CRH (NYSE:CRH) Price Target Raised to $116.00

CRH (NYSE:CRH) had its price objective raised by JPMorgan Chase & Co. from $114.00 to $116.00 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

A number of other brokerages have also recently commented on CRH. Hsbc Global Res raised CRH to a “strong-buy” rating in a research report on Monday, November 11th. Morgan Stanley upped their target price on 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 issued a “buy” rating and a $116.00 price target on the stock. Barclays assumed coverage on shares of CRH in a report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective on the stock. Finally, DA Davidson raised their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $106.42.

CRH Stock Up 1.2 %

Shares of CRH stock opened at $101.40 on Wednesday. The firm has a market capitalization of $68.87 billion, a P/E ratio of 20.28, a PEG ratio of 1.27 and a beta of 1.29. CRH has a 52 week low of $61.45 and a 52 week high of $102.51. The company has a 50 day moving average price of $94.21 and a 200 day moving average price of $85.63.

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%.

Hedge Funds Weigh In On CRH

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eaton Financial Holdings Company LLC purchased a new stake in shares of CRH during the third quarter worth approximately $417,000. Virtu Financial LLC purchased a new stake in shares of CRH during the third quarter worth $3,581,000. Rehmann Capital Advisory Group acquired a new stake in shares of CRH in the third quarter valued at about $213,000. TD Private Client Wealth LLC lifted its stake in shares of CRH by 31.0% in the third quarter. TD Private Client Wealth LLC now owns 11,229 shares of the construction company’s stock worth $1,041,000 after buying an additional 2,660 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in CRH by 15.6% during the third quarter. Coldstream Capital Management Inc. now owns 3,631 shares of the construction company’s stock worth $340,000 after acquiring an additional 489 shares during the last quarter. 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.