Resona Asset Management Co. Ltd. Makes New $17.99 Million Investment in Crh Plc $CRH

Resona Asset Management Co. Ltd. bought a new position in Crh Plc (NYSE:CRH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 195,966 shares of the construction company’s stock, valued at approximately $17,990,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in CRH by 62.8% in the first quarter. Vanguard Group Inc. now owns 63,755,468 shares of the construction company’s stock worth $5,608,567,000 after purchasing an additional 24,591,538 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of CRH by 43.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,303,788 shares of the construction company’s stock valued at $906,424,000 after buying an additional 3,108,416 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of CRH by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,185,200 shares of the construction company’s stock worth $843,201,000 after buying an additional 354,711 shares during the period. Boston Partners increased its stake in shares of CRH by 5.9% in the 1st quarter. Boston Partners now owns 8,822,801 shares of the construction company’s stock worth $775,349,000 after acquiring an additional 493,796 shares in the last quarter. Finally, Amundi lifted its position in CRH by 11.8% during the 1st quarter. Amundi now owns 7,979,264 shares of the construction company’s stock valued at $689,009,000 after acquiring an additional 843,806 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Stock Performance

CRH opened at $115.00 on Friday. The company’s 50-day simple moving average is $115.75 and its two-hundred day simple moving average is $103.40. The stock has a market capitalization of $77.36 billion, a P/E ratio of 24.06, a P/E/G ratio of 1.68 and a beta of 1.32. Crh Plc has a 52-week low of $76.75 and a 52-week high of $121.99.

CRH (NYSE:CRH) last released its quarterly earnings data on Wednesday, November 5th. The construction company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.27. The firm had revenue of $11.07 billion during the quarter, compared to analysts’ expectations of $10.15 billion. CRH had a net margin of 9.09% and a return on equity of 15.68%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.97 earnings per share. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. Research analysts forecast that Crh Plc will post 5.47 EPS for the current fiscal year.

CRH Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 21st. CRH’s dividend payout ratio is presently 23.22%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRH. Wells Fargo & Company upgraded shares of CRH to a “strong-buy” rating in a report on Wednesday, October 8th. Morgan Stanley set a $134.00 price target on CRH in a research report on Thursday, October 9th. Bank of America initiated coverage on CRH in a research report on Friday, September 26th. They set a “buy” rating and a $128.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on CRH in a research note on Friday, October 24th. They set an “overweight” rating for the company. Finally, Sanford C. Bernstein increased their target price on CRH from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. Four analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $127.71.

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.