Granite Investment Partners LLC Sells 43,619 Shares of Cushman & Wakefield PLC $CWK

Granite Investment Partners LLC lessened its stake in Cushman & Wakefield PLC (NYSE:CWK) by 6.2% in the first quarter, HoldingsChannel reports. The fund owned 660,430 shares of the company’s stock after selling 43,619 shares during the period. Granite Investment Partners LLC’s holdings in Cushman & Wakefield were worth $8,097,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CWK. Dimensional Fund Advisors LP increased its stake in Cushman & Wakefield by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,850,956 shares of the company’s stock worth $208,062,000 after purchasing an additional 109,963 shares during the period. State Street Corp boosted its stake in shares of Cushman & Wakefield by 2.2% during the fourth quarter. State Street Corp now owns 9,138,118 shares of the company’s stock valued at $147,946,000 after purchasing an additional 197,430 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Cushman & Wakefield by 23.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,519,263 shares of the company’s stock valued at $105,549,000 after purchasing an additional 1,233,055 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cushman & Wakefield by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 5,985,475 shares of the company’s stock worth $96,918,000 after purchasing an additional 29,832 shares during the last quarter. Finally, Channing Capital Management LLC grew its holdings in shares of Cushman & Wakefield by 46.0% in the fourth quarter. Channing Capital Management LLC now owns 5,105,717 shares of the company’s stock worth $82,662,000 after purchasing an additional 1,609,190 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Nathaniel Robinson sold 24,828 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $13.25, for a total value of $328,971.00. Following the sale, the insider directly owned 70,876 shares of the company’s stock, valued at $939,107. The trade was a 25.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.74% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Cushman & Wakefield Price Performance

CWK opened at $13.45 on Thursday. The stock has a fifty day simple moving average of $13.31 and a two-hundred day simple moving average of $14.04. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 42.02 and a beta of 1.44. Cushman & Wakefield PLC has a 12-month low of $10.94 and a 12-month high of $17.40.

Cushman & Wakefield (NYSE:CWK) last announced its earnings results on Wednesday, May 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.09 EPS. Research analysts predict that Cushman & Wakefield PLC will post 1.45 earnings per share for the current fiscal year.

About Cushman & Wakefield

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.