Suvretta Capital Management LLC Has $49.98 Million Stock Position in CRH plc (NYSE:CRH)

Suvretta Capital Management LLC raised its stake in CRH plc (NYSE:CRH - Free Report) by 24.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 538,894 shares of the construction company's stock after purchasing an additional 106,910 shares during the period. CRH makes up approximately 1.6% of Suvretta Capital Management LLC's holdings, making the stock its 22nd biggest position. Suvretta Capital Management LLC owned 0.08% of CRH worth $49,977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRH. Grove Bank & Trust increased its position in shares of CRH by 9.5% during the third quarter. Grove Bank & Trust now owns 1,419 shares of the construction company's stock valued at $132,000 after purchasing an additional 123 shares during the period. UMB Bank n.a. increased its holdings in CRH by 72.7% in the 3rd quarter. UMB Bank n.a. now owns 297 shares of the construction company's stock valued at $28,000 after buying an additional 125 shares during the period. CVA Family Office LLC raised its stake in shares of CRH by 2.1% in the 3rd quarter. CVA Family Office LLC now owns 6,116 shares of the construction company's stock valued at $567,000 after buying an additional 128 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of CRH by 2.9% during the 3rd quarter. Lindbrook Capital LLC now owns 4,815 shares of the construction company's stock worth $447,000 after acquiring an additional 135 shares during the period. Finally, Baillie Gifford & Co. boosted its position in shares of CRH by 70.7% during the 3rd quarter. Baillie Gifford & Co. now owns 391 shares of the construction company's stock valued at $36,000 after acquiring an additional 162 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CRH shares. Hsbc Global Res upgraded shares of CRH to a "strong-buy" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their target price on CRH from $114.00 to $116.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 20th. Truist Financial upped their price target on CRH from $110.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, November 8th. HSBC started coverage on CRH in a research note on Monday, November 11th. They set a "buy" rating and a $116.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of CRH from $95.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $106.42.

CRH Stock Performance

Shares of NYSE CRH traded up $0.44 during trading on Friday, reaching $102.38. The company had a trading volume of 2,656,390 shares, compared to its average volume of 4,841,636. CRH plc has a 52 week low of $62.45 and a 52 week high of $104.19. The business's 50 day moving average price is $95.37 and its 200-day moving average price is $86.32. The stock has a market cap of $69.54 billion, a PE ratio of 20.48, a PEG ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

The business also recently disclosed a Variable dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 22nd will be given a $0.262 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 22nd. CRH's dividend payout ratio (DPR) is presently 37.20%.

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.