CRH (NYSE:CRH) Stock Price Target Lowered at Truist Financial

CRH (NYSE:CRH) had its target price cut by Truist Financial from $130.00 to $105.00 in a research report released on Monday, Marketbeat.com reports. They currently have a buy rating on the construction company’s stock.

CRH has been the topic of several other reports. Wells Fargo & Company dropped their price objective on CRH from $107.00 to $106.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup reduced their target price on CRH from $122.00 to $106.00 and set a “buy” rating for the company in a research note on Friday. Sanford C. Bernstein reissued an “outperform” rating on shares of CRH in a research report on Tuesday, June 23rd. Stephens dropped their price target on shares of CRH from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Finally, Berenberg Bank set a $140.00 price target on shares of CRH in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $134.19.

CRH Price Performance

NYSE:CRH opened at $82.65 on Monday. The firm has a 50-day moving average of $92.35 and a two-hundred day moving average of $102.31. The stock has a market cap of $54.99 billion, a P/E ratio of 14.58, a PEG ratio of 1.61 and a beta of 1.31. CRH has a 1-year low of $80.13 and a 1-year high of $131.55.

CRH (NYSE:CRH) last announced its earnings results on Friday, July 31st. The construction company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.19. The business had revenue of $10.78 billion for the quarter, compared to analyst estimates of $10.68 billion. CRH had a return on equity of 15.76% and a net margin of 9.93%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 earnings per share. As a group, equities analysts expect that CRH will post 5.9 earnings per share for the current year.

CRH Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Friday, August 14th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, August 14th. This represents a $1.56 annualized dividend and a yield of 1.9%. CRH’s dividend payout ratio is presently 27.51%.

Institutional Investors Weigh In On CRH

A number of institutional investors have recently made changes to their positions in CRH. Handelsbanken Fonder AB increased its holdings in shares of CRH by 13.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 332,198 shares of the construction company’s stock worth $35,545,000 after acquiring an additional 38,141 shares during the period. QRG Capital Management Inc. boosted its stake in CRH by 7.7% during the 2nd quarter. QRG Capital Management Inc. now owns 196,860 shares of the construction company’s stock valued at $21,064,000 after purchasing an additional 14,091 shares during the period. Lazard Asset Management LLC grew its position in CRH by 4.1% in the 1st quarter. Lazard Asset Management LLC now owns 2,336,754 shares of the construction company’s stock worth $245,460,000 after purchasing an additional 93,106 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in CRH in the 2nd quarter worth about $2,229,000. Finally, Quantinno Capital Management LP increased its stake in shares of CRH by 16.5% in the first quarter. Quantinno Capital Management LP now owns 223,644 shares of the construction company’s stock valued at $23,507,000 after purchasing an additional 31,603 shares during the period. 62.50% of the stock is currently owned by institutional investors.

CRH Company Profile

CRH plc is a global building materials company headquartered in Ireland. Formerly known as Cement Roadstone Holdings, the company was formed in 1970 through the merger of Cement Limited and Roadstone Limited. CRH provides materials, products and services used in residential, commercial and infrastructure construction.

Its portfolio includes aggregates, asphalt, ready-mixed concrete, cement, architectural products, precast concrete, paving and construction accessories. The company serves customers across the construction value chain, including contractors, distributors, homebuilders and infrastructure developers.

CRH operates primarily in North America and Europe, with businesses spanning the United States, Canada and multiple European markets.