Harris Associates L P Sells 1,092,239 Shares of CBRE Group, Inc. $CBRE

Harris Associates L P lessened its holdings in CBRE Group, Inc. (NYSE:CBRE) by 10.1% during the first quarter, HoldingsChannel reports. 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 accounts for 2.1% of Harris Associates L P’s holdings, making the stock its 14th largest position. Harris Associates L P’s holdings in CBRE Group were worth $1,266,650,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. WPG Advisers LLC bought a new position in shares of CBRE Group in the 1st quarter worth about $26,000. Investment Management Corp VA ADV acquired a new position in CBRE Group during the 4th quarter valued at about $28,000. Hughes Financial Services LLC purchased a new position in shares of CBRE Group in the 1st quarter worth approximately $28,000. Golden State Wealth Management LLC boosted its stake 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 buying an additional 213 shares during the last quarter. Finally, Colonial Trust Co SC lifted its stake in CBRE Group by 183.7% in the fourth quarter. Colonial Trust Co SC now owns 278 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 180 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.

CBRE Group Trading Down 0.0%

Shares of CBRE opened at $161.98 on Monday. CBRE Group, Inc. has a 1-year low of $108.45 and a 1-year high of $165.41. The company has a 50-day moving average of $149.51 and a 200 day moving average of $135.58. The firm has a market capitalization of $48.20 billion, a price-to-earnings ratio of 45.37 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.13 and a quick ratio of 1.13.

CBRE Group (NYSE:CBRE) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The business had revenue of $9.75 billion for the quarter, compared to the consensus estimate of $9.50 billion. CBRE Group had a net margin of 2.86% and a return on equity of 18.89%. CBRE Group has set its FY 2025 guidance at 6.100-6.200 EPS. On average, research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In other news, CAO Lindsey S. Caplan sold 1,494 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $155.37, for a total transaction of $232,122.78. Following the completion of the sale, the chief accounting officer owned 26,717 shares of the company’s stock, valued at $4,151,020.29. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vikramaditya Kohli sold 1,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $154.90, for a total transaction of $154,900.00. Following the completion of the sale, the chief executive officer directly owned 111,473 shares of the company’s stock, valued at $17,267,167.70. This represents a 0.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,926 shares of company stock valued at $1,338,073. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CBRE has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $131.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. Raymond James Financial upped their price target on shares of CBRE Group from $163.00 to $166.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Evercore ISI upped their price target on shares of CBRE Group from $164.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, August 25th. JPMorgan Chase & Co. increased their price target on shares of CBRE Group from $143.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised shares of CBRE Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.22.

About CBRE Group

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.