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

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

Other research analysts also recently issued reports about the company. StockNews.com downgraded CRH from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. DA Davidson raised their price objective on CRH from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Truist Financial raised their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays started coverage on CRH in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.55.

CRH Price Performance

Shares of CRH stock opened at $102.31 on Monday. The firm has a market cap of $69.84 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 1.44 and a beta of 1.29. CRH has a 52-week low of $58.57 and a 52-week high of $102.51. The stock has a 50-day simple moving average of $91.44 and a 200-day simple moving average of $84.19.

CRH Cuts Dividend

The company 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 dividend of $0.262 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, November 22nd. CRH’s dividend payout ratio is presently 37.20%.

Institutional Trading of CRH

A number of institutional investors and hedge funds have recently modified their holdings of the company. Dupont Capital Management Corp acquired a new stake in CRH in the 1st quarter valued at $13,492,000. Private Advisor Group LLC boosted its stake in CRH by 8.9% in the 1st quarter. Private Advisor Group LLC now owns 5,662 shares of the construction company’s stock valued at $488,000 after buying an additional 463 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in CRH by 41.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 25,409 shares of the construction company’s stock valued at $2,192,000 after buying an additional 7,414 shares in the last quarter. Empowered Funds LLC boosted its stake in CRH by 45.1% in the 1st quarter. Empowered Funds LLC now owns 9,062 shares of the construction company’s stock valued at $782,000 after buying an additional 2,818 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in CRH by 510.9% in the first quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock worth $1,963,000 after purchasing an additional 19,027 shares in the last quarter. 62.50% of the stock is currently owned by 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.