Mainstream Capital Management LLC Buys Shares of 1,845 CBRE Group, Inc. (NYSE:CBRE)

Mainstream Capital Management LLC bought a new stake in CBRE Group, Inc. (NYSE:CBRE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,845 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in CBRE Group by 3.9% in the third quarter. Principal Financial Group Inc. now owns 7,424,671 shares of the financial services provider’s stock valued at $924,223,000 after buying an additional 277,922 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of CBRE Group by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,136,802 shares of the financial services provider’s stock worth $763,909,000 after purchasing an additional 49,732 shares during the period. Earnest Partners LLC raised its position in shares of CBRE Group by 1.5% during the second quarter. Earnest Partners LLC now owns 3,636,908 shares of the financial services provider’s stock worth $324,085,000 after purchasing an additional 54,510 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CBRE Group by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 3,317,751 shares of the financial services provider’s stock worth $295,640,000 after purchasing an additional 142,088 shares during the period. Finally, Vulcan Value Partners LLC raised its position in shares of CBRE Group by 4.8% during the second quarter. Vulcan Value Partners LLC now owns 2,666,141 shares of the financial services provider’s stock worth $237,323,000 after purchasing an additional 123,108 shares during the period. Institutional investors and hedge funds own 98.41% of the company’s stock.

CBRE Group Stock Up 2.0 %

Shares of CBRE Group stock opened at $132.05 on Friday. The business’s 50 day simple moving average is $122.61 and its 200 day simple moving average is $104.75. CBRE Group, Inc. has a 52-week low of $71.96 and a 52-week high of $136.92. The firm has a market cap of $40.41 billion, a PE ratio of 42.46 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13.

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, beating analysts’ consensus estimates of $1.06 by $0.14. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. CBRE Group had a return on equity of 13.91% and a net margin of 2.79%. CBRE Group’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. On average, analysts predict that CBRE Group, Inc. will post 5.02 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 217,094 shares in the company, valued at $24,894,168.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Christopher T. Jenny sold 10,847 shares of CBRE Group stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $112.00, for a total transaction of $1,214,864.00. Following the completion of the transaction, the director now directly owns 51,244 shares in the company, valued at approximately $5,739,328. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $114.67, for a total value of $1,146,700.00. Following the transaction, the chief executive officer now owns 217,094 shares of the company’s stock, valued at $24,894,168.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,232 shares of company stock worth $2,839,047 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CBRE. Keefe, Bruyette & Woods raised their price target on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Raymond James raised their price target on CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Evercore ISI raised their price target on CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wolfe Research raised CBRE Group to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Morgan Stanley began coverage on CBRE Group in a research report on Thursday, July 25th. They set an “equal weight” rating and a $105.00 price target on the stock. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

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.