Parnassus Investments LLC Acquires 6,001 Shares of CBRE Group, Inc. $CBRE

Parnassus Investments LLC grew its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 0.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,795,528 shares of the financial services provider’s stock after acquiring an additional 6,001 shares during the quarter. Parnassus Investments LLC’s holdings in CBRE Group were worth $282,903,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in CBRE Group during the 2nd quarter valued at about $544,554,000. Qube Research & Technologies Ltd raised its position in shares of CBRE Group by 210.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,083,413 shares of the financial services provider’s stock worth $151,808,000 after purchasing an additional 734,563 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of CBRE Group during the second quarter valued at approximately $48,383,000. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 319,115 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of CBRE Group by 57.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 829,150 shares of the financial services provider’s stock valued at $116,180,000 after purchasing an additional 301,980 shares during the period. 98.41% of the stock is owned by institutional investors.

CBRE Group Stock Performance

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

CBRE Group (NYSE:CBRE) last issued its earnings results 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 net margin of 3.12% and a return on equity of 20.55%. The firm had revenue of $10.26 billion during the quarter, compared to the consensus estimate of $10.11 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s revenue was up 13.5% compared to the same quarter last year. CBRE Group has set its FY 2025 guidance at 6.250-6.350 EPS. On average, research analysts predict that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.