Royal Bank of Canada Cuts CRH (NYSE:CRH) Price Target to $108.00

CRH (NYSE:CRH) had its price target decreased by Royal Bank of Canada from $127.00 to $108.00 in a research report sent to investors on Monday, MarketBeat reports. Royal Bank of Canada currently has an outperform rating on the construction company’s stock.

Several other equities research analysts also recently weighed in on CRH. Berenberg Bank set a $120.00 price target on CRH in a report on Friday, February 28th. Loop Capital began coverage on shares of CRH in a research note on Wednesday, April 9th. They issued a “buy” rating and a $114.00 target price for the company. StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Citigroup decreased their price target on shares of CRH from $120.00 to $115.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CRH from $118.00 to $114.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $112.36.

CRH Trading Down 0.9 %

Shares of CRH stock opened at $85.15 on Monday. CRH has a 12-month low of $71.18 and a 12-month high of $110.97. The business’s fifty day simple moving average is $95.34 and its 200-day simple moving average is $96.07. The company has a market cap of $57.59 billion, a PE ratio of 17.03, a PEG ratio of 1.15 and a beta of 1.30.

CRH Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Friday, March 14th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from CRH’s previous quarterly dividend of $0.23. CRH’s dividend payout ratio (DPR) is presently 22.66%.

Institutional Trading of CRH

A number of hedge funds have recently modified their holdings of CRH. FMR LLC lifted its holdings in CRH by 13.0% in the fourth quarter. FMR LLC now owns 40,843,362 shares of the construction company’s stock valued at $3,781,004,000 after acquiring an additional 4,687,345 shares during the period. Vanguard Group Inc. increased its holdings in shares of CRH by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 39,163,930 shares of the construction company’s stock valued at $3,624,719,000 after purchasing an additional 145,101 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of CRH by 17.0% in the 4th quarter. Franklin Resources Inc. now owns 16,788,918 shares of the construction company’s stock valued at $1,553,194,000 after purchasing an additional 2,437,868 shares during the period. Norges Bank purchased a new stake in CRH during the fourth quarter worth $1,391,245,000. Finally, Bank of New York Mellon Corp grew its position in CRH by 10.6% during the fourth quarter. Bank of New York Mellon Corp now owns 8,609,451 shares of the construction company’s stock valued at $796,546,000 after buying an additional 826,758 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

CRH Company Profile

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.