CRH plc (NYSE:CRH) Shares Acquired by Suvretta Capital Management LLC

Suvretta Capital Management LLC boosted its holdings in CRH plc (NYSE:CRH) by 24.7% during the third quarter, HoldingsChannel reports. The fund owned 538,894 shares of the construction company’s stock after buying an additional 106,910 shares during the period. CRH comprises 1.6% of Suvretta Capital Management LLC’s holdings, making the stock its 22nd biggest position. Suvretta Capital Management LLC’s holdings in CRH were worth $49,977,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. lifted its stake in shares of CRH by 29.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,361 shares of the construction company’s stock valued at $807,000 after purchasing an additional 2,115 shares during the last quarter. Atria Investments Inc lifted its position in CRH by 161.7% in the first quarter. Atria Investments Inc now owns 56,665 shares of the construction company’s stock valued at $4,888,000 after buying an additional 35,009 shares during the last quarter. Cetera Investment Advisers lifted its position in CRH by 286.4% in the first quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company’s stock valued at $4,671,000 after buying an additional 40,135 shares during the last quarter. Cetera Advisors LLC purchased a new position in CRH during the first quarter worth about $1,277,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of CRH by 10,886.6% during the first quarter. EverSource Wealth Advisors LLC now owns 86,025 shares of the construction company’s stock valued at $7,421,000 after acquiring an additional 85,242 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

CRH Price Performance

NYSE:CRH opened at $101.94 on Friday. CRH plc has a 12 month low of $61.51 and a 12 month high of $104.19. The firm has a market capitalization of $69.24 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.29. The business’s fifty day moving average price is $95.18 and its 200 day moving average price is $86.18.

CRH Cuts Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.262 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 1.4%. CRH’s dividend payout ratio is currently 37.20%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of CRH from $95.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. StockNews.com upgraded CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. DA Davidson lifted their price objective on CRH from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barclays began coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $106.42.

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.