Allianz Asset Management GmbH Decreases Stock Position in Crh Plc $CRH

Allianz Asset Management GmbH cut its position in Crh Plc (NYSE:CRH) by 18.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 709,050 shares of the construction company’s stock after selling 162,418 shares during the period. Allianz Asset Management GmbH’s holdings in CRH were worth $85,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in CRH by 158.5% during the first quarter. NewEdge Advisors LLC now owns 8,670 shares of the construction company’s stock valued at $763,000 after purchasing an additional 5,316 shares during the last quarter. Empowered Funds LLC raised its position in shares of CRH by 5.3% in the first quarter. Empowered Funds LLC now owns 13,178 shares of the construction company’s stock valued at $1,159,000 after purchasing an additional 658 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of CRH by 58.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,279 shares of the construction company’s stock valued at $393,000 after buying an additional 1,579 shares in the last quarter. Global Assets Advisory LLC bought a new position in CRH in the 2nd quarter worth approximately $231,000. Finally, DAVENPORT & Co LLC boosted its holdings in CRH by 16.4% in the 2nd quarter. DAVENPORT & Co LLC now owns 64,640 shares of the construction company’s stock worth $5,934,000 after buying an additional 9,125 shares during the period. Institutional investors own 62.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CRH. Longbow Research began coverage on shares of CRH in a report on Tuesday, December 16th. They set a “buy” rating and a $160.00 target price on the stock. DA Davidson lifted their price target on CRH from $110.00 to $116.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. boosted their price objective on CRH from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Morgan Stanley raised their target price on CRH from $131.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Finally, Citigroup upped their target price on shares of CRH from $142.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, CRH has an average rating of “Moderate Buy” and a consensus target price of $135.87.

CRH Stock Down 2.1%

CRH opened at $122.05 on Wednesday. The business’s fifty day simple moving average is $124.45 and its 200 day simple moving average is $116.24. Crh Plc has a 52 week low of $76.75 and a 52 week high of $131.55. The stock has a market cap of $81.80 billion, a PE ratio of 24.31, a P/E/G ratio of 1.83 and a beta of 1.33.

CRH (NYSE:CRH) last posted its quarterly earnings data on Wednesday, November 5th. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.25% and a net margin of 9.30%.The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 EPS. As a group, equities analysts anticipate that Crh Plc will post 5.47 earnings per share for the current year.

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.