Loop Capital Begins Coverage on CRH (NYSE:CRH)

Loop Capital started coverage on shares of CRH (NYSE:CRH) in a report published on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $114.00 target price on the construction company’s stock.

Several other research firms have also weighed in on CRH. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Berenberg Bank set a $120.00 target price on shares of CRH in a research note on Friday, February 28th. Citigroup dropped their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $110.00.

CRH Price Performance

Shares of NYSE CRH opened at $84.75 on Wednesday. CRH has a 1-year low of $71.18 and a 1-year high of $110.97. The business’s 50 day moving average is $96.40 and its two-hundred day moving average is $96.24. The stock has a market capitalization of $57.31 billion, a P/E ratio of 16.95, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a $0.37 dividend. This is a positive change from CRH’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.75%. CRH’s payout ratio is presently 22.66%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRH. FMR LLC lifted its holdings in shares of CRH by 13.0% in the 4th quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock worth $3,781,004,000 after buying an additional 4,687,345 shares during the period. Vanguard Group Inc. boosted its stake in shares of CRH by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock valued at $3,624,719,000 after purchasing an additional 145,101 shares in the last quarter. Franklin Resources Inc. increased its holdings in CRH by 17.0% during the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock valued at $1,553,194,000 after buying an additional 2,437,868 shares during the period. Norges Bank bought a new position in CRH in the fourth quarter worth approximately $1,391,245,000. Finally, Bank of New York Mellon Corp lifted its holdings in CRH by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock worth $796,546,000 after buying an additional 826,758 shares during the period. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.