CRH (NYSE:CRH) Price Target Raised to $104.00 at Morgan Stanley

CRH (NYSE:CRH) had its price objective increased by Morgan Stanley from $95.00 to $104.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

CRH has been the subject of a number of other research reports. DA Davidson lifted their price objective on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Truist Financial boosted their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, November 8th. StockNews.com cut shares of CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price for the company. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.55.

CRH Price Performance

Shares of CRH stock opened at $99.89 on Monday. The stock has a market cap of $68.19 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The firm has a fifty day moving average price of $92.20 and a 200 day moving average price of $84.62. CRH has a 1 year low of $58.57 and a 1 year high of $102.51.

CRH Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRH. GHP Investment Advisors Inc. lifted its position in shares of CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after acquiring an additional 259 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new position in CRH in the 3rd quarter valued at $25,000. UMB Bank n.a. lifted its holdings in CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock valued at $28,000 after purchasing an additional 125 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in CRH during the 3rd quarter worth $35,000. Finally, Baillie Gifford & Co. grew its holdings in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after buying an additional 162 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other 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.