Pictet Asset Management Holding SA Grows Holdings in Crh Plc $CRH

Key Points

• Pictet Asset Management boosted its stake in CRH by 34.9% in Q4 to 500,013 shares (about $62.4M); Vanguard and other large institutions also increased holdings, leaving institutional ownership at 62.5%.
• CRH missed Q4 expectations, reporting $1.52 EPS vs. $2.20 expected and $9.42B revenue vs. $11.15B expected, although revenue was up 6.2% year‑over‑year.
• CRH raised its quarterly dividend to $0.39 (annualized $1.56, yield ~1.4%), and analysts remain generally positive with a consensus target of $139.54 and a "Moderate Buy" rating.

Pictet Asset Management Holding SA boosted its stake in Crh Plc (NYSE:CRH - Free Report) by 34.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,013 shares of the construction company's stock after acquiring an additional 129,429 shares during the period. Pictet Asset Management Holding SA owned 0.07% of CRH worth $62,402,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CRH. Vanguard Group Inc. lifted its stake in CRH by 22.7% during the fourth quarter. Vanguard Group Inc. now owns 79,117,664 shares of the construction company's stock worth $9,873,884,000 after purchasing an additional 14,623,673 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of CRH in the 3rd quarter worth about $295,798,000. Alkeon Capital Management LLC acquired a new position in shares of CRH in the 3rd quarter valued at about $209,825,000. SG Americas Securities LLC boosted its holdings in shares of CRH by 9,615.1% in the 4th quarter. SG Americas Securities LLC now owns 1,386,928 shares of the construction company's stock valued at $173,089,000 after buying an additional 1,372,652 shares during the period. Finally, Citigroup Inc. grew its position in shares of CRH by 229.0% during the 3rd quarter. Citigroup Inc. now owns 1,811,126 shares of the construction company's stock valued at $217,154,000 after buying an additional 1,260,558 shares during the last quarter. Institutional investors own 62.50% of the company's stock.

CRH Trading Down 1.8%

NYSE:CRH opened at $114.54 on Wednesday. The company has a 50-day moving average of $111.47 and a 200-day moving average of $117.89. The firm has a market cap of $76.54 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.04 and a beta of 1.35. Crh Plc has a twelve month low of $86.82 and a twelve month high of $131.55.

CRH (NYSE:CRH - Get Free Report) last released its earnings results on Thursday, February 19th. The construction company reported $1.52 EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($0.68). The business had revenue of $9.42 billion during the quarter, compared to the consensus estimate of $11.15 billion. CRH had a return on equity of 15.98% and a net margin of 10.02%.The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.02 earnings per share. On average, research analysts forecast that Crh Plc will post 5.95 earnings per share for the current year.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Friday, March 6th were given a dividend of $0.39 per share. This is a boost from CRH's previous quarterly dividend of $0.37. The ex-dividend date was Friday, March 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.4%. CRH's payout ratio is currently 28.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRH. JPMorgan Chase & Co. raised their target price on shares of CRH from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Morgan Stanley reiterated an "overweight" rating and set a $139.00 price target on shares of CRH in a research report on Wednesday, April 15th. DA Davidson set a $120.00 price objective on CRH in a research report on Friday, February 20th. Citigroup increased their target price on CRH from $142.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, January 8th. Finally, Wells Fargo & Company raised their target price on CRH from $133.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.54.

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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