Canada Pension Plan Investment Board Sells 257,597 Shares of CBRE Group, Inc. (NYSE:CBRE)

Canada Pension Plan Investment Board decreased its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 19.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,044,913 shares of the financial services provider’s stock after selling 257,597 shares during the quarter. Canada Pension Plan Investment Board’s holdings in CBRE Group were worth $101,607,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new position in CBRE Group during the first quarter valued at $30,000. Turtle Creek Wealth Advisors LLC bought a new position in CBRE Group during the fourth quarter valued at $45,000. Planned Solutions Inc. bought a new position in CBRE Group during the fourth quarter valued at $52,000. EdgeRock Capital LLC bought a new position in CBRE Group during the fourth quarter valued at $59,000. Finally, CVA Family Office LLC bought a new position in CBRE Group during the fourth quarter valued at $78,000. Institutional investors own 98.41% of the company’s stock.

CBRE Group Trading Up 2.9 %

CBRE stock traded up $3.12 during trading on Friday, hitting $110.55. The company had a trading volume of 3,578,154 shares, compared to its average volume of 1,475,929. The firm has a market capitalization of $33.92 billion, a P/E ratio of 34.44 and a beta of 1.40. CBRE Group, Inc. has a 52-week low of $64.63 and a 52-week high of $112.21. The company has a 50 day simple moving average of $90.59 and a 200-day simple moving average of $90.03. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.36.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $8.39 billion for the quarter, compared to the consensus estimate of $8.31 billion. CBRE Group had a net margin of 2.79% and a return on equity of 12.74%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 EPS. As a group, research analysts forecast that CBRE Group, Inc. will post 4.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CBRE has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of CBRE Group from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday. Raymond James increased their target price on shares of CBRE Group from $122.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday. Morgan Stanley began coverage on shares of CBRE Group in a research note on Thursday. They issued an “equal weight” rating and a $105.00 target price on the stock. Evercore ISI raised shares of CBRE Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $100.00 to $123.00 in a research note on Friday. Finally, Jefferies Financial Group began coverage on shares of CBRE Group in a research note on Wednesday, April 10th. They issued a “hold” rating and a $107.00 target price on the stock. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CBRE Group has an average rating of “Moderate Buy” and a consensus target price of $108.86.

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.