Olstein Capital Management L.P. Cuts Stock Holdings in CBRE Group, Inc. (NYSE:CBRE)

Olstein Capital Management L.P. lowered its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 17.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,000 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. CBRE Group accounts for about 1.5% of Olstein Capital Management L.P.’s portfolio, making the stock its 19th largest position. Olstein Capital Management L.P.’s holdings in CBRE Group were worth $8,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CBRE. Swedbank AB purchased a new position in CBRE Group in the first quarter valued at $162,576,000. Robeco Institutional Asset Management B.V. increased its holdings in CBRE Group by 60.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock valued at $329,320,000 after buying an additional 993,963 shares during the last quarter. Eminence Capital LP increased its holdings in CBRE Group by 42.6% in the second quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock valued at $135,287,000 after buying an additional 453,406 shares during the last quarter. Maverick Capital Ltd. purchased a new position in CBRE Group in the second quarter valued at $36,820,000. Finally, Delta Global Management LP increased its holdings in CBRE Group by 266.2% in the first quarter. Delta Global Management LP now owns 543,780 shares of the financial services provider’s stock valued at $52,877,000 after buying an additional 395,297 shares during the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CBRE. Morgan Stanley started coverage on CBRE Group in a report on Thursday, July 25th. They issued an “equal weight” rating and a $105.00 target price on the stock. Keefe, Bruyette & Woods increased their target price on shares of CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 29th. Raymond James increased their target price on shares of CBRE Group from $122.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. 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 note on Friday, October 4th. Finally, Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a research note on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.83.

CBRE Group Price Performance

Shares of CBRE traded up $2.05 during mid-day trading on Thursday, reaching $131.45. 112,959 shares of the company’s stock were exchanged, compared to its average volume of 1,651,895. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $122.61 and a two-hundred day simple moving average of $104.75. CBRE Group, Inc. has a 52-week low of $71.96 and a 52-week high of $136.92. The company has a market cap of $40.23 billion, a price-to-earnings ratio of 41.61 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 earnings per share 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 during the quarter, compared to analysts’ expectations of $8.80 billion. During the same period last year, the company posted $0.72 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that CBRE Group, Inc. will post 5.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CBRE Group news, CEO Daniel G. Queenan sold 10,000 shares of CBRE Group stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 217,094 shares of the company’s stock, valued at approximately $24,894,168.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Vikramaditya Kohli sold 1,074 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $108.89, for a total transaction of $116,947.86. Following the sale, the chief operating officer now directly owns 69,226 shares of the company’s stock, valued at $7,538,019.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,232 shares of company stock valued at $2,839,047. Company insiders own 0.54% of the company’s stock.

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.