Hsbc Holdings PLC Boosts Stock Holdings in Crh Plc $CRH

Key Points

• HSBC Holdings PLC increased its CRH stake by 441.4% in the first quarter, ending with 1.47 million shares valued at about $154.2 million.
• CRH shares were down 2.5% on Friday, trading at $102.96, below both its 50-day and 200-day moving averages.
• The company beat quarterly earnings expectations, reporting EPS of -$0.20 vs. -$0.22 expected and revenue of $7.37 billion, while analysts currently rate the stock a Buy with an average price target of $141.19.

Hsbc Holdings PLC grew its holdings in Crh Plc (NYSE:CRH - Free Report) by 441.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,468,493 shares of the construction company's stock after purchasing an additional 1,197,255 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of CRH worth $154,218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CRH. Mirae Asset Global Investments Co. Ltd. raised its position in shares of CRH by 680.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,237 shares of the construction company's stock worth $14,881,000 after acquiring an additional 103,962 shares in the last quarter. Pacific Capital Partners Ltd grew its stake in CRH by 47.1% in the fourth quarter. Pacific Capital Partners Ltd now owns 43,750 shares of the construction company's stock valued at $5,460,000 after purchasing an additional 14,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in CRH by 33.2% in the fourth quarter. Principal Financial Group Inc. now owns 3,021,734 shares of the construction company's stock worth $377,112,000 after purchasing an additional 752,463 shares in the last quarter. Mirabaud Asset Management Ltd lifted its position in shares of CRH by 38.2% during the fourth quarter. Mirabaud Asset Management Ltd now owns 98,038 shares of the construction company's stock valued at $12,235,000 after buying an additional 27,118 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its holdings in shares of CRH by 3.3% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,337,447 shares of the construction company's stock valued at $541,313,000 after buying an additional 137,048 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.

CRH Trading Down 2.5%

Shares of CRH stock opened at $102.96 on Friday. The firm's 50 day simple moving average is $106.33 and its two-hundred day simple moving average is $113.25. The firm has a market capitalization of $68.80 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.79 and a beta of 1.32. Crh Plc has a 12-month low of $92.66 and a 12-month high of $131.55.

CRH (NYSE:CRH - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The construction company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. The business had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.07 billion. CRH had a net margin of 9.65% and a return on equity of 15.37%. The firm's revenue was up 9.1% compared to the same quarter last year. CRH has set its FY 2026 guidance at 5.600-6.050 EPS. On average, sell-side analysts predict that Crh Plc will post 5.96 EPS for the current fiscal year.

CRH Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 1.5%. CRH's payout ratio is currently 28.89%.

Analysts Set New Price Targets

Several research analysts recently commented on CRH shares. Wells Fargo & Company reduced their price objective on shares of CRH from $135.00 to $132.00 and set an "overweight" rating for the company in a research note on Wednesday, July 8th. Jefferies Financial Group upped their price target on CRH from $149.00 to $165.60 and gave the stock a "buy" rating in a research report on Friday, June 26th. Sanford C. Bernstein reissued an "outperform" rating on shares of CRH in a research report on Tuesday, June 23rd. Morgan Stanley restated an "overweight" rating and set a $139.00 target price on shares of CRH in a research note on Wednesday, April 15th. Finally, Weiss Ratings cut CRH from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, CRH currently has an average rating of "Buy" and a consensus price target of $141.19.

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.

Want to see what other hedge funds are holding CRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crh Plc (NYSE:CRH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.