Investment management firm Vulcan Value Partners recently released its Q3 2024 Investor Letter. A copy of the letter can be downloaded here. While the company is pleased with the results, quarterly results during the quarter were mixed. The company took advantage of stock price fluctuations to allocate capital to companies with better price-to-value ratios. For the quarter, the fund’s large-cap composite returned 8.2% excluding fees and expenses, its small-cap composite returned a net 9.1%, its Focus composite returned a net 5.6%, and its Focus Plus composite returned a net 5.9%. The All Cap composite returned 8.1%. net%. For more information on the fund’s best picks for 2024, check out its top 5 holdings.
Vulcan Value Partners highlighted stocks such as Cushman & Wakefield plc (NYSE:CWK) in its Q3 2024 investor letter. Cushman & Wakefield plc (NYSE:CWK) is a commercial real estate services provider headquartered in London, UK. Cushman & Wakefield plc (NYSE:CWK) has a 1-month return of -4.52%, and the stock has increased 88.49% of its value over the past 52 weeks. Cushman & Wakefield plc (NYSE:CWK) stock closed at $13.10 per share on October 16, 2024, giving it a market cap of $3.03 billion.
Vulcan Value Partners said the following about Cushman & Wakefield plc (NYSE:CWK) in its Q3 2024 investor letter:
“Cushman & Wakefield plc (NYSE:CWK) provides commercial real estate services, including property management, transaction management, rental brokerage, and other services in commercial real estate sales and services.・Wakefield has a solid asset-light business model. In addition, Cushman & Wakefield had a strong quarter with slightly higher than expected lease revenue. · & Wakefield has shown itself to be benefiting from the recent decline in interest rates.
An impressive commercial building that showcases the company’s real estate services.
Cushman & Wakefield plc (NYSE:CWK) isn’t on our list of 31 most popular stocks among hedge funds. Our database shows that 23 hedge fund portfolios held Cushman & Wakefield plc (NYSE:CWK) at the end of the second quarter, compared to 22 in the prior quarter. While we appreciate the investment potential of Cushman & Wakefield plc (NYSE:CWK), we believe AI stocks have a better chance of delivering higher returns in a shorter time frame. If you’re looking for an AI stock with as much promise as NVIDIA, but trading at less than 5x earnings, check out our report on the cheapest AI stocks.
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In another article, we discussed Cushman & Wakefield plc (NYSE:CWK) and shared a list of the most undervalued UK stocks to buy. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q3 2024 page.
Read next: Michael Varley sells these stocks, ushering in a new dawn for U.S. stocks.
Disclosure: None. This article was originally published on Insider Monkey.
