Cushman & Wakefield PLC $CWK Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Cushman & Wakefield stake by 13.2% in the first quarter, bringing its holdings to 2.13 million shares valued at approximately $26.1 million. Institutional investors collectively own 95.56% of the company.
• Cushman & Wakefield reported quarterly revenue of $2.76 billion and earnings of $0.35 per share, while analysts expect full-year EPS of $1.44.
• Analyst sentiment is cautiously positive, with a consensus “Moderate Buy” rating and a $17.75 target price versus the stock’s recent $14.35 opening price; price targets range from $15 at UBS to $17 at Goldman Sachs.

Bank of America Corp DE boosted its position in shares of Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,126,440 shares of the company's stock after purchasing an additional 247,475 shares during the quarter. Bank of America Corp DE owned approximately 0.91% of Cushman & Wakefield worth $26,070,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Cushman & Wakefield by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,248,848 shares of the company's stock valued at $162,424,000 after buying an additional 397,892 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Cushman & Wakefield by 62,083.6% in the fourth quarter. Bessemer Group Inc. now owns 871,814 shares of the company's stock worth $14,115,000 after acquiring an additional 870,412 shares during the last quarter. Sei Investments Co. lifted its position in shares of Cushman & Wakefield by 17.8% in the first quarter. Sei Investments Co. now owns 1,137,910 shares of the company's stock valued at $13,951,000 after acquiring an additional 171,956 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Cushman & Wakefield in the first quarter valued at $6,672,000. Finally, Quantinno Capital Management LP lifted its position in shares of Cushman & Wakefield by 176.7% in the first quarter. Quantinno Capital Management LP now owns 224,092 shares of the company's stock valued at $2,747,000 after acquiring an additional 143,092 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Cushman & Wakefield Trading Down 0.4%

Shares of CWK stock opened at $14.35 on Monday. The firm's 50-day simple moving average is $13.45 and its 200-day simple moving average is $13.46. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.08 and a quick ratio of 1.08. Cushman & Wakefield PLC has a 1-year low of $11.56 and a 1-year high of $17.40. The firm has a market cap of $3.37 billion, a P/E ratio of 49.47 and a beta of 1.43.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.35 earnings per share for the quarter. Cushman & Wakefield had a net margin of 0.64% and a return on equity of 15.90%. The company had revenue of $2.76 billion for the quarter. As a group, equities analysts forecast that Cushman & Wakefield PLC will post 1.44 EPS for the current year.

Insiders Place Their Bets

In other Cushman & Wakefield news, insider Nathaniel Robinson sold 24,828 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $13.25, for a total transaction of $328,971.00. Following the completion of the sale, the insider owned 70,876 shares of the company's stock, valued at approximately $939,107. The trade was a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CWK. Weiss Ratings raised shares of Cushman & Wakefield from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. UBS Group cut their price objective on shares of Cushman & Wakefield from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. Finally, The Goldman Sachs Group set a $17.00 price objective on shares of Cushman & Wakefield and gave the company a "buy" rating in a research note on Friday, May 22nd. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Cushman & Wakefield presently has an average rating of "Moderate Buy" and a consensus target price of $17.75.

Cushman & Wakefield Company Profile

Cushman & Wakefield is a leading global commercial real estate services firm headquartered in Chicago. The company provides a wide range of services to occupiers and investors, specializing in transaction management, property management, facilities management and project management. Its clientele spans corporate occupiers, landlords, investors and government entities seeking solutions to optimize their real estate portfolios and operations.

The firm's core offerings include leasing advisory for office, industrial, retail and multifamily properties, as well as capital markets advice on acquisitions, dispositions and debt and equity placements.

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