Jones Lang LaSalle (NYSE:JLL) Reaches New 52-Week High – Still a Buy?

Jones Lang LaSalle Incorporated (NYSE:JLL) shares reached a new 52-week high on Wednesday . The company traded as high as $369.95 and last traded at $367.6940, with a volume of 324233 shares traded. The stock had previously closed at $366.06.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. 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. Raymond James Financial restated a “strong-buy” rating and issued a $500.00 price objective on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their target price on Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays lifted their target price on Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th. Finally, UBS Group increased their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $417.83.

Jones Lang LaSalle Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40. The stock’s 50 day moving average price is $315.56 and its 200 day moving average price is $317.43. The company has a market capitalization of $16.92 billion, a P/E ratio of 17.62 and a beta of 1.25.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, topping analysts’ consensus estimates of $4.56 by $0.70. The firm had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $6.88 billion. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The business’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business posted $3.30 EPS. As a group, equities analysts expect that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current year.

Insiders Place Their Bets

In other Jones Lang LaSalle news, Director Larry Quinlan sold 402 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the transaction, the director directly owned 4,369 shares of the company’s stock, valued at approximately $1,318,258.37. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of JLL. Fiduciary Financial Group LLC acquired a new stake in Jones Lang LaSalle in the second quarter worth $301,000. Handelsbanken Fonder AB boosted its position in shares of Jones Lang LaSalle by 1.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 13,678 shares of the financial services provider’s stock worth $4,239,000 after purchasing an additional 200 shares in the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Jones Lang LaSalle by 1.2% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 28,072 shares of the financial services provider’s stock valued at $8,701,000 after buying an additional 341 shares during the period. Avior Wealth Management LLC increased its position in Jones Lang LaSalle by 14.8% in the 2nd quarter. Avior Wealth Management LLC now owns 2,008 shares of the financial services provider’s stock valued at $622,000 after buying an additional 259 shares in the last quarter. Finally, CX Institutional raised its stake in Jones Lang LaSalle by 112.2% during the 2nd quarter. CX Institutional now owns 541 shares of the financial services provider’s stock worth $168,000 after buying an additional 286 shares during the period. 94.80% of the stock is owned by institutional investors.

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.