Norges Bank Purchases Shares of 2,960,270 Cushman & Wakefield plc (NYSE:CWK)

Norges Bank acquired a new position in Cushman & Wakefield plc (NYSE:CWK) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vestcor Inc boosted its holdings in Cushman & Wakefield by 316.7% in the 4th quarter. Vestcor Inc now owns 70,529 shares of the company’s stock worth $923,000 after buying an additional 53,602 shares during the period. Knights of Columbus Asset Advisors LLC bought a new position in shares of Cushman & Wakefield in the fourth quarter worth about $1,003,000. JPMorgan Chase & Co. raised its stake in Cushman & Wakefield by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 13,700,599 shares of the company’s stock valued at $179,204,000 after purchasing an additional 806,684 shares during the period. Proficio Capital Partners LLC purchased a new position in Cushman & Wakefield in the 4th quarter worth approximately $318,000. Finally, Channing Capital Management LLC bought a new position in Cushman & Wakefield in the 4th quarter worth approximately $61,732,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CWK has been the topic of several recent analyst reports. Jefferies Financial Group cut shares of Cushman & Wakefield from a “buy” rating to a “hold” rating and reduced their price objective for the company from $18.00 to $14.00 in a research report on Thursday, January 2nd. Citigroup decreased their price target on shares of Cushman & Wakefield from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. The Goldman Sachs Group cut their price objective on Cushman & Wakefield from $13.00 to $11.50 and set a “sell” rating for the company in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. boosted their target price on Cushman & Wakefield from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.10.

Cushman & Wakefield Price Performance

CWK stock opened at $8.99 on Friday. The company has a fifty day simple moving average of $11.80 and a two-hundred day simple moving average of $13.01. Cushman & Wakefield plc has a 52 week low of $8.48 and a 52 week 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. The firm has a market capitalization of $2.06 billion, a P/E ratio of 16.34 and a beta of 1.26.

Cushman & Wakefield (NYSE:CWK) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. Cushman & Wakefield had a return on equity of 12.62% and a net margin of 1.39%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.67 billion. Analysts anticipate that Cushman & Wakefield plc will post 1.2 earnings per share for the current fiscal year.

Cushman & Wakefield Company Profile

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.