CRH (NYSE:CRH) Trading Down 2.8%

Shares of CRH plc (NYSE:CRH) fell 2.8% during mid-day trading on Monday . The stock traded as low as $82.79 and last traded at $82.90. 1,090,698 shares were traded during trading, a decline of 79% from the average session volume of 5,207,402 shares. The stock had previously closed at $85.33.

Analyst Ratings Changes

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

CRH Stock Down 0.4 %

The firm has a market capitalization of $58.56 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.38 and a beta of 1.30. The company has a 50-day moving average price of $82.52 and a 200-day moving average price of $81.36.

CRH (NYSE:CRH) last announced its quarterly earnings results on Thursday, August 8th. The construction company reported $1.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.85. The business had revenue of $9.65 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, analysts forecast that CRH plc will post 5.44 earnings per share for the current year.

CRH Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a yield of 1.7%. CRH’s payout ratio is 29.82%.

Institutional Trading of CRH

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of CRH in the fourth quarter valued at $1,014,454,000. Putnam Investments LLC raised its position in CRH by 3,384.4% in the fourth quarter. Putnam Investments LLC now owns 6,781,697 shares of the construction company’s stock worth $469,022,000 after acquiring an additional 6,587,066 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in CRH by 35,497.5% in the 1st quarter. Lazard Asset Management LLC now owns 5,082,961 shares of the construction company’s stock valued at $438,455,000 after acquiring an additional 5,068,682 shares during the last quarter. Legal & General Group Plc boosted its position in shares of CRH by 36,503.4% during the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company’s stock valued at $361,278,000 after purchasing an additional 4,825,752 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in shares of CRH by 2,199.7% during the 1st quarter. TD Asset Management Inc now owns 3,342,432 shares of the construction company’s stock valued at $288,383,000 after purchasing an additional 3,197,092 shares in the last quarter. 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.