Vestcor Inc Cuts Stake in Cushman & Wakefield PLC (NYSE:CWK)

Key Points

• Vestcor Inc significantly reduced its holdings in Cushman & Wakefield PLC by 79.4% during the 1st quarter, now owning 14,521 shares valued at $148,000.
• Cushman & Wakefield's stock price increased by $1.05 to reach $13.37, with a market cap of $3.09 billion and a PE ratio of 19.38.
• Analysts have mixed views on the stock, with an average rating of "Hold" and a consensus price target of $13.50.

Vestcor Inc cut its holdings in shares of Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 79.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,521 shares of the company's stock after selling 56,008 shares during the period. Vestcor Inc's holdings in Cushman & Wakefield were worth $148,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. XTX Topco Ltd boosted its position in shares of Cushman & Wakefield by 351.9% during the first quarter. XTX Topco Ltd now owns 70,785 shares of the company's stock valued at $723,000 after purchasing an additional 55,121 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Cushman & Wakefield by 1.6% during the first quarter. Federated Hermes Inc. now owns 393,549 shares of the company's stock valued at $4,022,000 after purchasing an additional 6,256 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its position in shares of Cushman & Wakefield by 2.7% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 78,751 shares of the company's stock valued at $805,000 after purchasing an additional 2,070 shares in the last quarter. Readystate Asset Management LP bought a new stake in Cushman & Wakefield in the first quarter worth $2,095,000. Finally, Homestead Advisers Corp boosted its holdings in Cushman & Wakefield by 75.1% in the first quarter. Homestead Advisers Corp now owns 319,800 shares of the company's stock worth $3,268,000 after acquiring an additional 137,200 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Cushman & Wakefield Stock Performance

Cushman & Wakefield stock traded up $0.30 during mid-day trading on Wednesday, reaching $13.69. 3,934,420 shares of the stock traded hands, compared to its average volume of 2,073,762. The stock has a market capitalization of $3.17 billion, a PE ratio of 19.84 and a beta of 1.50. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.18 and a quick ratio of 1.18. Cushman & Wakefield PLC has a 12-month low of $7.64 and a 12-month high of $16.11. The business's 50-day moving average is $11.15 and its 200-day moving average is $10.95.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. The company had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $2.38 billion. Cushman & Wakefield had a return on equity of 13.50% and a net margin of 1.70%. Cushman & Wakefield's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts predict that Cushman & Wakefield PLC will post 1.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on CWK. Citizens Jmp began coverage on Cushman & Wakefield in a report on Monday, July 21st. They issued a "strong-buy" rating and a $15.00 target price on the stock. Morgan Stanley set a $14.50 target price on Cushman & Wakefield and gave the stock an "overweight" rating in a report on Thursday, June 12th. Wall Street Zen downgraded Cushman & Wakefield from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 20th. JMP Securities boosted their target price on Cushman & Wakefield from $15.00 to $16.00 and gave the stock a "market outperform" rating in a report on Wednesday. Finally, UBS Group boosted their price target on Cushman & Wakefield from $9.00 to $12.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cushman & Wakefield presently has an average rating of "Hold" and a consensus target price of $13.63.

About Cushman & Wakefield

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.