Prescott Group Capital Management L.L.C. bought a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,036 shares of the financial services provider’s stock, valued at approximately $1,844,000.
A number of other hedge funds have also bought and sold shares of JLL. BlackRock Inc. purchased a new position in shares of Jones Lang LaSalle in the second quarter worth $1,446,414,000. Principal Financial Group Inc. grew its holdings in shares of Jones Lang LaSalle by 279.6% during the first quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider’s stock valued at $130,683,000 after buying an additional 316,299 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at $87,669,000. Bank of America Corp DE acquired a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at $83,791,000. Finally, Equity Investment Corp purchased a new position in Jones Lang LaSalle in the 2nd quarter worth $81,056,000. Institutional investors and hedge funds own 94.80% of the company’s stock.
Insiders Place Their Bets
In related news, CEO Christian Ulbrich sold 2,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the completion of the transaction, the chief executive officer owned 138,418 shares of the company’s stock, valued at approximately $53,364,291.54. This represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 6,000 shares of company stock valued at $2,271,060. Corporate insiders own 0.91% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have commented on JLL. Zacks Research cut Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. Citigroup restated a “market perform” rating on shares of Jones Lang LaSalle in a research note on Thursday, September 17th. Keefe, Bruyette & Woods decreased their target price on Jones Lang LaSalle from $415.00 to $385.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Raymond James Financial reiterated a “strong-buy” rating and issued a $500.00 target price on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $427.60.
View Our Latest Stock Analysis on Jones Lang LaSalle
Jones Lang LaSalle Price Performance
NYSE:JLL opened at $374.61 on Wednesday. Jones Lang LaSalle Incorporated has a one year low of $259.83 and a one year high of $393.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.43 and a current ratio of 2.43. The firm has a market cap of $17.11 billion, a price-to-earnings ratio of 16.21 and a beta of 1.29. The firm’s fifty day moving average is $330.96 and its two-hundred day moving average is $324.85.
Jones Lang LaSalle (NYSE:JLL – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share for the quarter, beating analysts’ consensus estimates of $6.15 by $0.61. Jones Lang LaSalle had a return on equity of 15.05% and a net margin of 3.89%. The business had revenue of $7.28 billion during the quarter, compared to analyst estimates of $7.24 billion. During the same quarter last year, the business posted $4.50 EPS. The company’s revenue was up 11.8% on a year-over-year basis. Research analysts expect that Jones Lang LaSalle Incorporated will post 25.16 EPS for the current year.
About Jones Lang LaSalle
Jones Lang LaSalle Incorporated, doing business as JLL, is a global commercial real estate services and investment management company. It serves property owners, occupiers, investors and developers across a broad range of real estate sectors, including office, industrial, retail, residential, hospitality and specialized properties.
JLL’s services include leasing, capital markets and investment sales, property and facilities management, project and development management, valuation and advisory services, workplace strategy, sustainability consulting and real estate technology solutions.
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