Channing Capital Management LLC Acquires 649,705 Shares of Cushman & Wakefield PLC $CWK

Key Points

• Channing Capital Management LLC has increased its stake in Cushman & Wakefield PLC by 13.8%, now owning over 5.3 million shares valued at approximately $54.9 million.
• Institutional investors collectively own 95.56% of the company's stock, reflecting strong interest from major financial players.
• Cushman & Wakefield's recent earnings report showed an EPS of $0.30, surpassing analysts' estimates, with a revenue of $1.65 billion, which was below expectations.

Channing Capital Management LLC lifted its holdings in Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 13.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,369,263 shares of the company's stock after purchasing an additional 649,705 shares during the period. Channing Capital Management LLC owned about 2.32% of Cushman & Wakefield worth $54,874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. grew its position in Cushman & Wakefield by 4.3% in the first quarter. Raymond James Financial Inc. now owns 2,070,020 shares of the company's stock worth $21,155,000 after buying an additional 84,998 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Cushman & Wakefield by 22.3% during the 1st quarter. American Century Companies Inc. now owns 434,239 shares of the company's stock worth $4,438,000 after acquiring an additional 79,055 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cushman & Wakefield by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,064,891 shares of the company's stock worth $123,300,000 after acquiring an additional 478,484 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of Cushman & Wakefield by 28.9% during the first quarter. Lord Abbett & CO. LLC now owns 791,249 shares of the company's stock worth $8,087,000 after purchasing an additional 177,424 shares during the period. Finally, Boston Partners lifted its holdings in shares of Cushman & Wakefield by 84.2% during the first quarter. Boston Partners now owns 87,020 shares of the company's stock valued at $889,000 after purchasing an additional 39,779 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cushman & Wakefield Stock Up 5.4%

CWK traded up $0.7930 on Friday, reaching $15.6130. 2,480,025 shares of the company traded hands, compared to its average volume of 2,625,541. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 17.74 and a beta of 1.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 1.13. The stock's 50 day moving average price is $12.25 and its 200-day moving average price is $11.03. Cushman & Wakefield PLC has a 52-week low of $7.64 and a 52-week high of $16.11.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. Cushman & Wakefield had a net margin of 2.11% and a return on equity of 14.33%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the business posted $0.20 EPS. The company's revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that Cushman & Wakefield PLC will post 1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CWK has been the subject of a number of recent analyst reports. JMP Securities increased their price target on Cushman & Wakefield from $15.00 to $16.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Morgan Stanley set a $14.50 target price on shares of Cushman & Wakefield and gave the stock an "overweight" rating in a research report on Thursday, June 12th. The Goldman Sachs Group upgraded shares of Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 price target for the company in a research report on Friday, August 8th. UBS Group lifted their price objective on shares of Cushman & Wakefield from $9.00 to $12.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Citizens Jmp initiated coverage on shares of Cushman & Wakefield in a research note on Monday, July 21st. They set a "strong-buy" rating and a $15.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.38.

Cushman & Wakefield Company Profile

Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.