CRH (NYSE:CRH) Downgraded by StockNews.com to "Hold"

StockNews.com lowered shares of CRH (NYSE:CRH - Free Report) from a buy rating to a hold rating in a report issued on Friday.

CRH has been the topic of several other research reports. Stephens assumed coverage on shares of CRH in a research report on Tuesday, June 18th. They set an overweight rating and a $95.00 price target on the stock. Morgan Stanley raised CRH from an equal weight rating to an overweight rating and upped their price target for the stock from $87.00 to $88.00 in a report on Tuesday, July 9th. Truist Financial raised their price objective on CRH from $100.00 to $110.00 and gave the company a buy rating in a report on Friday, August 9th. Citigroup reduced their target price on CRH from $109.00 to $99.00 and set a buy rating for the company in a research note on Thursday, July 11th. Finally, Royal Bank of Canada initiated coverage on shares of CRH in a research note on Tuesday, May 14th. They issued an outperform rating and a $110.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $95.70.

CRH Price Performance

CRH stock traded down $1.48 during trading hours on Friday, hitting $84.14. 2,976,304 shares of the stock traded hands, compared to its average volume of 5,313,449. The firm's 50 day moving average price is $78.70 and its 200-day moving average price is $79.81. The stock has a market capitalization of $57.78 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.34 and a beta of 1.30. CRH has a 1 year low of $51.59 and a 1 year high of $88.00.

CRH (NYSE:CRH - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The construction company reported $1.85 EPS for the quarter, meeting the consensus estimate of $1.85. The business had revenue of $9.65 billion during the quarter, compared to analysts' expectations of $10.16 billion. Research analysts forecast that CRH will post 5.39 earnings per share for the current fiscal year.

CRH Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, August 23rd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a yield of 1.7%. CRH's dividend payout ratio (DPR) is currently 31.48%.

Institutional Trading of CRH

Institutional investors have recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV raised its stake in shares of CRH by 17.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 914 shares of the construction company's stock valued at $79,000 after acquiring an additional 133 shares in the last quarter. Janiczek Wealth Management LLC raised its position in CRH by 3.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 4,908 shares of the construction company's stock valued at $423,000 after purchasing an additional 160 shares in the last quarter. NBC Securities Inc. boosted its stake in shares of CRH by 71.5% in the 1st quarter. NBC Securities Inc. now owns 415 shares of the construction company's stock valued at $35,000 after buying an additional 173 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of CRH by 30.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 783 shares of the construction company's stock worth $54,000 after buying an additional 183 shares in the last quarter. Finally, Gallacher Capital Management LLC increased its stake in shares of CRH by 3.2% during the second quarter. Gallacher Capital Management LLC now owns 5,997 shares of the construction company's stock worth $450,000 after buying an additional 188 shares during the period. Institutional investors and hedge funds own 62.50% of the company's stock.

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.