Entropy Technologies LP Reduces Stock Position in CBRE Group, Inc. $CBRE

Key Points

• Entropy Technologies LP cut its CBRE Group stake by 72.7% in the first quarter, selling 34,783 shares and retaining 13,089 shares valued at approximately $1.77 million.
• Institutional ownership remains substantial at 98.41%, with major investors including State Street, Principal Financial Group, Geode Capital Management, Harris Associates, and Morgan Stanley increasing their positions.
• CBRE reported strong quarterly results, with EPS of $1.61 beating estimates of $1.13 and revenue rising 18.1% year over year to $10.53 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $178.86.

Entropy Technologies LP cut its holdings in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 72.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,089 shares of the financial services provider's stock after selling 34,783 shares during the period. Entropy Technologies LP's holdings in CBRE Group were worth $1,773,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its position in CBRE Group by 0.8% in the third quarter. State Street Corp now owns 13,839,768 shares of the financial services provider's stock valued at $2,180,594,000 after acquiring an additional 105,586 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of CBRE Group by 3.2% during the first quarter. Principal Financial Group Inc. now owns 9,870,413 shares of the financial services provider's stock worth $1,337,051,000 after purchasing an additional 302,426 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CBRE Group by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 8,475,131 shares of the financial services provider's stock worth $1,369,409,000 after purchasing an additional 151,027 shares in the last quarter. Harris Associates L P lifted its holdings in shares of CBRE Group by 0.6% in the 4th quarter. Harris Associates L P now owns 6,928,621 shares of the financial services provider's stock valued at $1,114,053,000 after purchasing an additional 38,646 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of CBRE Group by 6.4% in the 4th quarter. Morgan Stanley now owns 6,691,017 shares of the financial services provider's stock valued at $1,075,849,000 after purchasing an additional 403,489 shares during the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Emma E. Giamartino sold 2,250 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $130.74, for a total transaction of $294,165.00. Following the sale, the chief financial officer owned 110,729 shares of the company's stock, valued at $14,476,709.46. The trade was a 1.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.46% of the company's stock.

CBRE Group Stock Performance

NYSE CBRE opened at $139.50 on Monday. The firm has a market cap of $40.85 billion, a P/E ratio of 31.78 and a beta of 1.20. CBRE Group, Inc. has a 52-week low of $121.69 and a 52-week high of $174.27. The business's 50-day moving average price is $134.36 and its 200 day moving average price is $143.85. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $1.61 EPS for the quarter, beating the consensus estimate of $1.13 by $0.48. CBRE Group had a return on equity of 24.08% and a net margin of 3.11%.The firm had revenue of $10.53 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same period in the prior year, the business earned $0.86 EPS. The firm's revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts expect that CBRE Group, Inc. will post 7.75 earnings per share for the current year.

Analysts Set New Price Targets

CBRE has been the topic of a number of research reports. Wall Street Zen upgraded CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. UBS Group reissued a "buy" rating on shares of CBRE Group in a report on Wednesday, June 17th. Evercore set a $169.00 target price on shares of CBRE Group in a research report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of CBRE Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.86.

CBRE Group Profile

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.

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