CRH (NYSE:CRH) Coverage Initiated by Analysts at HSBC

HSBC initiated coverage on shares of CRH (NYSE:CRH) in a report released on Monday morning. The firm issued a buy rating and a $116.00 target price on the construction company’s stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley lifted their target price on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial lifted their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. DA Davidson increased 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. Barclays initiated coverage on shares of CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target on the stock. Finally, StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $105.55.

CRH Stock Up 0.7 %

CRH stock opened at $99.89 on Monday. The firm has a market cap of $68.19 billion, a PE ratio of 19.98, a P/E/G ratio of 1.45 and a beta of 1.29. The business has a 50 day moving average of $92.20 and a 200-day moving average of $84.62. CRH has a 12-month low of $58.57 and a 12-month high of $102.51.

CRH Cuts Dividend

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

Institutional Investors Weigh In On CRH

Several hedge funds and other institutional investors 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 valued at $3,341,258,000 after acquiring an additional 9,055,354 shares in the last quarter. Greenhaven Associates Inc. boosted its holdings in 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 grew its position in shares of CRH by 5.3% during the 2nd 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 purchasing an additional 431,172 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 worth $473,270,000 after purchasing an additional 4,274,336 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of CRH by 35,497.5% in the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after buying an additional 5,068,682 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors.

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.