Cushman & Wakefield PLC $CWK Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in Cushman & Wakefield PLC (NYSE:CWK) by 47.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,495,688 shares of the company’s stock after selling 4,917,667 shares during the period. JPMorgan Chase & Co.’s holdings in Cushman & Wakefield were worth $87,491,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in shares of Cushman & Wakefield by 126.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,364 shares of the company’s stock worth $26,000 after buying an additional 1,321 shares during the last quarter. First Horizon Corp purchased a new stake in Cushman & Wakefield during the 3rd quarter valued at approximately $32,000. Quarry LP lifted its position in Cushman & Wakefield by 4,473.5% during the 3rd quarter. Quarry LP now owns 2,241 shares of the company’s stock worth $36,000 after acquiring an additional 2,192 shares during the period. Community Bank N.A. acquired a new stake in Cushman & Wakefield during the 3rd quarter worth approximately $45,000. Finally, Osaic Holdings Inc. grew its stake in shares of Cushman & Wakefield by 85.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,354 shares of the company’s stock valued at $48,000 after purchasing an additional 2,012 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CWK. Wall Street Zen lowered Cushman & Wakefield from a “strong-buy” rating to a “buy” rating in a report on Monday, February 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $19.00 price target on shares of Cushman & Wakefield in a report on Friday, January 16th. Citigroup raised shares of Cushman & Wakefield from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, November 20th. Weiss Ratings restated a “hold (c)” rating on shares of Cushman & Wakefield in a research report on Wednesday, January 21st. Finally, Wolfe Research upgraded shares of Cushman & Wakefield from a “peer perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Monday, February 9th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cushman & Wakefield has a consensus rating of “Moderate Buy” and an average price target of $18.06.

Cushman & Wakefield Stock Performance

NYSE CWK opened at $12.39 on Thursday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 32.62 and a beta of 1.49. The business’s 50 day moving average is $14.60 and its two-hundred day moving average is $15.50. Cushman & Wakefield PLC has a 12-month low of $7.64 and a 12-month high of $17.40. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.34.

Cushman & Wakefield (NYSE:CWK) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. Cushman & Wakefield had a return on equity of 15.02% and a net margin of 0.86%.The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts expect that Cushman & Wakefield PLC will post 1.2 EPS for the current year.

Cushman & Wakefield Company 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.