Norges Bank acquired a new position in shares of Cushman & Wakefield plc (NYSE:CWK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,960,270 shares of the company's stock, valued at approximately $38,720,000. Norges Bank owned approximately 1.29% of Cushman & Wakefield at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Cushman & Wakefield by 264.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,709 shares of the company's stock worth $48,000 after purchasing an additional 2,691 shares in the last quarter. Blue Trust Inc. increased its position in shares of Cushman & Wakefield by 26.5% during the fourth quarter. Blue Trust Inc. now owns 4,429 shares of the company's stock worth $60,000 after acquiring an additional 928 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Cushman & Wakefield during the fourth quarter worth about $135,000. Jones Financial Companies Lllp increased its position in shares of Cushman & Wakefield by 143.9% during the fourth quarter. Jones Financial Companies Lllp now owns 11,188 shares of the company's stock worth $146,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Cushman & Wakefield during the third quarter worth about $150,000. Institutional investors and hedge funds own 95.56% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Citigroup dropped their target price on Cushman & Wakefield from $16.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Jefferies Financial Group lowered Cushman & Wakefield from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $18.00 to $14.00 in a report on Thursday, January 2nd. The Goldman Sachs Group decreased their price objective on Cushman & Wakefield from $13.00 to $11.50 and set a "sell" rating for the company in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. increased their price objective on Cushman & Wakefield from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $14.10.
Read Our Latest Stock Analysis on CWK
Cushman & Wakefield Stock Down 5.6 %
Shares of CWK traded down $0.48 during mid-day trading on Thursday, reaching $8.10. The company's stock had a trading volume of 449,802 shares, compared to its average volume of 1,855,697. The business has a fifty day moving average of $11.26 and a 200 day moving average of $12.84. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 14.73 and a beta of 1.26. Cushman & Wakefield plc has a 1 year low of $7.64 and a 1 year high of $16.11. The company has a quick ratio of 1.18, a current ratio of 1.15 and a debt-to-equity ratio of 1.67.
Cushman & Wakefield (NYSE:CWK - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.67 billion. Cushman & Wakefield had a return on equity of 12.62% and a net margin of 1.39%. As a group, analysts forecast that Cushman & Wakefield plc will post 1.2 earnings per share for the current fiscal year.
Cushman & Wakefield Profile
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Free Report)
Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.
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