Harris Associates LP recently announced the acquisition of new stake in CBRE Group Inc. (NYSE:CBRE). The institutional investor has increased its shareholding in the Real Estate company by 11.22% to 13.66 million shares with purchase of 1.38 million shares. This fresh investment now brings its stake to 4.32% valued currently at $1.16 billion. In addition, Geode Capital Management LLC raised its holdings by 34736.0 to 7.04 million shares. And Allspring Global Investments LLC has lifted its position by 17.39% or 0.84 million shares – to 5.65 million shares.
With over 2.32 million CBRE Group Inc. (CBRE) shares trading Tuesday and a closing price of $75.77 on the day, the dollar volume was approximately $175.95 million. The shares have shown a negative half year performance of -7.24% and its price on 03/14/23 gained nearly 0.53%. Currently, there are 314.14M common shares owned by the public and among those 307.90M shares have been available to trade.
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Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 42,334 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 56,948 shares.
The top 3 mutual fund holders in CBRE Group Inc. are Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and Vanguard 500 Index Fund. Vanguard Real Estate Index Fund owns 14.33 million shares of the company’s stock, all valued at over $1.22 billion. The company sold 6574.0 shares recently to bring their total holdings to about 4.54% of the shares outstanding. Vanguard Total Stock Market Index bought 65295.0 shares to see its total holdings expand to 9.21 million shares valued at over $784.56 million and representing 2.92% of the shares outstanding. Vanguard 500 Index Fund bought 17343.0 shares to bring its total holdings to over 7.32 million shares at a value of $623.26 million. Vanguard 500 Index Fund now owns shares totaling to 2.32% of the shares outstanding.
Shares of CBRE Group Inc. (NYSE: CBRE) opened at $77.28, up $1.91 from a prior closing price of $75.37. However, the script later moved the day high at 77.73, up 0.53%. The company’s stock has a 5-day price change of -8.73% and -0.09% over the past three months. CBRE shares are trading -1.55% year to date (YTD), with the 12-month market performance down to -13.47% lower. It has a 12-month low price of $66.31 and touched a high of $94.21 over the same period. CBRE has an average intraday trading volume of 1.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -10.85%, -10.04%, and -3.31% respectively.
Institutional ownership of CBRE Group Inc. (NYSE: CBRE) shares accounts for 99.20% of the company’s 314.14M shares outstanding. Mutual fund holders own 56.35%, while other institutional holders and individual stakeholders account for 6.07% and 41.28% respectively.
It has a market capitalization of $24.41B and a beta (3y monthly) value of 1.40. The stock’s trailing 12-month PE ratio is 17.74, while the earnings-per-share (ttm) stands at $4.27. The company has a PEG of 1.61 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.24% over the week and 2.34% over the month.
Analysts forecast that CBRE Group Inc. (CBRE) will achieve an EPS of $1.18 for the current quarter, $1.02 for the next quarter and $5.04 for 2023. The lowest estimate earnings-per-share for the quarter is $1.12 while analysts give the company a high EPS estimate of $1.3. Comparatively, EPS for the current quarter was $1.8 a year ago. Earnings per share for the fiscal year are expected to decrease by -20.60%, and 17.68% over the next financial year. EPS should shrink at an annualized rate of 11.00% over the next five years, compared to 11.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate CBRE Group Inc. (CBRE) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 4 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CBRE, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on January 27, 2023, with the firm’s price target at $100. Keefe Bruyette coverage for the CBRE Group Inc. (CBRE) stock in a research note released on January 27, 2023 offered a Mkt Perform rating with a price target of $88. Raymond James was of a view on July 22, 2022 that the stock is Strong Buy, while Goldman gave the stock Buy rating on April 05, 2022, issuing a price target of $111. Keefe Bruyette on their part issued Outperform rating on November 23, 2021.
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