Principal Financial Group Inc. Buys 66,382 Shares of Cushman & Wakefield PLC $CWK

Principal Financial Group Inc. increased its stake in shares of Cushman & Wakefield PLC (NYSE:CWK) by 4.9% during the first quarter, HoldingsChannel reports. The fund owned 1,426,178 shares of the company’s stock after buying an additional 66,382 shares during the period. Principal Financial Group Inc.’s holdings in Cushman & Wakefield were worth $17,485,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its holdings in Cushman & Wakefield by 3.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 57,745 shares of the company’s stock worth $708,000 after purchasing an additional 2,100 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Cushman & Wakefield in the 1st quarter valued at about $330,000. Personal CFO Solutions LLC lifted its holdings in shares of Cushman & Wakefield by 11.2% in the first quarter. Personal CFO Solutions LLC now owns 16,326 shares of the company’s stock valued at $200,000 after purchasing an additional 1,650 shares in the last quarter. Impact Investors Inc bought a new stake in shares of Cushman & Wakefield in the first quarter valued at about $161,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings 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 purchasing an additional 116,997 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CWK. The Goldman Sachs Group set a $17.00 price objective on Cushman & Wakefield and gave the stock a “buy” rating in a report on Friday, May 22nd. Weiss Ratings upgraded Cushman & Wakefield from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Finally, Wall Street Zen downgraded Cushman & Wakefield from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Insider Activity

In related news, insider Nathaniel Robinson sold 24,828 shares of the company’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 sale, the insider owned 70,876 shares in the company, valued at approximately $939,107. This represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Cushman & Wakefield Stock Down 4.7%

Shares of CWK stock opened at $12.47 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. Cushman & Wakefield PLC has a 1 year low of $11.56 and a 1 year high of $17.40. The firm’s fifty day moving average price is $13.18 and its two-hundred day moving average price is $13.82. The firm has a market capitalization of $2.92 billion, a P/E ratio of 38.97 and a beta of 1.44.

Cushman & Wakefield (NYSE:CWK) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. Cushman & Wakefield had a net margin of 0.70% and a return on equity of 15.41%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. On average, equities analysts predict that Cushman & Wakefield PLC will post 1.45 EPS 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.