Mechanics Bank Trust Department Lowers Stake in CBRE Group, Inc. $CBRE

Mechanics Bank Trust Department cut its stake in CBRE Group, Inc. (NYSE:CBRE) by 6.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,235 shares of the financial services provider’s stock after selling 209 shares during the period. Mechanics Bank Trust Department’s holdings in CBRE Group were worth $453,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of CBRE Group by 217.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,913,299 shares of the financial services provider’s stock worth $511,781,000 after purchasing an additional 2,680,337 shares in the last quarter. Nuveen LLC purchased a new position in shares of CBRE Group during the 1st quarter valued at about $214,283,000. GAMMA Investing LLC lifted its position in CBRE Group by 20,889.0% in the 1st quarter. GAMMA Investing LLC now owns 1,291,453 shares of the financial services provider’s stock worth $168,896,000 after buying an additional 1,285,300 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in CBRE Group by 212.4% in the first quarter. Assenagon Asset Management S.A. now owns 1,090,631 shares of the financial services provider’s stock worth $142,633,000 after buying an additional 741,477 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in CBRE Group by 24.7% during the first quarter. JPMorgan Chase & Co. now owns 3,724,784 shares of the financial services provider’s stock valued at $487,127,000 after acquiring an additional 738,704 shares during the last quarter. Institutional investors own 98.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, CEO Vikramaditya Kohli sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $154.90, for a total value of $154,900.00. Following the sale, the chief executive officer directly owned 111,473 shares of the company’s stock, valued at $17,267,167.70. The trade was a 0.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Emma E. Giamartino sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $157.60, for a total value of $315,200.00. Following the completion of the sale, the chief financial officer owned 103,371 shares in the company, valued at $16,291,269.60. The trade was a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,494 shares of company stock valued at $857,593 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

CBRE Group Price Performance

Shares of CBRE stock opened at $162.69 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock has a market cap of $48.41 billion, a price-to-earnings ratio of 45.57 and a beta of 1.36. The business’s fifty day moving average is $156.78 and its 200 day moving average is $138.18. CBRE Group, Inc. has a twelve month low of $108.45 and a twelve month high of $167.56.

CBRE Group (NYSE:CBRE) last announced 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 firm had revenue of $9.75 billion for the quarter, compared to analysts’ expectations 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. Research analysts expect that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

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.