CRH plc (NYSE:CRH) Receives $106.42 Average Target Price from Brokerages

Shares of CRH plc (NYSE:CRH) have received a consensus rating of “Buy” from the thirteen analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $106.42.

CRH has been the topic of several analyst reports. Hsbc Global Res raised CRH to a “strong-buy” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Morgan Stanley raised their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. HSBC initiated coverage on shares of CRH in a report on Monday, November 11th. They set a “buy” rating and a $116.00 price target on the stock. Finally, Truist Financial increased their price objective on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 8th.

Institutional Investors Weigh In On CRH

Several large investors have recently added to or reduced their stakes in the company. LGT Group Foundation boosted its holdings in shares of CRH by 8,189.3% in the second quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after acquiring an additional 1,580,527 shares during the period. Assenagon Asset Management S.A. lifted its holdings in CRH by 35.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,238,173 shares of the construction company’s stock worth $317,778,000 after purchasing an additional 1,114,177 shares in the last quarter. M&G Plc bought a new position in CRH in the 2nd quarter worth about $2,745,000. CWM LLC grew its holdings in CRH by 91.2% during the 3rd quarter. CWM LLC now owns 4,064 shares of the construction company’s stock valued at $377,000 after buying an additional 1,938 shares in the last quarter. Finally, Diversified Trust Co increased its position in shares of CRH by 51.3% during the second quarter. Diversified Trust Co now owns 41,938 shares of the construction company’s stock valued at $3,145,000 after buying an additional 14,222 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Stock Performance

CRH stock opened at $97.93 on Monday. The business has a 50-day simple moving average of $97.30 and a two-hundred day simple moving average of $87.63. The company has a market capitalization of $66.51 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 1.25 and a beta of 1.29. CRH has a 52-week low of $65.74 and a 52-week high of $104.23.

CRH Cuts Dividend

The company also recently announced a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be paid 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 payout ratio is presently 37.20%.

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.