Loop Capital Begins Coverage on CRH (NYSE:CRH)

Loop Capital assumed coverage on shares of CRH (NYSE:CRH - Free Report) in a report published on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $114.00 price target on the construction company's stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of CRH from $118.00 to $114.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Citigroup reduced their price target on shares of CRH from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. StockNews.com upgraded shares of CRH from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th. Finally, Berenberg Bank set a $120.00 price objective on shares of CRH in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, CRH currently has a consensus rating of "Buy" and a consensus price target of $109.83.

CRH Price Performance

CRH traded up $1.41 on Wednesday, hitting $86.15. 1,903,061 shares of the stock were exchanged, compared to its average volume of 5,622,551. CRH has a 12 month low of $71.18 and a 12 month high of $110.97. The firm has a market capitalization of $58.26 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.15 and a beta of 1.30. The business has a 50-day moving average of $96.40 and a two-hundred day moving average of $96.26.

CRH Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Friday, March 14th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, March 14th. This is a positive change from CRH's previous quarterly dividend of $0.23. This represents a $1.48 annualized dividend and a yield of 1.72%. CRH's dividend payout ratio is currently 22.66%.

Institutional Investors Weigh In On CRH

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors grew its stake in CRH by 15.9% in the third quarter. Captrust Financial Advisors now owns 7,958 shares of the construction company's stock valued at $738,000 after acquiring an additional 1,091 shares during the period. Centiva Capital LP bought a new position in shares of CRH in the 3rd quarter worth $230,000. IHT Wealth Management LLC bought a new stake in CRH during the 3rd quarter valued at $240,000. Stifel Financial Corp raised its holdings in CRH by 10.7% during the third quarter. Stifel Financial Corp now owns 104,969 shares of the construction company's stock worth $9,735,000 after buying an additional 10,136 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of CRH in the third quarter valued at $372,000. 62.50% of the stock is owned by institutional investors.

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.