CRH (NYSE:CRH) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of CRH (NYSE:CRH) from a hold rating to a buy rating in a report issued on Monday.

Other analysts also recently issued research reports about the company. HSBC initiated coverage on CRH in a research note on Monday. They set a “buy” rating and a $116.00 price target on the stock. Morgan Stanley increased their price target on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday. Barclays began coverage on shares of CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. Truist Financial increased their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, DA Davidson boosted their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CRH presently has a consensus rating of “Buy” and an average target price of $105.55.

CRH Trading Up 0.7 %

NYSE:CRH opened at $99.89 on Monday. The firm has a fifty day simple moving average of $92.20 and a 200-day simple moving average of $84.62. CRH has a 12 month low of $58.57 and a 12 month high of $102.51. The company has a market capitalization of $68.19 billion, a P/E ratio of 19.98, a PEG ratio of 1.45 and a beta of 1.29.

CRH Cuts Dividend

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

Hedge Funds Weigh In On CRH

Several institutional investors and hedge funds have recently modified their holdings of CRH. GHP Investment Advisors Inc. boosted its position in CRH by 336.4% during the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after purchasing an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new position in shares of CRH during the 3rd quarter worth approximately $25,000. UMB Bank n.a. lifted its position in shares of CRH by 72.7% during the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after buying an additional 125 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in CRH in the 3rd quarter worth $35,000. Finally, Baillie Gifford & Co. raised its position in CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after acquiring an additional 162 shares during the period. Hedge funds and other 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.