Verition Fund Management LLC Has $25.57 Million Stock Position in CRH plc (NYSE:CRH)

Verition Fund Management LLC trimmed its position in shares of CRH plc (NYSE:CRH) by 12.2% during the 3rd quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Deseret Mutual Benefit Administrators acquired a new stake in CRH during the 3rd quarter valued at $25,000. UMB Bank n.a. raised its holdings in shares of CRH by 72.7% in the third 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 last quarter. GHP Investment Advisors Inc. grew its holdings in CRH by 336.4% during the 2nd quarter. GHP Investment Advisors Inc. now owns 336 shares of the construction company’s stock worth $25,000 after acquiring an additional 259 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in CRH in the 3rd quarter valued at about $35,000. Finally, Baillie Gifford & Co. raised its stake in shares of CRH by 70.7% in the third quarter. Baillie Gifford & Co. now owns 391 shares of the construction company’s stock worth $36,000 after acquiring an additional 162 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CRH shares. DA Davidson boosted their price objective on shares of CRH from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Barclays began coverage on CRH in a report on Tuesday, October 29th. They set an “overweight” rating and a $110.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of CRH from $114.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Hsbc Global Res upgraded shares of CRH to a “strong-buy” rating in a report on Monday, November 11th. Finally, StockNews.com raised shares of CRH from a “hold” rating to a “buy” rating in a report on Monday, November 11th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $106.42.

CRH Stock Down 0.9 %

Shares of CRH stock opened at $101.94 on Friday. CRH plc has a 12-month low of $61.51 and a 12-month high of $104.19. The firm has a fifty day moving average of $95.18 and a 200-day moving average of $86.18. The firm has a market capitalization of $69.24 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.29.

CRH Cuts Dividend

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