CRH (NYSE:CRH) Coverage Initiated by Analysts at HSBC

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

Several other equities research analysts also recently weighed in on CRH. StockNews.com downgraded shares of CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Morgan Stanley lifted their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday. Barclays initiated coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. DA Davidson lifted their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Finally, Truist Financial lifted their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.55.

CRH Stock Up 1.6 %

Shares of NYSE CRH opened at $102.31 on Monday. CRH has a twelve month low of $58.57 and a twelve month high of $102.51. The firm has a fifty day simple moving average of $91.68 and a 200 day simple moving average of $84.37. The company has a market capitalization of $69.84 billion, a PE ratio of 20.46, a P/E/G ratio of 1.44 and a beta of 1.29.

CRH Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be issued 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 (DPR) is presently 37.20%.

Institutional Trading of CRH

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dupont Capital Management Corp purchased a new position in CRH in the 1st quarter worth approximately $13,492,000. Private Advisor Group LLC grew its stake in CRH by 8.9% in the 1st quarter. Private Advisor Group LLC now owns 5,662 shares of the construction company’s stock worth $488,000 after buying an additional 463 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of CRH by 41.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,409 shares of the construction company’s stock valued at $2,192,000 after purchasing an additional 7,414 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of CRH by 45.1% in the 1st quarter. Empowered Funds LLC now owns 9,062 shares of the construction company’s stock valued at $782,000 after purchasing an additional 2,818 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of CRH by 510.9% in the 1st quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock valued at $1,963,000 after purchasing an additional 19,027 shares in 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.