Generali Asset Management SPA SGR Has $7.36 Million Stake in Crh Plc $CRH

Key Points

• Generali Asset Management SPA SGR reduced its stake in CRH Plc by 48.3%, now holding 80,133 shares valued at approximately $7.36 million.
• Several hedge funds have recently adjusted their stakes in CRH, with Park Place Capital Corp increasing its holding by 59.9% in the second quarter.
• Analysts have raised their price targets for CRH, with Royal Bank of Canada increasing its target from $112 to $152 and multiple firms issuing ratings of strong-buy or buy.

Generali Asset Management SPA SGR reduced its position in Crh Plc (NYSE:CRH - Free Report) by 48.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,133 shares of the construction company's stock after selling 74,811 shares during the period. Generali Asset Management SPA SGR's holdings in CRH were worth $7,356,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CRH. Park Place Capital Corp grew its stake in CRH by 59.9% in the 2nd quarter. Park Place Capital Corp now owns 307 shares of the construction company's stock valued at $29,000 after buying an additional 115 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in CRH by 5.0% in the 1st quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company's stock valued at $240,000 after buying an additional 123 shares during the last quarter. Callan Family Office LLC grew its holdings in CRH by 4.4% in the 1st quarter. Callan Family Office LLC now owns 3,074 shares of the construction company's stock valued at $270,000 after buying an additional 129 shares during the last quarter. Yousif Capital Management LLC grew its holdings in CRH by 1.7% in the 1st quarter. Yousif Capital Management LLC now owns 8,196 shares of the construction company's stock valued at $721,000 after buying an additional 139 shares during the last quarter. Finally, LRI Investments LLC grew its holdings in CRH by 9.2% in the 2nd quarter. LRI Investments LLC now owns 1,669 shares of the construction company's stock valued at $153,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRH. Royal Bank Of Canada raised their price objective on shares of CRH from $112.00 to $152.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. DA Davidson restated a "neutral" rating and issued a $105.00 price target (down from $120.00) on shares of CRH in a research report on Thursday, July 10th. Sanford C. Bernstein lifted their target price on CRH from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, September 11th. Jefferies Financial Group raised CRH to a "strong-buy" rating in a research report on Monday, September 22nd. Finally, Vertical Research raised CRH to a "strong-buy" rating in a report on Friday, August 1st. Four investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $126.21.

CRH Price Performance

Shares of CRH stock opened at $118.64 on Thursday. The stock's fifty day simple moving average is $113.72 and its 200 day simple moving average is $99.66. The firm has a market cap of $79.80 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 1.70 and a beta of 1.32. Crh Plc has a one year low of $76.75 and a one year high of $121.88.

CRH (NYSE:CRH - Get Free Report) last announced 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 net margin of 9.09% and a return on equity of 15.68%. The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.27 billion. During the same period in the prior year, the firm earned $1.88 EPS. CRH's quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts anticipate that Crh Plc will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Friday, August 22nd were given a $0.37 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.2%. CRH's payout ratio is 23.22%.

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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