CRH (NYSE:CRH) Hits New 52-Week High Following Analyst Upgrade

Shares of CRH plc (NYSE:CRH) hit a new 52-week high during trading on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $102.51 and last traded at $102.25, with a volume of 1458128 shares traded. The stock had previously closed at $100.67.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday. HSBC began coverage on shares of CRH in a report on Monday. They set a “buy” rating and a $116.00 price target for the company. Barclays began coverage on shares of CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price target for the company. Truist Financial boosted their price target on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Finally, DA Davidson boosted their price target on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.55.

Institutional Investors Weigh In On CRH

Several hedge funds have recently modified their holdings of the stock. Dupont Capital Management Corp acquired a new position in CRH during the first quarter valued at approximately $13,492,000. Private Advisor Group LLC lifted its position in CRH by 8.9% during the first 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. lifted its position in CRH by 41.2% during the first 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 lifted its position in CRH by 45.1% during the first 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 lifted its position in CRH by 510.9% during the first quarter. SG Americas Securities LLC now owns 22,751 shares of the construction company’s stock valued at $1,963,000 after buying an additional 19,027 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

CRH Price Performance

The stock has a market capitalization of $69.84 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.44 and a beta of 1.29. The business’s 50-day simple moving average is $91.44 and its two-hundred day simple moving average is $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 paid a dividend of $0.262 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio is currently 37.20%.

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.