CRH (NYSE:CRH) Sets New 12-Month High – Should You Buy?

CRH plc (NYSE:CRH)’s share price hit a new 52-week high on Monday . The company traded as high as $102.76 and last traded at $102.71, with a volume of 888956 shares traded. The stock had previously closed at $101.40.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRH shares. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. Truist Financial lifted their price target on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Barclays began coverage on CRH in a research report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. Morgan Stanley boosted their target price on CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, HSBC assumed coverage on shares of CRH in a research note on Monday, November 11th. They issued a “buy” rating and a $116.00 price target on the stock. One 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $106.42.

CRH Stock Up 1.4 %

The stock has a market cap of $69.82 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.28 and a beta of 1.29. The company’s 50 day moving average price is $94.21 and its 200-day moving average price is $85.67.

CRH Cuts Dividend

The business also recently announced 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 yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd. CRH’s dividend payout ratio is currently 37.20%.

Hedge Funds Weigh In On CRH

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in CRH by 33.4% in the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after purchasing an additional 9,055,354 shares in the last quarter. State Street Corp lifted its position in shares of CRH by 4.9% during the 3rd quarter. State Street Corp now owns 13,139,233 shares of the construction company’s stock valued at $1,218,532,000 after acquiring an additional 618,786 shares during the period. Greenhaven Associates Inc. increased its stake in CRH by 0.3% in the third quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company’s stock valued at $1,034,540,000 after purchasing an additional 35,209 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CRH by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company’s stock valued at $646,188,000 after purchasing an additional 431,172 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of CRH by 2.1% during the third quarter. Geode Capital Management LLC now owns 7,985,356 shares of the construction company’s stock valued at $738,113,000 after purchasing an additional 165,825 shares during the period. 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.