Wells Fargo & Company Cuts CRH (NYSE:CRH) Price Target to $133.00

CRH (NYSE:CRH) had its price objective decreased by Wells Fargo & Company from $135.00 to $133.00 in a research report sent to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the construction company’s stock.

Other analysts have also issued research reports about the stock. DA Davidson reiterated a “neutral” rating and set a $105.00 price objective (down previously from $120.00) on shares of CRH in a research note on Thursday, July 10th. Bank of America began coverage on shares of CRH in a research note on Friday, September 26th. They issued a “buy” rating and a $128.00 target price for the company. Barclays lifted their price target on shares of CRH from $110.00 to $131.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Vertical Research upgraded shares of CRH to a “strong-buy” rating in a report on Friday, August 1st. Finally, Jefferies Financial Group upgraded CRH to a “strong-buy” rating in a research note on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $127.43.

CRH Price Performance

Shares of CRH opened at $113.01 on Friday. CRH has a 12 month low of $76.75 and a 12 month high of $121.99. The stock’s 50-day moving average is $115.75 and its two-hundred day moving average is $103.85. The stock has a market cap of $76.02 billion, a PE ratio of 23.64, a P/E/G ratio of 1.68 and a beta of 1.32.

CRH (NYSE:CRH) last announced its earnings results on Wednesday, November 5th. The construction company reported $2.21 EPS for the quarter, beating the consensus estimate of $1.94 by $0.27. The business had revenue of $11.07 billion for the quarter, compared to the consensus estimate of $10.15 billion. CRH had a return on equity of 15.68% and a net margin of 9.09%.The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.97 EPS. CRH has set its FY 2025 guidance at 5.490-5.720 EPS. On average, research analysts anticipate that CRH will post 5.47 earnings per share for the current year.

CRH Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, November 21st. This represents a $1.48 annualized dividend and a yield of 1.3%. CRH’s dividend payout ratio is presently 22.11%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new position in CRH during the second quarter worth $27,000. Park Place Capital Corp raised its holdings in shares of CRH by 59.9% during the second quarter. Park Place Capital Corp now owns 307 shares of the construction company’s stock worth $29,000 after purchasing an additional 115 shares during the period. United Community Bank lifted its position in shares of CRH by 359.6% in the 3rd quarter. United Community Bank now owns 239 shares of the construction company’s stock worth $29,000 after buying an additional 187 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its position in shares of CRH by 1,835.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock worth $30,000 after buying an additional 312 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of CRH by 139.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 268 shares of the construction company’s stock valued at $31,000 after buying an additional 156 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.