Harris Associates L P Cuts Position in CBRE Group, Inc. $CBRE

Key Points

• Harris Associates L P has reduced its stake in CBRE Group, Inc. by 10.1%, now owning approximately 9.7 million shares, after selling about 1.1 million shares in Q1.
• Institutional investors currently hold 98.41% of CBRE shares, with notable increases from firms like Massachusetts Financial Services Co. and GAMMA Investing LLC in the first quarter of the year.
• CBRE Group recently reported an earnings per share (EPS) of $1.19, exceeding analysts' expectations, and has a consensus rating of "Moderate Buy" with a target price of around $165.22.

Harris Associates L P cut its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,685,347 shares of the financial services provider's stock after selling 1,092,239 shares during the quarter. CBRE Group comprises about 2.1% of Harris Associates L P's portfolio, making the stock its 14th biggest position. Harris Associates L P owned approximately 3.25% of CBRE Group worth $1,266,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. WPG Advisers LLC acquired a new stake in shares of CBRE Group in the 1st quarter worth $26,000. Investment Management Corp VA ADV acquired a new stake in shares of CBRE Group in the 4th quarter worth $28,000. Hughes Financial Services LLC acquired a new stake in shares of CBRE Group in the 1st quarter worth $28,000. Golden State Wealth Management LLC boosted its position in shares of CBRE Group by 687.1% in the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider's stock worth $32,000 after purchasing an additional 213 shares in the last quarter. Finally, Colonial Trust Co SC boosted its position in shares of CBRE Group by 183.7% in the 4th quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider's stock worth $36,000 after purchasing an additional 180 shares in the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

CBRE Group Stock Performance

Shares of CBRE stock traded up $2.68 on Friday, hitting $164.37. The company had a trading volume of 1,285,140 shares, compared to its average volume of 1,436,419. The firm has a market cap of $48.91 billion, a P/E ratio of 46.04 and a beta of 1.36. The company has a 50-day moving average price of $151.81 and a 200-day moving average price of $136.30. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. CBRE Group, Inc. has a twelve month low of $108.45 and a twelve month high of $165.41.

CBRE Group (NYSE:CBRE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. The business had revenue of $9.75 billion during the quarter, compared to analysts' expectations of $9.50 billion. CBRE Group had a return on equity of 18.89% and a net margin of 2.86%. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. As a group, equities research analysts predict that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Lindsey S. Caplan sold 1,935 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $140.00, for a total value of $270,900.00. Following the completion of the transaction, the chief accounting officer owned 20,131 shares of the company's stock, valued at $2,818,340. The trade was a 8.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vikramaditya Kohli sold 1,000 shares of CBRE Group stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $154.90, for a total value of $154,900.00. Following the completion of the transaction, the chief executive officer owned 111,473 shares of the company's stock, valued at approximately $17,267,167.70. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,926 shares of company stock valued at $1,338,073 in the last quarter. 0.42% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CBRE. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price objective on CBRE Group from $143.00 to $185.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Keefe, Bruyette & Woods lifted their price target on CBRE Group from $131.00 to $147.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price target (up previously from $160.00) on shares of CBRE Group in a research report on Thursday, June 12th. Finally, UBS Group lifted their price target on CBRE Group from $130.00 to $146.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.22.

CBRE Group Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.