King Luther Capital Management Corp Makes New Investment in CBRE Group, Inc. (NYSE:CBRE)

King Luther Capital Management Corp purchased a new position in CBRE Group, Inc. (NYSE:CBRE) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,804 shares of the financial services provider’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Advisors LLC grew its stake in shares of CBRE Group by 29.9% in the 3rd quarter. Cornerstone Advisors LLC now owns 16,500 shares of the financial services provider’s stock valued at $2,054,000 after buying an additional 3,800 shares in the last quarter. Premier Fund Managers Ltd grew its position in CBRE Group by 7.4% in the third quarter. Premier Fund Managers Ltd now owns 580,000 shares of the financial services provider’s stock worth $71,439,000 after acquiring an additional 40,000 shares in the last quarter. Parnassus Investments LLC increased its stake in shares of CBRE Group by 5.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,020,910 shares of the financial services provider’s stock worth $251,563,000 after purchasing an additional 98,652 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of CBRE Group during the 3rd quarter valued at $2,862,000. Finally, Pathstone Holdings LLC lifted its stake in shares of CBRE Group by 6.1% in the 3rd quarter. Pathstone Holdings LLC now owns 40,256 shares of the financial services provider’s stock valued at $5,011,000 after purchasing an additional 2,329 shares during the last quarter. 98.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CBRE shares. Evercore ISI increased their target price on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods raised their price objective on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Finally, Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

CBRE Group Stock Performance

CBRE opened at $135.43 on Monday. CBRE Group, Inc. has a 12-month low of $77.97 and a 12-month high of $137.93. The firm has a market capitalization of $41.44 billion, a P/E ratio of 43.55 and a beta of 1.39. The stock’s 50 day moving average price is $126.83 and its two-hundred day moving average price is $108.80. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34.

CBRE Group (NYSE:CBRE) last announced its earnings results on Thursday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. CBRE Group’s revenue was up 14.8% compared to the same quarter last year. On average, equities analysts forecast that CBRE Group, Inc. will post 4.94 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Daniel G. Queenan sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $114.67, for a total value of $1,146,700.00. Following the completion of the transaction, the chief executive officer now owns 217,094 shares in the company, valued at approximately $24,894,168.98. This represents a 4.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Emma E. Giamartino sold 1,815 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $131.34, for a total transaction of $238,382.10. Following the transaction, the chief financial officer now directly owns 70,154 shares of the company’s stock, valued at $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

CBRE Group Company 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.