CRH plc (NYSE:CRH) Receives $95.70 Average PT from Brokerages

Shares of CRH plc (NYSE:CRH) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $95.70.

Several research analysts have weighed in on the stock. DA Davidson upped their price objective on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley raised CRH from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Citigroup dropped their target price on CRH from $109.00 to $99.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Truist Financial lifted their target price on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com cut CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th.

Hedge Funds Weigh In On CRH

Several institutional investors have recently added to or reduced their stakes in CRH. Nisa Investment Advisors LLC raised its position in CRH by 187.1% in the third quarter. Nisa Investment Advisors LLC now owns 69,839 shares of the construction company’s stock worth $6,477,000 after acquiring an additional 45,516 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of CRH by 8.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,081 shares of the construction company’s stock worth $842,000 after purchasing an additional 683 shares during the period. Arkadios Wealth Advisors purchased a new position in CRH in the third quarter valued at approximately $206,000. Forsta AP Fonden grew its holdings in CRH by 3.1% during the third quarter. Forsta AP Fonden now owns 245,153 shares of the construction company’s stock valued at $22,735,000 after purchasing an additional 7,300 shares during the period. Finally, Allworth Financial LP grew its holdings in CRH by 4.3% during the third quarter. Allworth Financial LP now owns 8,726 shares of the construction company’s stock valued at $809,000 after purchasing an additional 357 shares during the period. Institutional investors own 62.50% of the company’s stock.

CRH Price Performance

Shares of CRH opened at $91.60 on Friday. The stock has a 50-day moving average of $89.40 and a 200-day moving average of $82.85. CRH has a one year low of $51.59 and a one year high of $94.14. The company has a market cap of $62.90 billion, a PE ratio of 15.24, a P/E/G ratio of 1.30 and a beta of 1.30.

CRH (NYSE:CRH) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting the consensus estimate of $1.85. The firm had revenue of $9.65 billion for the quarter, compared to the consensus estimate of $10.16 billion. Analysts expect that CRH will post 5.44 EPS for the current fiscal year.

CRH Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.35 per share. This represents a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 23rd. CRH’s payout ratio is 26.46%.

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.