Verition Fund Management LLC Sells 38,403 Shares of CRH plc (NYSE:CRH)

Verition Fund Management LLC lessened its holdings in CRH plc (NYSE:CRH) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 275,749 shares of the construction company’s stock after selling 38,403 shares during the period. Verition Fund Management LLC’s holdings in CRH were worth $25,573,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cetera Advisors LLC bought a new position in shares of CRH in the 1st quarter valued at approximately $1,277,000. LGT Group Foundation raised its position in shares of CRH by 8,189.3% in the second quarter. LGT Group Foundation now owns 1,599,827 shares of the construction company’s stock valued at $119,955,000 after purchasing an additional 1,580,527 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of CRH by 35.7% in the second quarter. Assenagon Asset Management S.A. now owns 4,238,173 shares of the construction company’s stock worth $317,778,000 after buying an additional 1,114,177 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of CRH by 286.4% during the 1st quarter. Cetera Investment Advisers now owns 54,148 shares of the construction company’s stock worth $4,671,000 after buying an additional 40,135 shares during the period. Finally, M&G Plc bought a new position in CRH in the 2nd quarter worth $2,745,000. 62.50% of the stock is currently owned by institutional investors.

CRH Stock Down 0.9 %

NYSE CRH opened at $101.94 on Friday. CRH plc has a twelve month low of $61.51 and a twelve month high of $104.19. The stock has a market cap of $69.24 billion, a P/E ratio of 20.39, a PEG ratio of 1.29 and a beta of 1.29. The company’s 50-day simple moving average is $95.18 and its 200 day simple moving average is $86.18.

CRH Cuts Dividend

The business 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 $0.262 dividend. 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 Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of CRH from $95.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. StockNews.com raised CRH from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Hsbc Global Res raised CRH to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Truist Financial boosted their target price on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. One investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $106.42.

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.