CAPROCK Group Inc. cut its position in CBRE Group, Inc. (NYSE:CBRE – Get Rating) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,422 shares of the financial services provider’s stock after selling 744 shares during the quarter. CAPROCK Group Inc.’s holdings in CBRE Group were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in shares of CBRE Group by 6.0% in the fourth quarter. State Street Corp now owns 14,871,950 shares of the financial services provider’s stock valued at $1,613,755,000 after buying an additional 846,053 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CBRE Group by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,029,959 shares of the financial services provider’s stock valued at $761,295,000 after buying an additional 88,304 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of CBRE Group in the fourth quarter valued at $426,873,000. Findlay Park Partners LLP grew its stake in shares of CBRE Group by 9.8% in the fourth quarter. Findlay Park Partners LLP now owns 3,829,692 shares of the financial services provider’s stock valued at $415,560,000 after buying an additional 340,380 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of CBRE Group in the fourth quarter valued at $347,784,000. 96.30% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on CBRE. Raymond James lowered their target price on CBRE Group from $126.00 to $111.00 and set an “outperform” rating for the company in a research note on Tuesday, April 26th. Evercore ISI set a $94.00 target price on CBRE Group in a research note on Monday. Wolfe Research lowered their target price on CBRE Group from $171.00 to $116.00 and set an “outperform” rating for the company in a research note on Thursday, March 10th. The Goldman Sachs Group began coverage on CBRE Group in a research note on Tuesday, April 5th. They set a “buy” rating and a $111.00 target price for the company. Finally, StockNews.com cut CBRE Group from a “buy” rating to a “hold” rating in a research note on Friday, June 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and a consensus price target of $109.40.
Shares of NYSE CBRE opened at $71.77 on Friday. The company has a market capitalization of $23.46 billion, a price-to-earnings ratio of 12.42 and a beta of 1.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50-day moving average of $79.63 and a two-hundred day moving average of $91.59. CBRE Group, Inc. has a 1 year low of $67.68 and a 1 year high of $111.00.
CBRE Group (NYSE:CBRE – Get Rating) last posted its earnings results on Thursday, May 5th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.29. CBRE Group had a return on equity of 25.00% and a net margin of 6.74%. The business had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.55 billion. During the same period in the previous year, the business earned $0.86 EPS. The business’s quarterly revenue was up 23.5% on a year-over-year basis. As a group, equities research analysts expect that CBRE Group, Inc. will post 6.31 earnings per share for the current year.
About CBRE Group (Get Rating)
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, accounting, and financial services for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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