Crh Plc $CRH Shares Purchased by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in CRH Plc by 130.4% in Q1 2023, acquiring 422,027 shares to own a total of 745,783 shares valued at approximately $65.6 million.
• Multiple institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., significantly boosted their holdings, with MIRAE increasing its position by an astonishing 58,695.3%.
• CRH's recent earnings report showed a miss in EPS estimates, reporting $1.94 versus the consensus of $2.06, while revenue came in at $10.21 billion, slightly under the expected $10.27 billion.

Nissay Asset Management Corp Japan ADV increased its stake in shares of Crh Plc (NYSE:CRH - Free Report) by 130.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 745,783 shares of the construction company's stock after buying an additional 422,027 shares during the quarter. Nissay Asset Management Corp Japan ADV owned about 0.11% of CRH worth $65,607,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in CRH in the fourth quarter valued at $28,000. Heck Capital Advisors LLC purchased a new stake in CRH in the fourth quarter valued at $32,000. Park Square Financial Group LLC purchased a new stake in CRH in the fourth quarter valued at $32,000. Colonial Trust Co SC purchased a new stake in CRH in the fourth quarter valued at $37,000. Finally, GW&K Investment Management LLC boosted its holdings in 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 during the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of CRH in a report on Tuesday, September 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $112.00 price objective (up previously from $108.00) on shares of CRH in a report on Friday, August 8th. DA Davidson reaffirmed a "neutral" rating and issued a $105.00 price objective (down previously from $120.00) on shares of CRH in a report on Thursday, July 10th. Sanford C. Bernstein began coverage on shares of CRH in a research note on Tuesday, May 13th. They set an "outperform" rating and a $115.00 target price on the stock. Finally, Vertical Research raised shares of CRH to a "strong-buy" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, CRH presently has a consensus rating of "Buy" and a consensus target price of $114.64.

CRH Stock Up 0.6%

Shares of CRH stock traded up $0.63 during mid-day trading on Friday, hitting $112.24. 3,599,695 shares of the stock were exchanged, compared to its average volume of 3,914,010. The firm has a fifty day moving average of $102.68 and a 200 day moving average of $96.22. Crh Plc has a 52-week low of $76.75 and a 52-week high of $114.40. The company has a market cap of $75.50 billion, a PE ratio of 23.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.31.

CRH (NYSE:CRH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.12). The company had revenue of $10.21 billion during the quarter, compared to analysts' expectations of $10.27 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The company's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.88 earnings per share. Equities analysts predict that Crh Plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Friday, August 22nd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.48 dividend on an annualized basis and a yield of 1.3%. CRH's dividend payout ratio (DPR) is currently 23.22%.

CRH Company Profile

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.