Jones Lang LaSalle (NYSE:JLL) Sets New 12-Month High on Earnings Beat

Jones Lang LaSalle Incorporated (NYSE:JLL)’s stock price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $363.89 and last traded at $363.1260, with a volume of 727696 shares. The stock had previously closed at $340.00.

The financial services provider reported $5.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $0.70. The firm had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 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 10.8% on a year-over-year basis. During the same period last year, the company earned $3.30 EPS.

Wall Street Analyst Weigh In

JLL has been the topic of several research analyst reports. Weiss Ratings cut shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Barclays increased their price target on shares of Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Zacks Research downgraded Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Jones Lang LaSalle in a research report on Thursday. Finally, UBS Group boosted their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $394.40.

Insider Activity at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction on Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the transaction, the director owned 4,771 shares in the company, valued at approximately $1,408,112.94. The trade was a 7.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Jones Lang LaSalle

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. M&T Bank Corp raised its stake in shares of Jones Lang LaSalle by 184,969.0% during the fourth quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider’s stock valued at $1,300,201,000 after purchasing an additional 3,862,153 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Jones Lang LaSalle by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,180,514 shares of the financial services provider’s stock worth $397,209,000 after buying an additional 178,677 shares in the last quarter. Swedbank AB grew its stake in shares of Jones Lang LaSalle by 0.5% during the fourth quarter. Swedbank AB now owns 993,742 shares of the financial services provider’s stock valued at $334,364,000 after acquiring an additional 4,543 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Jones Lang LaSalle by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider’s stock worth $333,451,000 after acquiring an additional 15,995 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Jones Lang LaSalle by 426.7% in the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock valued at $302,697,000 after purchasing an additional 728,824 shares during the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Stock Up 6.8%

The company has a market capitalization of $16.85 billion, a PE ratio of 19.52 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a fifty day simple moving average of $309.83 and a 200-day simple moving average of $316.96.

About Jones Lang LaSalle

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.