Verition Fund Management LLC Reduces Stake in CRH plc (NYSE:CRH)

Verition Fund Management LLC decreased its position in shares of CRH plc (NYSE:CRH - Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,749 shares of the construction company's stock after selling 38,403 shares during the quarter. Verition Fund Management LLC's holdings in CRH were worth $25,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CRH. FMR LLC lifted its position in CRH by 33.4% in the 3rd quarter. FMR LLC now owns 36,156,017 shares of the construction company's stock valued at $3,341,258,000 after acquiring an additional 9,055,354 shares in the last quarter. Greenhaven Associates Inc. grew its holdings in CRH by 0.3% during the third quarter. Greenhaven Associates Inc. now owns 11,155,273 shares of the construction company's stock worth $1,034,540,000 after buying an additional 35,209 shares in the last quarter. Bank of New York Mellon Corp raised its position in CRH by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,618,144 shares of the construction company's stock valued at $646,188,000 after buying an additional 431,172 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in CRH by 515.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,103,194 shares of the construction company's stock valued at $473,270,000 after acquiring an additional 4,274,336 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in CRH by 36,503.4% during the 2nd quarter. Legal & General Group Plc now owns 4,838,972 shares of the construction company's stock worth $361,278,000 after acquiring an additional 4,825,752 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on CRH. StockNews.com upgraded shares of CRH from a "hold" rating to a "buy" rating in a report on Monday, November 11th. HSBC started coverage on shares of CRH in a research note on Monday, November 11th. They issued a "buy" rating and a $116.00 price objective for the company. DA Davidson boosted their target price on CRH from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Truist Financial increased 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. Finally, Barclays initiated coverage on CRH in a research report on Tuesday, October 29th. They issued an "overweight" rating and a $110.00 price objective on the stock. 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 company. According to MarketBeat, CRH presently has an average rating of "Buy" and a consensus target price of $106.42.

CRH Stock Up 0.3 %

CRH stock traded up $0.33 during midday trading on Friday, reaching $102.27. The stock had a trading volume of 2,656,397 shares, compared to its average volume of 4,841,636. The firm has a market capitalization of $69.46 billion, a PE ratio of 20.45, a P/E/G ratio of 1.29 and a beta of 1.29. CRH plc has a 12 month low of $62.45 and a 12 month high of $104.19. The firm's 50-day moving average price is $95.37 and its 200 day moving average price is $86.35.

CRH Cuts Dividend

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

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.