Truist Financial Issues Positive Forecast for CRH (NYSE:CRH) Stock Price

CRH (NYSE:CRH) had its price objective increased by Truist Financial from $125.00 to $140.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group raised shares of CRH to a “strong-buy” rating in a report on Monday, September 22nd. JPMorgan Chase & Co. began coverage on shares of CRH in a report on Tuesday, August 26th. They issued an “overweight” rating and a $130.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of CRH in a report on Tuesday, September 2nd. UBS Group set a $152.00 price objective on shares of CRH in a report on Wednesday. Finally, Vertical Research raised shares of CRH to a “strong-buy” rating in a report on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $124.31.

CRH Trading Up 1.1%

Shares of NYSE:CRH opened at $121.13 on Thursday. The company has a fifty day simple moving average of $110.02 and a 200 day simple moving average of $98.25. The firm has a market cap of $81.48 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32. CRH has a 12-month low of $76.75 and a 12-month high of $121.88.

CRH (NYSE:CRH) last issued its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.12). The company had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.27 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 EPS. As a group, equities research analysts forecast that CRH will post 5.47 EPS for the current fiscal year.

CRH Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Stockholders of record on Friday, August 22nd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.48 annualized dividend and a dividend yield of 1.2%. CRH’s payout ratio is 23.22%.

Hedge Funds Weigh In On CRH

Several hedge funds and other institutional investors have recently modified their holdings of the company. L2 Asset Management LLC boosted its holdings in shares of CRH by 3.0% during the second quarter. L2 Asset Management LLC now owns 3,028 shares of the construction company’s stock valued at $278,000 after acquiring an additional 89 shares during the period. Mission Wealth Management LP boosted its holdings in shares of CRH by 1.1% during the second quarter. Mission Wealth Management LP now owns 9,548 shares of the construction company’s stock valued at $877,000 after acquiring an additional 107 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in shares of CRH by 3.7% during the second quarter. Sound View Wealth Advisors Group LLC now owns 2,982 shares of the construction company’s stock valued at $274,000 after acquiring an additional 107 shares during the period. Park Place Capital Corp lifted its holdings in CRH by 59.9% in the second quarter. Park Place Capital Corp now owns 307 shares of the construction company’s stock worth $29,000 after purchasing an additional 115 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in CRH by 5.0% in the first quarter. Diversify Advisory Services LLC now owns 2,572 shares of the construction company’s stock worth $240,000 after purchasing an additional 123 shares during the period. Institutional investors and hedge funds 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.