CRH (NYSE:CRH) Coverage Initiated at HSBC

HSBC started coverage on shares of CRH (NYSE:CRH) in a research note issued to investors on Monday. The firm issued a buy rating and a $116.00 price objective on the construction company’s stock.

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

CRH Trading Up 0.7 %

CRH opened at $99.89 on Monday. The stock 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. The stock has a 50-day moving average price of $92.20 and a 200-day moving average price 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 declared a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be given a dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd. CRH’s dividend payout ratio is currently 32.00%.

Institutional Trading of CRH

Several large investors have recently bought and sold shares of CRH. Maverick Capital Ltd. purchased a new position in shares of CRH in the 3rd quarter valued at approximately $1,372,000. Point72 Europe London LLP lifted its position in CRH by 7.4% during the third quarter. Point72 Europe London LLP now owns 519,718 shares of the construction company’s stock valued at $48,199,000 after buying an additional 35,863 shares during the period. Fred Alger Management LLC bought a new stake in shares of CRH during the 3rd quarter valued at $610,000. Captrust Financial Advisors grew its position in shares of CRH by 15.9% in the 3rd quarter. Captrust Financial Advisors now owns 7,958 shares of the construction company’s stock worth $738,000 after buying an additional 1,091 shares during the period. Finally, Martingale Asset Management L P bought a new position in shares of CRH in the 3rd quarter worth about $1,224,000. 62.50% of the stock is 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.