Hsbc Global Res Upgrades CRH (NYSE:CRH) to Strong-Buy

Hsbc Global Res upgraded shares of CRH (NYSE:CRH - Free Report) to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other research firms have also recently commented on CRH. Truist Financial upped their price target on CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Barclays assumed coverage on CRH in a report on Tuesday, October 29th. They set an "overweight" rating and a $110.00 target price for the company. StockNews.com upgraded shares of CRH from a "hold" rating to a "buy" rating in a research note on Monday. DA Davidson raised their price objective on shares of CRH from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Monday. Finally, HSBC initiated coverage on shares of CRH in a research note on Monday. They set a "buy" rating and a $116.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $105.55.

CRH Stock Down 1.0 %

Shares of CRH traded down $0.97 during trading on Monday, reaching $99.18. 2,940,251 shares of the company traded hands, compared to its average volume of 4,891,577. The stock has a 50-day simple moving average of $91.92 and a 200-day simple moving average of $84.52. CRH has a twelve month low of $58.57 and a twelve month high of $102.51. The stock has a market cap of $67.71 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29.

CRH Cuts Dividend

The company also recently declared a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be paid a dividend of $0.262 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 1.4%. CRH's dividend payout ratio is presently 32.00%.

Hedge Funds Weigh In On CRH

A number of institutional investors have recently modified their holdings of CRH. Dupont Capital Management Corp purchased a new position in CRH during the 1st quarter worth $13,492,000. Empowered Funds LLC grew its holdings in shares of CRH by 45.1% during the first quarter. Empowered Funds LLC now owns 9,062 shares of the construction company's stock worth $782,000 after buying an additional 2,818 shares during the last quarter. First Eagle Investment Management LLC increased its position in CRH by 98.5% in the 1st quarter. First Eagle Investment Management LLC now owns 4,101 shares of the construction company's stock valued at $354,000 after acquiring an additional 2,035 shares during the period. Orion Portfolio Solutions LLC raised its stake in CRH by 12.6% during the 1st quarter. Orion Portfolio Solutions LLC now owns 94,815 shares of the construction company's stock valued at $8,179,000 after acquiring an additional 10,620 shares during the last quarter. Finally, Blair William & Co. IL acquired a new stake in CRH during the 1st quarter worth approximately $290,000. 62.50% of the stock is owned by institutional investors and hedge funds.

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.