Granite Investment Partners LLC Trims Holdings in Cushman & Wakefield PLC $CWK

Granite Investment Partners LLC decreased its stake in shares of Cushman & Wakefield PLC (NYSE:CWK) by 6.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 660,430 shares of the company’s stock after selling 43,619 shares during the period. Granite Investment Partners LLC owned 0.28% of Cushman & Wakefield worth $8,097,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Personal CFO Solutions LLC increased its position in shares of Cushman & Wakefield by 11.2% during the first quarter. Personal CFO Solutions LLC now owns 16,326 shares of the company’s stock valued at $200,000 after buying an additional 1,650 shares during the period. Impact Investors Inc bought a new position in shares of Cushman & Wakefield in the first quarter valued at approximately $161,000. Y Intercept Hong Kong Ltd boosted its position in shares of Cushman & Wakefield by 173.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 184,497 shares of the company’s stock valued at $2,262,000 after acquiring an additional 116,997 shares during the period. Peregrine Capital Management LLC grew its stake in Cushman & Wakefield by 1.6% during the first quarter. Peregrine Capital Management LLC now owns 342,711 shares of the company’s stock valued at $4,202,000 after acquiring an additional 5,328 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Cushman & Wakefield by 8.8% during the first quarter. Pictet Asset Management Holding SA now owns 38,906 shares of the company’s stock valued at $477,000 after acquiring an additional 3,157 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Activity at Cushman & Wakefield

In related news, insider Nathaniel Robinson sold 24,828 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $13.25, for a total transaction of $328,971.00. Following the transaction, the insider directly owned 70,876 shares of the company’s stock, valued at approximately $939,107. This trade represents a 25.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

CWK has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Cushman & Wakefield from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. The Goldman Sachs Group set a $17.00 price target on shares of Cushman & Wakefield and gave the company a “buy” rating in a research report on Friday, May 22nd. Wall Street Zen cut shares of Cushman & Wakefield from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Barclays lowered their price objective on Cushman & Wakefield from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Cushman & Wakefield has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Cushman & Wakefield Trading Down 2.6%

Shares of CWK opened at $13.45 on Thursday. Cushman & Wakefield PLC has a 1-year low of $10.94 and a 1-year high of $17.40. The company has a market capitalization of $3.15 billion, a P/E ratio of 42.02 and a beta of 1.44. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s 50 day simple moving average is $13.31 and its 200 day simple moving average is $14.04.

Cushman & Wakefield (NYSE:CWK) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Cushman & Wakefield had a net margin of 0.70% and a return on equity of 15.41%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Cushman & Wakefield PLC will post 1.45 earnings per share for the current fiscal year.

Cushman & Wakefield Profile

Cushman & Wakefield is a leading global commercial real estate services firm headquartered in Chicago. The company provides a wide range of services to occupiers and investors, specializing in transaction management, property management, facilities management and project management. Its clientele spans corporate occupiers, landlords, investors and government entities seeking solutions to optimize their real estate portfolios and operations.

The firm’s core offerings include leasing advisory for office, industrial, retail and multifamily properties, as well as capital markets advice on acquisitions, dispositions and debt and equity placements.