CRH (NYSE:CRH) Stock Gets Price Target Trim from Morgan Stanley

CRH (NYSE:CRH) had its price objective lowered by Morgan Stanley from $139.00 to $129.00 in a research note published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the construction company’s stock.

Other analysts also recently issued reports about the stock. Berenberg Bank set a $140.00 price target on shares of CRH in a report on Tuesday, September 8th. Royal Bank Of Canada decreased their price target on shares of CRH from $165.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, October 9th. Citigroup increased their price objective on shares of CRH from $106.00 to $108.00 and gave the company a “buy” rating in a report on Monday, November 2nd. Barclays cut their price objective on CRH from $131.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Finally, Rothschild & Co Redburn reduced their target price on CRH from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, October 1st. Nineteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, CRH presently has a consensus rating of “Moderate Buy” and an average price target of $125.97.

CRH Stock Performance

Shares of CRH stock traded down $0.51 on Wednesday, hitting $94.94. 6,110,227 shares of the company traded hands, compared to its average volume of 5,551,596. The stock has a market capitalization of $63.16 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.85 and a beta of 1.33. CRH has a 52 week low of $78.62 and a 52 week high of $131.55. The business has a 50-day simple moving average of $87.17 and a 200 day simple moving average of $103.55.

CRH (NYSE:CRH) last released its earnings results on Thursday, October 29th. The construction company reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. CRH had a net margin of 9.19% and a return on equity of 15.03%. The firm had revenue of $11.40 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter in the previous year, the firm earned $2.21 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts expect that CRH will post 5.55 earnings per share for the current year.

CRH Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 9th. Investors of record on Friday, November 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.6%. CRH’s dividend payout ratio (DPR) is 29.27%.

Insider Buying and Selling at CRH

In other CRH news, Director Siobhan Talbot purchased 2,000 shares of CRH stock in a transaction that occurred on Tuesday, November 3rd. The shares were bought at an average price of $94.63 per share, for a total transaction of $189,260.00. Following the completion of the transaction, the director owned 10,507 shares of the company’s stock, valued at approximately $994,277.41. This trade represents a 23.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On CRH

A number of hedge funds have recently bought and sold shares of the business. Continuum Advisory LLC purchased a new position in shares of CRH in the 2nd quarter worth $29,000. Cedar Mountain Advisors LLC bought a new stake in shares of CRH in the 1st quarter worth about $38,000. Anchor Investment Management LLC bought a new stake in shares of CRH in the 2nd quarter worth about $40,000. Eastern Bank raised its position in shares of CRH by 36.5% during the 2nd quarter. Eastern Bank now owns 550 shares of the construction company’s stock valued at $59,000 after buying an additional 147 shares in the last quarter. Finally, Physician Wealth Advisors Inc. raised its position in shares of CRH by 42.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 582 shares of the construction company’s stock valued at $48,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About CRH

CRH plc is an international building materials company headquartered in Dublin, Ireland. Formed in 1970 through the merger of Cement Limited and Roadstone Limited, the company supplies materials and products used in infrastructure, commercial construction and residential building.

CRH’s offerings include aggregates, cement, ready-mixed concrete and asphalt, as well as paving, architectural and construction products. It also provides materials and services for road construction and maintenance.

The company serves customers across North America and Europe through a network of local businesses and operations.