Reliant Investment Management LLC Raises Stock Position in CBRE Group, Inc. (NYSE:CBRE)

Reliant Investment Management LLC lifted its stake in shares of CBRE Group, Inc. (NYSE:CBRE) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 47,528 shares of the financial services provider’s stock after buying an additional 460 shares during the quarter. CBRE Group makes up approximately 2.8% of Reliant Investment Management LLC’s investment portfolio, making the stock its 14th biggest holding. Reliant Investment Management LLC’s holdings in CBRE Group were worth $6,240,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CBRE. Canton Hathaway LLC purchased a new position in shares of CBRE Group during the third quarter worth approximately $27,000. American National Bank & Trust bought a new position in shares of CBRE Group during the third quarter valued at approximately $28,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of CBRE Group by 190.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of CBRE Group during the third quarter valued at approximately $32,000. Finally, Wolff Wiese Magana LLC boosted its stake in shares of CBRE Group by 2,830.0% during the third quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 283 shares in the last quarter. 98.41% of the stock is owned by hedge funds and other institutional investors.

CBRE Group Price Performance

Shares of CBRE opened at $137.02 on Tuesday. The company has a market cap of $41.93 billion, a price-to-earnings ratio of 44.06 and a beta of 1.39. CBRE Group, Inc. has a twelve month low of $82.75 and a twelve month high of $142.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average of $133.43 and a two-hundred day moving average of $121.56.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, analysts predict that CBRE Group, Inc. will post 4.99 earnings per share for the current fiscal year.

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of CBRE Group stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total transaction of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at approximately $9,214,026.36. The trade was a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CBRE has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of CBRE Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $163.00 in a research note on Monday, December 16th. Morgan Stanley upgraded shares of CBRE Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $115.00 to $160.00 in a research note on Wednesday, January 15th. Evercore ISI dropped their price objective on shares of CBRE Group from $147.00 to $141.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group initiated coverage on shares of CBRE Group in a research note on Friday, December 6th. They set a “buy” rating and a $176.00 price objective on the stock. Finally, Jefferies Financial Group upgraded shares of CBRE Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CBRE Group presently has a consensus rating of “Moderate Buy” and an average price target of $145.44.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.