Parnassus Investments LLC Increases Holdings in CBRE Group, Inc. $CBRE

Parnassus Investments LLC boosted its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,795,528 shares of the financial services provider’s stock after buying an additional 6,001 shares during the quarter. Parnassus Investments LLC owned approximately 0.60% of CBRE Group worth $282,903,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in CBRE Group by 1.8% in the 2nd quarter. State Street Corp now owns 13,734,182 shares of the financial services provider’s stock valued at $1,924,434,000 after buying an additional 236,323 shares during the period. Geode Capital Management LLC increased its holdings in shares of CBRE Group by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 8,249,441 shares of the financial services provider’s stock valued at $1,158,068,000 after acquiring an additional 134,160 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of CBRE Group by 0.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,939,862 shares of the financial services provider’s stock valued at $552,053,000 after purchasing an additional 26,563 shares during the last quarter. Norges Bank purchased a new stake in CBRE Group in the 2nd quarter valued at approximately $544,554,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of CBRE Group by 9.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,628,945 shares of the financial services provider’s stock valued at $513,931,000 after acquiring an additional 319,115 shares during the period. 98.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CBRE shares. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $185.00 to $192.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays assumed coverage on shares of CBRE Group in a report on Tuesday, December 2nd. They set an “overweight” rating and a $190.00 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CBRE Group in a research report on Wednesday, October 8th. UBS Group lifted their target price on shares of CBRE Group from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Finally, Morgan Stanley upped their price target on CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.86.

CBRE Group Trading Down 0.3%

Shares of CBRE Group stock opened at $165.39 on Friday. CBRE Group, Inc. has a 52 week low of $108.45 and a 52 week high of $171.00. The stock has a market capitalization of $49.22 billion, a PE ratio of 40.84 and a beta of 1.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day moving average price of $158.86 and a two-hundred day moving average price of $155.81.

CBRE Group (NYSE:CBRE) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.15. CBRE Group had a return on equity of 20.55% and a net margin of 3.12%.The firm had revenue of $10.26 billion during the quarter, compared to analyst estimates of $10.11 billion. During the same period in the previous year, the company posted $1.20 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. As a group, equities analysts anticipate that CBRE Group, Inc. will post 5.99 earnings per share for the current fiscal year.

About CBRE Group

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.