Suvretta Capital Management LLC Grows Position in CRH plc (NYSE:CRH)

Suvretta Capital Management LLC grew its position in shares of CRH plc (NYSE:CRH) by 24.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,894 shares of the construction company’s stock after purchasing an additional 106,910 shares during the quarter. CRH makes up about 1.6% of Suvretta Capital Management LLC’s portfolio, making the stock its 22nd biggest holding. Suvretta Capital Management LLC owned 0.08% of CRH worth $49,977,000 at the end of the most recent reporting period.

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

CRH Price Performance

CRH stock opened at $101.94 on Friday. CRH plc has a 1 year low of $61.51 and a 1 year 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 has a 50 day simple moving average of $95.18 and a 200-day simple moving average of $86.18.

CRH Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CRH. Barclays began coverage on CRH in a research note on Tuesday, October 29th. They set an “overweight” rating and a $110.00 target price for the company. 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 research report on Monday, November 11th. HSBC started coverage on shares of CRH in a research report on Monday, November 11th. They issued a “buy” rating and a $116.00 target price on the stock. Hsbc Global Res raised shares of CRH to a “strong-buy” rating in a research note on Monday, November 11th. Finally, StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. One 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. Based on data from MarketBeat.com, CRH has an average 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.