CRH (NYSE:CRH) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of CRH (NYSE:CRH) from a hold rating to a buy rating in a report issued on Thursday.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. HSBC initiated coverage on shares of CRH in a research report on Monday, November 11th. They set a “buy” rating and a $116.00 price target for the company. Citigroup lowered their price objective on CRH from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, January 6th. DA Davidson boosted their price objective on CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Hsbc Global Res upgraded CRH to a “strong-buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CRH currently has an average rating of “Buy” and a consensus price target of $107.75.

CRH Price Performance

Shares of CRH stock opened at $101.68 on Thursday. CRH has a 1-year low of $71.18 and a 1-year high of $110.97. The company has a market cap of $69.06 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.15 and a beta of 1.30. The stock has a 50 day simple moving average of $98.42 and a 200-day simple moving average of $95.12.

CRH Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from CRH’s previous dividend of $0.23. CRH’s dividend payout ratio (DPR) is currently 21.00%.

Hedge Funds Weigh In On CRH

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of CRH during the 4th quarter worth $1,391,245,000. FMR LLC increased its position in CRH by 33.4% during the third quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after purchasing an additional 9,055,354 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in CRH by 515.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company’s stock worth $473,270,000 after purchasing an additional 4,274,336 shares during the period. Franklin Resources Inc. raised its stake in CRH by 17.0% during the fourth quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock worth $1,553,194,000 after purchasing an additional 2,437,868 shares during the period. Finally, Deutsche Bank AG boosted its holdings in CRH by 72.2% in the 4th quarter. Deutsche Bank AG now owns 4,717,597 shares of the construction company’s stock valued at $436,472,000 after purchasing an additional 1,978,225 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.