CRH (NYSE:CRH) Given New $104.00 Price Target at Morgan Stanley

CRH (NYSE:CRH) had its price target boosted by Morgan Stanley from $95.00 to $104.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of CRH from a “buy” rating to a “hold” rating in a report on Friday, August 16th. 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 for the company. Truist Financial increased their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday. Finally, DA Davidson increased their price target on shares of CRH from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.55.

CRH Price Performance

CRH opened at $102.31 on Monday. The firm has a fifty day moving average price of $91.44 and a 200 day moving average price of $84.19. CRH has a 1 year low of $58.57 and a 1 year high of $102.51. The stock has a market cap of $69.84 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.44 and a beta of 1.29.

CRH Cuts Dividend

The business also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 22nd will be issued a $0.262 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd. CRH’s dividend payout ratio is presently 37.20%.

Hedge Funds Weigh In On CRH

A number of institutional investors have recently made changes to their positions in CRH. Lazard Asset Management LLC grew its stake in CRH by 35,497.5% during the 1st quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock worth $438,455,000 after buying an additional 5,068,682 shares during the last quarter. Legal & General Group Plc increased its stake in CRH by 36,503.4% in the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after purchasing an additional 4,825,752 shares in the last quarter. TD Asset Management Inc increased its stake in CRH by 2,199.7% in the 1st quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock worth $288,383,000 after purchasing an additional 3,197,092 shares in the last quarter. Acadian Asset Management LLC increased its stake in CRH by 1,095.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,275,591 shares of the construction company’s stock worth $282,512,000 after purchasing an additional 3,001,488 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in CRH by 103.9% in the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock worth $348,112,000 after purchasing an additional 2,365,589 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

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.