Jones Lang LaSalle (NYSE:JLL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Jones Lang LaSalle (NYSE:JLL) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday,Wall Street Zen reports.

A number of other research analysts have also issued reports on the company. Citigroup reiterated a “market perform” rating on shares of Jones Lang LaSalle in a research report on Thursday, September 17th. Weiss Ratings raised Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 18th. Keefe, Bruyette & Woods lowered their price target on Jones Lang LaSalle from $415.00 to $385.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Barclays lifted their price objective on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the company an “equal weight” rating in a research note on Monday, August 17th. Finally, Zacks Research downgraded shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and a consensus price target of $427.60.

Jones Lang LaSalle Stock Performance

JLL opened at $374.80 on Friday. The business’s 50 day moving average is $330.71 and its 200-day moving average is $325.48. The stock has a market cap of $17.12 billion, a PE ratio of 16.22 and a beta of 1.29. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.13. Jones Lang LaSalle has a twelve month low of $259.83 and a twelve month high of $395.79.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the company posted $4.50 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts predict that Jones Lang LaSalle will post 25.16 earnings per share for the current year.

Insider Activity at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the sale, the chief executive officer owned 138,418 shares of the company’s stock, valued at $53,364,291.54. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,000 shares of company stock worth $2,271,060 in the last quarter. 0.91% of the stock is owned by company insiders.

Hedge Funds Weigh In On Jones Lang LaSalle

Hedge funds have recently modified their holdings of the company. Deutsche Bank AG acquired a new position in Jones Lang LaSalle during the second quarter worth about $6,504,000. Tidal Investments LLC lifted its holdings in Jones Lang LaSalle by 47.9% in the 2nd quarter. Tidal Investments LLC now owns 78,419 shares of the financial services provider’s stock valued at $24,306,000 after acquiring an additional 25,413 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Jones Lang LaSalle by 279.6% in the 1st quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider’s stock valued at $130,683,000 after acquiring an additional 316,299 shares during the last quarter. Ranger Investment Management L.P. bought a new position in shares of Jones Lang LaSalle during the 2nd quarter valued at about $21,780,000. Finally, Lazard Asset Management LLC boosted its position in shares of Jones Lang LaSalle by 36.3% during the 1st quarter. Lazard Asset Management LLC now owns 11,087 shares of the financial services provider’s stock valued at $3,374,000 after purchasing an additional 2,955 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated, commonly known as JLL, is a global commercial real estate services and investment management company. It advises businesses, property owners, investors and public-sector organizations on real estate decisions and operations. Its services include leasing and sales, property and facilities management, project and development management, valuation, workplace consulting and capital markets advisory. Through LaSalle Investment Management, JLL also manages real estate investments for institutional and other clients.