TimesSquare Capital Management LLC increased its position in shares of CBRE Group Inc (NYSE:CBRE) by 15.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,846,700 shares of the financial services provider’s stock after buying an additional 518,900 shares during the period. CBRE Group accounts for approximately 1.5% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. TimesSquare Capital Management LLC owned approximately 1.14% of CBRE Group worth $197,336,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CBRE. Dimensional Fund Advisors LP increased its stake in shares of CBRE Group by 34.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,560,714 shares of the financial services provider’s stock worth $102,533,000 after purchasing an additional 653,165 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of CBRE Group by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 4,044,749 shares of the financial services provider’s stock worth $161,663,000 after purchasing an additional 232,271 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of CBRE Group by 51.0% during the 1st quarter. Raymond James Trust N.A. now owns 8,604 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 2,905 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of CBRE Group by 3.9% during the 1st quarter. Tributary Capital Management LLC now owns 26,800 shares of the financial services provider’s stock worth $1,325,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of CBRE Group by 12.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 91,160 shares of the financial services provider’s stock worth $4,508,000 after purchasing an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 93.28% of the company’s stock.
NYSE:CBRE traded up $1.15 during midday trading on Friday, reaching $51.61. The stock had a trading volume of 50,463 shares, compared to its average volume of 1,314,957. CBRE Group Inc has a 1-year low of $37.45 and a 1-year high of $56.47. The firm’s fifty day simple moving average is $52.45 and its 200-day simple moving average is $50.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.17 and a quick ratio of 1.16. The stock has a market capitalization of $17.78 billion, a P/E ratio of 15.70, a PEG ratio of 1.28 and a beta of 1.70.
CBRE Group (NYSE:CBRE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. CBRE Group had a net margin of 4.79% and a return on equity of 24.14%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period last year, the business posted $0.74 EPS. CBRE Group’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that CBRE Group Inc will post 3.75 earnings per share for the current fiscal year.
In other CBRE Group news, insider James R. Groch sold 50,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $55.13, for a total value of $2,756,500.00. Following the completion of the sale, the insider now directly owns 404,918 shares of the company’s stock, valued at approximately $22,323,129.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Curtis F. Feeny sold 4,514 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $47.30, for a total transaction of $213,512.20. Following the completion of the sale, the director now directly owns 4,228 shares of the company’s stock, valued at $199,984.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,514 shares of company stock valued at $4,970,012. Insiders own 0.74% of the company’s stock.
Several research analysts have recently commented on CBRE shares. Compass Point assumed coverage on shares of CBRE Group in a research note on Wednesday, July 10th. They set a “neutral” rating and a $54.00 price target on the stock. Raymond James raised their target price on shares of CBRE Group from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Friday, August 2nd. Finally, UBS Group raised their target price on shares of CBRE Group from $56.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $57.83.
CBRE Group Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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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