CRH (NYSE:CRH) Raised to “Strong-Buy” at Hsbc Global Res

Hsbc Global Res upgraded shares of CRH (NYSE:CRH) to a strong-buy rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on CRH. Truist Financial increased 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. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research note on Monday. Barclays assumed coverage on CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective for the company. HSBC started coverage on shares of CRH in a research report on Monday. They set a “buy” rating and a $116.00 target price on the stock. Finally, 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 note on Monday. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $105.55.

CRH Price Performance

CRH stock opened at $99.89 on Monday. CRH has a 1 year low of $58.57 and a 1 year high of $102.51. The stock has a market cap of $68.19 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.45 and a beta of 1.29. The company has a 50 day simple moving average of $92.20 and a 200 day simple moving average of $84.62.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be given a $0.262 dividend. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio (DPR) is presently 32.00%.

Institutional Investors Weigh In On CRH

Large investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. lifted its stake in CRH by 336.4% in the second quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock valued at $25,000 after buying an additional 259 shares during the period. Deseret Mutual Benefit Administrators acquired a new position in shares of CRH during the 3rd quarter valued at $25,000. UMB Bank n.a. grew its holdings in CRH by 72.7% in the third quarter. UMB Bank n.a. now owns 297 shares of the construction company’s stock worth $28,000 after purchasing an additional 125 shares during the period. Meeder Asset Management Inc. bought a new stake in CRH in the third quarter valued at $35,000. Finally, Baillie Gifford & Co. raised its holdings in shares of CRH by 70.7% during the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock valued at $36,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.