Citigroup Trims CRH (NYSE:CRH) Target Price to $99.00

CRH (NYSE:CRH) had its price objective decreased by Citigroup from $109.00 to $99.00 in a research report report published on Thursday, Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

CRH has been the subject of several other reports. Morgan Stanley upgraded CRH from an equal weight rating to an overweight rating and increased their price objective for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Stephens initiated coverage on CRH in a report on Tuesday, June 18th. They set an overweight rating and a $95.00 price objective for the company. StockNews.com lowered CRH from a strong-buy rating to a buy rating in a report on Monday, May 13th. Stifel Nicolaus reiterated a hold rating and set a $82.00 price objective (up from $80.00) on shares of CRH in a report on Monday, April 15th. Finally, Truist Financial increased their price objective on CRH from $95.00 to $100.00 and gave the stock a buy rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $91.90.

CRH Stock Down 0.2 %

Shares of CRH stock opened at $79.42 on Thursday. The business has a fifty day simple moving average of $78.36 and a 200-day simple moving average of $77.75. CRH has a 12 month low of $51.59 and a 12 month high of $88.00.

CRH (NYSE:CRH) last issued its earnings results on Friday, May 10th. The construction company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.04. The business had revenue of $6.53 billion during the quarter, compared to analyst estimates of $6.60 billion. As a group, equities research analysts expect that CRH will post 5.38 EPS for the current year.

CRH Increases Dividend

The business also recently announced a Variable dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, May 24th were issued a dividend of $0.35 per share. This is a positive change from CRH’s previous Variable dividend of $0.23. This represents a yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 23rd.

Hedge Funds Weigh In On CRH

Several institutional investors have recently bought and sold shares of CRH. American Century Companies Inc. acquired a new stake in shares of CRH in the third quarter valued at about $75,611,000. Wellington Management Group LLP acquired a new stake in shares of CRH in the third quarter valued at about $416,982,000. B. Riley Wealth Advisors Inc. grew its position in shares of CRH by 143.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 9,361 shares of the construction company’s stock valued at $512,000 after purchasing an additional 5,508 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of CRH in the third quarter valued at about $3,284,000. Finally, Vanguard Group Inc. acquired a new stake in shares of CRH in the third quarter valued at about $1,484,901,000. 62.50% of the stock is currently owned by institutional investors.

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.