SEB Asset Management AB Acquires New Holdings in Crh Plc $CRH

Key Points

• SEB Asset Management AB opened a new position in CRH during the first quarter, buying 134,874 shares worth about $14.2 million.
• Institutional ownership in CRH remains high, with hedge funds and other institutional investors holding about 62.5% of the stock. Several large managers, including Vanguard and State Street, also boosted their stakes.
• Analysts remain mostly positive on CRH: the stock has a consensus “Buy” rating and an average target price of $141.19, while the company recently beat earnings and revenue expectations in its latest quarterly report.

SEB Asset Management AB bought a new position in Crh Plc (NYSE:CRH - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 134,874 shares of the construction company's stock, valued at approximately $14,178,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of CRH by 22.7% during the 4th quarter. Vanguard Group Inc. now owns 79,117,664 shares of the construction company's stock valued at $9,873,884,000 after buying an additional 14,623,673 shares during the period. State Street Corp grew its holdings in shares of CRH by 81.3% in the fourth quarter. State Street Corp now owns 24,895,205 shares of the construction company's stock worth $3,106,927,000 after acquiring an additional 11,167,189 shares during the period. Geode Capital Management LLC increased its position in CRH by 67.3% during the fourth quarter. Geode Capital Management LLC now owns 14,709,575 shares of the construction company's stock valued at $1,827,252,000 after acquiring an additional 5,916,930 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in CRH by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 12,439,954 shares of the construction company's stock valued at $1,552,506,000 after acquiring an additional 78,769 shares during the period. Finally, Norges Bank bought a new position in CRH in the fourth quarter valued at about $1,476,939,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRH shares. Wells Fargo & Company cut their price target on CRH from $135.00 to $132.00 and set an "overweight" rating for the company in a research note on Wednesday, July 8th. Morgan Stanley reiterated an "overweight" rating and issued a $139.00 price objective on shares of CRH in a research note on Wednesday, April 15th. Weiss Ratings downgraded shares of CRH from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 18th. Jefferies Financial Group boosted their target price on shares of CRH from $149.00 to $165.60 and gave the company a "buy" rating in a research report on Friday, June 26th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of CRH in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $141.19.

CRH Stock Performance

NYSE:CRH opened at $99.81 on Tuesday. The stock has a 50-day simple moving average of $106.08 and a two-hundred day simple moving average of $112.97. The firm has a market capitalization of $66.69 billion, a PE ratio of 18.48, a P/E/G ratio of 1.78 and a beta of 1.32. Crh Plc has a 52-week low of $93.58 and a 52-week 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. CRH had a return on equity of 15.37% and a net margin of 9.65%.The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.07 billion. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. CRH has set its FY 2026 guidance at 5.600-6.050 EPS. Equities analysts forecast that Crh Plc will post 5.96 earnings per share for the current fiscal year.

CRH Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 15th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 1.6%. CRH's dividend payout ratio (DPR) is presently 28.89%.

CRH 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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