CRH plc (NYSE:CRH) Receives $95.70 Average PT from Brokerages

Shares of CRH plc (NYSE:CRH) have been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $95.70.

CRH has been the topic of several research reports. Morgan Stanley raised shares of CRH from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $87.00 to $88.00 in a research report on Tuesday, July 9th. Stephens initiated coverage on CRH in a research report on Tuesday, June 18th. They set an “overweight” rating and a $95.00 target price on the stock. Citigroup reduced their price target on CRH from $109.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Truist Financial increased their price objective on CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com lowered CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th.

CRH Stock Down 0.8 %

CRH stock opened at $92.50 on Wednesday. The firm has a 50 day moving average price of $85.83 and a 200-day moving average price of $82.11. CRH has a twelve month low of $51.59 and a twelve month high of $94.14. The company has a market capitalization of $63.52 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.33 and a beta of 1.30.

CRH (NYSE:CRH) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting analysts’ consensus estimates of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Equities analysts expect that CRH will post 5.44 EPS for the current fiscal year.

CRH Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a yield of 1.7%. CRH’s payout ratio is presently 29.77%.

Hedge Funds Weigh In On CRH

Institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new stake in CRH in the 4th quarter worth approximately $858,000. Wells Fargo & Company MN boosted its stake in shares of CRH by 13.7% in the 4th quarter. Wells Fargo & Company MN now owns 246,775 shares of the construction company’s stock valued at $17,067,000 after purchasing an additional 29,720 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of CRH by 30.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company’s stock valued at $54,000 after purchasing an additional 183 shares during the last quarter. Congress Wealth Management LLC DE purchased a new position in CRH in the 4th quarter worth $212,000. Finally, Artisan Partners Limited Partnership lifted its stake in CRH by 2,426.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,826,501 shares of the construction company’s stock worth $195,481,000 after purchasing an additional 2,714,634 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.