CRH (NYSE:CRH) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of CRH (NYSE:CRH) from a hold rating to a buy rating in a research note released on Thursday morning.

Other equities research analysts also recently issued reports about the stock. HSBC assumed coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price target on the stock. Truist Financial boosted their target price on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 8th. DA Davidson raised their price target on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Hsbc Global Res upgraded CRH to a “strong-buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their target price on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $107.75.

CRH Trading Down 0.6 %

Shares of CRH opened at $101.68 on Thursday. The company’s 50-day moving average price is $98.42 and its 200 day moving average price is $95.12. CRH has a 12-month low of $71.18 and a 12-month high of $110.97. The firm has a market cap of $69.06 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.37 per share. This is an increase from CRH’s previous dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. CRH’s dividend payout ratio is 21.00%.

Hedge Funds Weigh In On CRH

Several hedge funds and other institutional investors have recently made changes to their positions in CRH. Norges Bank acquired a new position in CRH during the 4th quarter worth approximately $1,391,245,000. FMR LLC lifted its position in shares of CRH by 33.4% during the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after purchasing an additional 9,055,354 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CRH by 515.7% in 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 buying an additional 4,274,336 shares during the last quarter. Franklin Resources Inc. increased its holdings in CRH by 17.0% in the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock valued at $1,553,194,000 after buying an additional 2,437,868 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in CRH by 72.2% in the fourth quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company’s stock valued at $436,472,000 after buying an additional 1,978,225 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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.