Allianz Asset Management GmbH Has $85.02 Million Stock Position in Crh Plc $CRH

Allianz Asset Management GmbH lessened its stake in shares of Crh Plc (NYSE:CRH) by 18.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,050 shares of the construction company’s stock after selling 162,418 shares during the quarter. Allianz Asset Management GmbH owned about 0.11% of CRH worth $85,015,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also 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. United Community Bank increased its holdings in shares of CRH by 359.6% during the third quarter. United Community Bank now owns 239 shares of the construction company’s stock valued at $29,000 after acquiring an additional 187 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of CRH by 1,835.3% during the second quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock worth $30,000 after purchasing an additional 312 shares during the period. Salomon & Ludwin LLC bought a new position in shares of CRH in the 3rd quarter worth $32,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of CRH by 255.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 426 shares of the construction company’s stock worth $39,000 after purchasing an additional 306 shares in the last quarter. 62.50% of the stock is owned by institutional investors.

CRH Trading Down 2.1%

Shares of CRH stock opened at $122.05 on Wednesday. The firm has a market capitalization of $81.80 billion, a P/E ratio of 24.31, a price-to-earnings-growth ratio of 1.83 and a beta of 1.33. 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 12 month low of $76.75 and a 12 month high of $131.55.

CRH (NYSE:CRH) last released its earnings results on Wednesday, November 5th. The construction company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.27. CRH had a return on equity of 16.25% and a net margin of 9.30%.The company had revenue of $11.07 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the previous year, the business posted $1.97 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts predict that Crh Plc will post 5.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRH. Exane BNP Paribas upgraded shares of CRH to a “strong-buy” rating in a report on Friday, January 23rd. Jefferies Financial Group reissued a “buy” rating on shares of CRH in a research report on Monday, December 1st. Royal Bank Of Canada lowered their target price on shares of CRH from $152.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Wells Fargo & Company cut their price target on CRH from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Thursday, January 29th. Finally, Morgan Stanley boosted their price objective on CRH from $131.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, CRH currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.87.

CRH Company 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.