Midway Capital Research & Management Acquires New Shares in Jones Lang LaSalle Incorporated $JLL

Midway Capital Research & Management bought a new position in Jones Lang LaSalle Incorporated (NYSE:JLL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,728 shares of the financial services provider’s stock, valued at approximately $5,965,000. Jones Lang LaSalle accounts for 5.8% of Midway Capital Research & Management’s investment portfolio, making the stock its 3rd largest holding.

A number of other hedge funds also recently modified their holdings of the business. DigitalBridge Group Inc. bought a new stake in shares of Jones Lang LaSalle during the third quarter worth approximately $1,223,000. Lighthouse Investment Partners LLC raised its holdings in Jones Lang LaSalle by 41.8% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 30,316 shares of the financial services provider’s stock valued at $9,043,000 after acquiring an additional 8,930 shares in the last quarter. William Blair Investment Management LLC lifted its position in Jones Lang LaSalle by 25.0% during the third quarter. William Blair Investment Management LLC now owns 143,274 shares of the financial services provider’s stock worth $42,736,000 after purchasing an additional 28,617 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Jones Lang LaSalle by 14.2% during the 3rd quarter. Channing Capital Management LLC now owns 36,347 shares of the financial services provider’s stock worth $10,842,000 after acquiring an additional 4,517 shares during the period. Finally, GRS Advisors LLC bought a new stake in Jones Lang LaSalle during the third quarter worth $18,659,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Jones Lang LaSalle Price Performance

Shares of NYSE JLL opened at $297.12 on Friday. The stock has a fifty day simple moving average of $310.94 and a two-hundred day simple moving average of $319.97. Jones Lang LaSalle Incorporated has a 1-year low of $237.03 and a 1-year high of $363.06. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 15.97 and a beta of 1.29. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.42. The company had revenue of $6.39 billion during the quarter, compared to analysts’ expectations of $6 billion. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 earnings per share. Analysts anticipate that Jones Lang LaSalle Incorporated will post 22.8 earnings per share for the current year.

Insider Activity at Jones Lang LaSalle

In related news, CEO Richard Bloxam sold 5,440 shares of Jones Lang LaSalle stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total value of $1,615,353.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $295.14, for a total value of $118,941.42. Following the completion of the transaction, the director directly owned 4,771 shares in the company, valued at $1,408,112.94. This trade represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,245 shares of company stock worth $1,855,590 over the last three months. Insiders own 0.91% of the company’s stock.

Analysts Set New Price Targets

JLL has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price objective on Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Weiss Ratings downgraded shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Barclays raised their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 13th. UBS Group lifted their price target on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Zacks Research lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $394.00.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated (NYSE: JLL) is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.