CRH (NYSE:CRH) Price Target Cut to $115.00 by Analysts at Citigroup

CRH (NYSE:CRH) had its price target trimmed by Citigroup from $120.00 to $115.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

A number of other research firms have also issued reports on CRH. Truist Financial raised their target price on shares of CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. HSBC began coverage on CRH in a research note on Monday, November 11th. They set a “buy” rating and a $116.00 target price for the company. Barclays began coverage on CRH in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $110.00 price target on the stock. Finally, Morgan Stanley increased their price objective on CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $107.75.

CRH Stock Performance

CRH opened at $93.49 on Monday. The firm has a market cap of $63.50 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.25 and a beta of 1.31. The business has a 50 day moving average price of $98.02 and a 200 day moving average price of $89.52. CRH has a twelve month low of $66.42 and a twelve month high of $104.23.

CRH Cuts Dividend

The firm also recently announced a Variable dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 22nd were paid a $0.262 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a yield of 1.4%. CRH’s payout ratio is currently 21.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRH. FMR LLC raised its holdings in shares of CRH by 33.4% in the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company’s stock worth $3,341,258,000 after buying an additional 9,055,354 shares in the last quarter. Legal & General Group Plc raised its stake in CRH by 36,503.4% during the second quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock worth $361,278,000 after acquiring an additional 4,825,752 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 valued at $473,270,000 after acquiring an additional 4,274,336 shares during the period. American Century Companies Inc. boosted its stake in shares of CRH by 103.9% in the 2nd quarter. American Century Companies Inc. now owns 4,642,729 shares of the construction company’s stock valued at $348,112,000 after purchasing an additional 2,365,589 shares in the last quarter. Finally, LGT Group Foundation grew its holdings in shares of CRH by 8,189.3% in the 2nd quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock worth $119,955,000 after purchasing an additional 1,580,527 shares during the last quarter. Institutional investors own 62.50% of the company’s stock.

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.