CRH plc (NYSE:CRH) Receives $105.55 Average Price Target from Analysts

CRH plc (NYSE:CRH) has received an average rating of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $105.55.

A number of analysts recently commented on the stock. Morgan Stanley upped their price objective 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. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. HSBC assumed coverage on CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 price objective for the company. Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a report on Monday, November 11th.

Hedge Funds Weigh In On CRH

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of CRH by 33.4% in the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock valued at $3,341,258,000 after acquiring an additional 9,055,354 shares during the period. Lazard Asset Management LLC grew its holdings in CRH by 35,497.5% during the first quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after purchasing an additional 5,068,682 shares during the period. Legal & General Group Plc increased its position in CRH by 36,503.4% during the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after buying an additional 4,825,752 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in CRH by 515.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock valued at $473,270,000 after buying an additional 4,274,336 shares during the period. Finally, Acadian Asset Management LLC lifted its position in shares of CRH by 1,095.0% in the first quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock valued at $282,512,000 after buying an additional 3,001,488 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

CRH Stock Performance

Shares of NYSE:CRH opened at $99.66 on Thursday. The company has a 50 day moving average price of $93.07 and a two-hundred day moving average price of $85.11. The company has a market capitalization of $67.69 billion, a PE ratio of 19.93, a PEG ratio of 1.43 and a beta of 1.29. CRH has a 52 week low of $58.57 and a 52 week high of $102.51.

CRH Cuts Dividend

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

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.