Vanguard Group Inc. Cuts Stake in Cushman & Wakefield PLC $CWK

Key Points

• Vanguard Group Inc. has reduced its holdings in Cushman & Wakefield PLC by 1.5%, selling 566,288 shares in the first quarter, resulting in ownership of approximately 36.4 million shares valued at $371.8 million.
• Institutional investors own about 95.56% of Cushman & Wakefield stock, with notable increases in positions by multiple firms like Sterling Capital Management, which boosted its stake by over 820% in the fourth quarter.
• Cushman & Wakefield reported better-than-expected earnings, with EPS of $0.30, surpassing consensus estimates, despite revenues of $1.65 billion being below expectations of $2.38 billion.

Vanguard Group Inc. reduced its holdings in Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,376,819 shares of the company's stock after selling 566,288 shares during the period. Vanguard Group Inc. owned approximately 15.73% of Cushman & Wakefield worth $371,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new position in Cushman & Wakefield during the first quarter worth about $338,000. XTX Topco Ltd grew its holdings in shares of Cushman & Wakefield by 351.9% in 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. grew its holdings in shares of Cushman & Wakefield by 1.6% in 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 grew its holdings in shares of Cushman & Wakefield by 2.7% in 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. Finally, Readystate Asset Management LP acquired a new position in shares of Cushman & Wakefield in the first quarter valued at approximately $2,095,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CWK has been the subject of several analyst reports. JMP Securities boosted their price target on shares of Cushman & Wakefield from $15.00 to $16.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of Cushman & Wakefield from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. The Goldman Sachs Group upgraded shares of Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 price target for the company in a report on Friday, August 8th. Morgan Stanley set a $14.50 price target on shares of Cushman & Wakefield and gave the stock an "overweight" rating in a report on Thursday, June 12th. Finally, Citizens Jmp began coverage on shares of Cushman & Wakefield in a report on Monday, July 21st. They set a "strong-buy" rating and a $15.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $14.38.

Cushman & Wakefield Stock Performance

CWK stock traded down $0.0760 on Thursday, hitting $14.8040. The company's stock had a trading volume of 2,074,184 shares, compared to its average volume of 2,597,108. The firm has a 50 day moving average of $12.14 and a two-hundred day moving average of $11.04. Cushman & Wakefield PLC has a 1 year low of $7.64 and a 1 year high of $16.11. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 16.82 and a beta of 1.50. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.48.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. Cushman & Wakefield had a net margin of 2.11% and a return on equity of 14.33%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $0.20 EPS. Cushman & Wakefield's revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts predict that Cushman & Wakefield PLC will post 1.2 EPS for the current fiscal year.

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.