.6% year over year to $10.78 billion. The company also announced a quarterly dividend of $0.39 per share, equating to a 1.5% annualized yield.
• Despite CRH trading near $101, below its 50-day and 200-day moving averages, analysts maintain a consensus “Buy” rating with a $139.44 price target; 15 analysts rate it Buy and one rates it Hold.

Assenagon Asset Management S.A. decreased its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 65.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,353 shares of the construction company's stock after selling 133,059 shares during the quarter. Assenagon Asset Management S.A.'s holdings in CRH were worth $7,528,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CRH. Flagship Harbor Advisors LLC bought a new position in shares of CRH during the 4th quarter valued at about $26,000. Riggs Asset Managment Co. Inc. grew its holdings in CRH by 1,835.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company's stock valued at $30,000 after buying an additional 312 shares in the last quarter. Bell Investment Advisors Inc increased its stake in CRH by 51.2% in the 1st quarter. Bell Investment Advisors Inc now owns 304 shares of the construction company's stock worth $32,000 after acquiring an additional 103 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in CRH in the 4th quarter worth approximately $33,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of CRH during the 4th quarter worth approximately $37,000. 62.50% of the stock is currently owned by institutional investors.

CRH Trading Up 0.5%

CRH stock opened at $101.14 on Wednesday. Crh Plc has a 12-month low of $94.11 and a 12-month high of $131.55. The firm has a 50-day moving average price of $104.45 and a 200-day moving average price of $110.07. The firm has a market capitalization of $67.29 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.79 and a beta of 1.34.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.02 by $0.19. CRH had a net margin of 9.93% and a return on equity of 15.76%. The company had revenue of $10.78 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the prior year, the firm posted $1.94 EPS. The firm's revenue was up 5.6% compared to the same quarter last year. CRH has set its FY 2026 guidance at 5.600-6.050 EPS. As a group, sell-side analysts predict that Crh Plc will post 5.8 earnings per share for the current fiscal year.

CRH Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Friday, August 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. CRH's dividend payout ratio (DPR) is 27.51%.

Analyst Ratings Changes

A number of research firms have recently commented on CRH. Truist Financial lowered their target price on CRH from $140.00 to $130.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Weiss Ratings upgraded shares of CRH from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, July 31st. Morgan Stanley reaffirmed an "overweight" rating and set a $139.00 price target on shares of CRH in a research note on Wednesday, April 15th. Sanford C. Bernstein reiterated an "outperform" rating on shares of CRH in a research report on Tuesday, June 23rd. Finally, Jefferies Financial Group lifted their price objective on shares of CRH from $149.00 to $165.60 and gave the stock a "buy" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, CRH currently has a consensus rating of "Buy" and a consensus price target of $139.44.

CRH Company Profile

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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