CRH (NYSE:CRH) Research Coverage Started at Barclays

Barclays assumed coverage on shares of CRH (NYSE:CRH) in a report released on Tuesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $110.00 price target on the construction company’s stock.

Other analysts have also recently issued research reports about the stock. Truist Financial upped their price objective on shares of CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley upgraded CRH from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $87.00 to $88.00 in a research report on Tuesday, July 9th. StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Citigroup dropped their target price on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, DA Davidson raised their target price on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.00.

CRH Price Performance

NYSE CRH opened at $95.45 on Tuesday. CRH has a 1-year low of $53.42 and a 1-year high of $96.82. The company has a market cap of $65.16 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.30 and a beta of 1.30. The stock’s 50 day simple moving average is $90.38 and its 200-day simple moving average is $83.28.

CRH (NYSE:CRH) last announced its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.85. The firm had revenue of $9.65 billion during the quarter, compared to analysts’ expectations of $10.16 billion. On average, equities research analysts anticipate that CRH will post 5.44 EPS for the current fiscal year.

CRH Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were given a dividend of $0.35 per share. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 23rd. CRH’s dividend payout ratio is presently 26.46%.

Hedge Funds Weigh In On CRH

Large investors have recently made changes to their positions in the stock. GHP Investment Advisors Inc. raised its position in CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after purchasing an additional 259 shares during the period. Deseret Mutual Benefit Administrators purchased a new stake in shares of CRH in the 3rd quarter valued at $25,000. UMB Bank n.a. lifted its stake in CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after acquiring an additional 125 shares in the last quarter. Rothschild Investment LLC purchased a new position in CRH during the 2nd quarter valued at about $43,000. Finally, Quarry LP acquired a new position in CRH in the 2nd quarter valued at about $49,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

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.