CRH (NYSE:CRH) Sets New 1-Year High on Analyst Upgrade

CRH plc (NYSE:CRH)’s share price reached a new 52-week high on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $102.51 and last traded at $102.25, with a volume of 1458128 shares changing hands. The stock had previously closed at $100.67.

CRH has been the subject of a number of other reports. Morgan Stanley upped their target price on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday. HSBC started coverage on CRH in a research report on Monday. They set a “buy” rating and a $116.00 price objective for the company. DA Davidson lifted their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial upped their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.55.

Institutional Trading of CRH

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Greenhaven Associates Inc. raised its holdings in shares of CRH by 0.3% in the 3rd quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company’s stock valued at $1,034,540,000 after purchasing an additional 35,209 shares during the period. Bank of New York Mellon Corp lifted its position in shares of CRH by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock valued at $646,188,000 after buying an additional 431,172 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of CRH by 35,497.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after acquiring an additional 5,068,682 shares during the period. Legal & General Group Plc increased its holdings in shares of CRH by 36,503.4% during the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after acquiring an additional 4,825,752 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in CRH by 103.9% in the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock valued at $348,112,000 after acquiring an additional 2,365,589 shares during the period. 62.50% of the stock is owned by institutional investors.

CRH Stock Performance

The firm has a market cap of $68.37 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 1.44 and a beta of 1.29. The firm has a fifty day simple moving average of $91.68 and a 200-day simple moving average of $84.37.

CRH Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be paid a $0.262 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio (DPR) is currently 37.20%.

CRH Company Profile

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.