CRH (NYSE:CRH) Stock Rating Upgraded by Hsbc Global Res

Hsbc Global Res upgraded shares of CRH (NYSE:CRH) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other brokerages also recently commented on CRH. Truist Financial lifted their target price on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a report on Monday. HSBC initiated coverage on shares of CRH in a research report on Monday. They issued a “buy” rating and a $116.00 price objective on the stock. Morgan Stanley lifted their target price on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Barclays began coverage on shares of CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $105.55.

CRH Stock Performance

Shares of NYSE:CRH opened at $99.89 on Monday. The company has a 50-day simple moving average of $92.20 and a 200 day simple moving average of $84.62. The company has a market capitalization of $68.19 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. CRH has a 52-week low of $58.57 and a 52-week high of $102.51.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be issued a $0.262 dividend. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH’s dividend payout ratio is presently 32.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in CRH by 33.4% during the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after buying an additional 9,055,354 shares in the last quarter. Lazard Asset Management LLC boosted its position 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 in the last quarter. Legal & General Group Plc increased its stake in CRH by 36,503.4% in the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after acquiring an additional 4,825,752 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in CRH by 515.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock valued at $473,270,000 after purchasing an additional 4,274,336 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in CRH by 1,095.0% during the first quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock worth $282,512,000 after purchasing an additional 3,001,488 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

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.