Citigroup Cuts CRH (NYSE:CRH) Price Target to $115.00

CRH (NYSE:CRH) had its price objective decreased by Citigroup from $120.00 to $115.00 in a report issued on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the construction company’s stock.

A number of other research analysts also recently issued reports on the stock. HSBC began coverage on shares of CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price objective on the stock. DA Davidson increased their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Truist Financial upped their target price 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. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their price target on CRH from $114.00 to $116.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $107.75.

CRH Price Performance

NYSE:CRH opened at $92.37 on Monday. The company has a market capitalization of $62.74 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.25 and a beta of 1.31. CRH has a 1-year low of $66.42 and a 1-year high of $104.23. The business has a 50 day moving average of $97.90 and a 200 day moving average of $89.65.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.262 per share. The ex-dividend date was Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio is presently 21.00%.

Institutional Inflows and Outflows

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

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.