CRH (NYSE:CRH) Now Covered by HSBC

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

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

CRH Stock Up 1.6 %

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

CRH Cuts Dividend

The company also recently disclosed 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 is Friday, November 22nd. CRH’s dividend payout ratio (DPR) is 37.20%.

Institutional Trading of CRH

Several institutional investors have recently bought and sold shares of the company. Landscape Capital Management L.L.C. purchased a new stake in CRH during the 3rd quarter valued at about $210,000. Payden & Rygel boosted its holdings in shares of CRH by 0.8% during the 3rd quarter. Payden & Rygel now owns 321,400 shares of the construction company’s stock valued at $29,807,000 after acquiring an additional 2,600 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of CRH by 2.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 114,657 shares of the construction company’s stock valued at $10,633,000 after acquiring an additional 2,685 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of CRH during the 3rd quarter valued at about $405,000. Finally, PCJ Investment Counsel Ltd. purchased a new stake in shares of CRH during the 3rd quarter valued at about $24,854,000. 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.