Resona Asset Management Co. Ltd. Invests $17.99 Million in Crh Plc $CRH

Resona Asset Management Co. Ltd. acquired a new position in Crh Plc (NYSE:CRH) during the second quarter, HoldingsChannel.com reports. The fund acquired 195,966 shares of the construction company’s stock, valued at approximately $17,990,000.

Other large investors also recently added to or reduced their stakes in the company. Creekmur Asset Management LLC bought a new position in CRH in the second quarter worth approximately $27,000. Park Place Capital Corp increased its stake in shares of CRH by 59.9% in the 2nd quarter. Park Place Capital Corp now owns 307 shares of the construction company’s stock worth $29,000 after purchasing an additional 115 shares in the last quarter. GW&K Investment Management LLC raised its holdings in CRH by 86.7% in the 1st quarter. GW&K Investment Management LLC now owns 448 shares of the construction company’s stock worth $39,000 after purchasing an additional 208 shares during the period. Cullen Frost Bankers Inc. lifted its position in CRH by 255.0% during the second quarter. Cullen Frost Bankers Inc. now owns 426 shares of the construction company’s stock valued at $39,000 after purchasing an additional 306 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new position in CRH during the first quarter valued at $47,000. 62.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Vertical Research upgraded CRH to a “strong-buy” rating in a research report on Friday, August 1st. Barclays increased their target price on shares of CRH from $110.00 to $131.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Bank of America initiated coverage on shares of CRH in a research note on Friday, September 26th. They set a “buy” rating and a $128.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of CRH in a research report on Wednesday, October 8th. Finally, Truist Financial increased their price objective on shares of CRH from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $127.71.

CRH Price Performance

CRH stock opened at $115.00 on Friday. Crh Plc has a 1 year low of $76.75 and a 1 year high of $121.99. The firm’s 50 day moving average price is $115.75 and its 200-day moving average price is $103.40. The stock has a market cap of $77.36 billion, a P/E ratio of 24.06, a PEG ratio of 1.68 and a beta of 1.32.

CRH (NYSE:CRH) last posted its earnings results 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 company 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%. CRH’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $1.97 earnings per share. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. As a group, equities analysts expect that Crh Plc will post 5.47 EPS for the current year.

CRH Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Friday, November 21st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 21st. CRH’s payout ratio is currently 23.22%.

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.