Maverick Capital Ltd. purchased a new stake in shares of CRH plc (NYSE:CRH - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,798 shares of the construction company's stock, valued at approximately $1,372,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Europe London LLP boosted its stake in CRH by 7.4% in the 3rd quarter. Point72 Europe London LLP now owns 519,718 shares of the construction company's stock worth $48,199,000 after purchasing an additional 35,863 shares during the period. Fred Alger Management LLC purchased a new stake in CRH in the 3rd quarter worth $610,000. Captrust Financial Advisors boosted its holdings in shares of CRH by 15.9% during the 3rd quarter. Captrust Financial Advisors now owns 7,958 shares of the construction company's stock valued at $738,000 after purchasing an additional 1,091 shares during the last quarter. Martingale Asset Management L P purchased a new position in shares of CRH during the third quarter valued at about $1,224,000. Finally, Suvretta Capital Management LLC increased its holdings in shares of CRH by 24.7% in the third quarter. Suvretta Capital Management LLC now owns 538,894 shares of the construction company's stock worth $49,977,000 after purchasing an additional 106,910 shares during the last quarter. Hedge funds and other institutional investors own 62.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on CRH shares. DA Davidson upped their price objective on CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Barclays initiated coverage on shares of CRH in a research report on Tuesday, October 29th. They set an "overweight" rating and a $110.00 price objective for the company. Hsbc Global Res upgraded shares of CRH to a "strong-buy" rating in a report on Monday, November 11th. Morgan Stanley boosted their price objective on CRH from $95.00 to $104.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their target price on CRH from $114.00 to $116.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $106.42.
Check Out Our Latest Research Report on CRH
CRH Trading Up 0.3 %
Shares of CRH traded up $0.33 during midday trading on Friday, reaching $102.27. 2,656,397 shares of the stock were exchanged, compared to its average volume of 4,080,760. CRH plc has a 52 week low of $62.45 and a 52 week high of $104.19. The company's 50 day moving average is $95.37 and its two-hundred day moving average is $86.35. The company has a market capitalization of $69.46 billion, a P/E ratio of 20.45, a PEG ratio of 1.29 and a beta of 1.29.
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 paid 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 presently 37.20%.
CRH Profile
(
Free Report)
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.
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