London Co. of Virginia Has $134.84 Million Stake in CBRE Group, Inc. $CBRE

Key Points

• London Co. of Virginia cut its CBRE stake by 9.2% in the first quarter, selling 100,786 shares and ending with 995,446 shares valued at about $134.84 million.
• CBRE posted strong quarterly results, beating analyst estimates with EPS of $1.61 versus $1.13 expected and revenue of $10.53 billion, up 18.1% year over year.
• Wall Street remains mostly bullish on CBRE, with eight Buy ratings and one Hold, and a consensus price target of $178.86 even after some mixed analyst updates.

London Co. of Virginia reduced its position in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 9.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 995,446 shares of the financial services provider's stock after selling 100,786 shares during the period. London Co. of Virginia owned 0.34% of CBRE Group worth $134,844,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CBRE. Swiss RE Ltd. bought a new stake in CBRE Group during the 4th quarter worth about $25,000. Navalign LLC bought a new position in shares of CBRE Group in the 4th quarter valued at about $29,000. Ascentis Independent Advisors bought a new position in shares of CBRE Group in the 1st quarter valued at about $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of CBRE Group during the 1st quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of CBRE Group during the 4th quarter worth approximately $42,000. Institutional investors own 98.41% of the company's stock.

Insider Activity

In other news, CFO Emma E. Giamartino sold 2,250 shares of the company's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $130.74, for a total transaction of $294,165.00. Following the completion of the transaction, the chief financial officer directly owned 110,729 shares of the company's stock, valued at $14,476,709.46. This represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.46% of the stock is owned by corporate insiders.

CBRE Group Price Performance

CBRE opened at $139.50 on Friday. 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, Inc. has a 12 month low of $121.69 and a 12 month high of $174.27. The company has a fifty day simple moving average of $134.36 and a 200 day simple moving average of $143.99. The stock has a market cap of $40.85 billion, a P/E ratio of 31.78 and a beta of 1.20.

CBRE Group (NYSE:CBRE - Get Free Report) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $1.61 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The company's revenue for the quarter was up 18.1% on a year-over-year basis. On average, research analysts expect that CBRE Group, Inc. will post 7.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CBRE shares. Evercore set a $169.00 price objective on shares of CBRE Group in a report on Tuesday, June 30th. Weiss Ratings lowered shares of CBRE Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. UBS Group reiterated a "buy" rating on shares of CBRE Group in a research report on Wednesday, June 17th. Wall Street Zen raised CBRE Group from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Jefferies Financial Group restated a "buy" rating on shares of CBRE Group in a research report on Friday, May 15th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, CBRE Group has a consensus rating of "Moderate Buy" and a consensus target price of $178.86.

CBRE Group Company 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.

Want to see what other hedge funds are holding CBRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBRE Group, Inc. (NYSE:CBRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.