Edgestream Partners L.P. Trims Position in Cushman & Wakefield PLC $CWK

Key Points

• Edgestream Partners cut its Cushman & Wakefield stake by 64.6% in the first quarter, selling 362,986 shares and retaining 198,553 shares valued at approximately $2.43 million.
• Cushman & Wakefield reported first-quarter EPS of $0.15, beating estimates by $0.02, while revenue rose 11% year over year to $2.54 billion. Analysts expect full-year EPS of $1.45.
• The stock opened at $13.44, compared with a consensus analyst target of $18.00 and a “Moderate Buy” rating; institutional investors collectively own 95.56% of the company.

Edgestream Partners L.P. trimmed its position in shares of Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 64.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,553 shares of the company's stock after selling 362,986 shares during the period. Edgestream Partners L.P. owned 0.08% of Cushman & Wakefield worth $2,434,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC boosted its holdings in Cushman & Wakefield by 7.4% in the 4th quarter. Cerity Partners LLC now owns 12,572 shares of the company's stock worth $204,000 after buying an additional 865 shares during the period. Cetera Investment Advisers raised its holdings in Cushman & Wakefield by 1.8% during the first quarter. Cetera Investment Advisers now owns 49,108 shares of the company's stock valued at $602,000 after acquiring an additional 876 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Cushman & Wakefield by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 53,029 shares of the company's stock valued at $859,000 after acquiring an additional 900 shares in the last quarter. First Horizon Corp lifted its position in shares of Cushman & Wakefield by 52.0% in the fourth quarter. First Horizon Corp now owns 3,040 shares of the company's stock valued at $49,000 after acquiring an additional 1,040 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its stake in shares of Cushman & Wakefield by 9.3% in the fourth quarter. Sanctuary Advisors LLC now owns 12,477 shares of the company's stock worth $202,000 after acquiring an additional 1,061 shares during the period. Hedge funds and other institutional investors own 95.56% of the company's stock.

Cushman & Wakefield Stock Performance

Shares of NYSE CWK opened at $13.44 on Monday. The company has a market cap of $3.15 billion, a P/E ratio of 41.99 and a beta of 1.43. Cushman & Wakefield PLC has a 52-week low of $11.56 and a 52-week high of $17.40. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.13. The firm's fifty day moving average is $13.26 and its two-hundred day moving average is $13.66.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. Cushman & Wakefield had a net margin of 0.70% and a return on equity of 15.41%. The business's revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. As a group, analysts anticipate that Cushman & Wakefield PLC will post 1.45 EPS for the current fiscal year.

Insider Activity at Cushman & Wakefield

In related 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 value of $328,971.00. Following the sale, the insider directly owned 70,876 shares in the company, valued at approximately $939,107. The trade was a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CWK. The Goldman Sachs Group set a $17.00 target price on Cushman & Wakefield and gave the stock a "buy" rating in a research report on Friday, May 22nd. Weiss Ratings upgraded Cushman & Wakefield from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, June 26th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Cushman & Wakefield currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Cushman & Wakefield 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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