Greenland Capital Management LP Purchases New Position in Jones Lang LaSalle Incorporated $JLL

Greenland Capital Management LP acquired a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL) in the second quarter, HoldingsChannel reports. The institutional investor acquired 25,981 shares of the financial services provider’s stock, valued at approximately $6,645,000.

A number of other hedge funds have also recently bought and sold shares of the business. EdgePoint Investment Group Inc. raised its position in shares of Jones Lang LaSalle by 11.9% in the 1st quarter. EdgePoint Investment Group Inc. now owns 1,835,344 shares of the financial services provider’s stock valued at $455,000,000 after purchasing an additional 195,818 shares in the last quarter. Select Equity Group L.P. raised its holdings in Jones Lang LaSalle by 50.7% in the first quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider’s stock valued at $263,298,000 after acquiring an additional 357,469 shares in the last quarter. Invesco Ltd. grew its holdings in Jones Lang LaSalle by 1.8% during the 1st quarter. Invesco Ltd. now owns 961,959 shares of the financial services provider’s stock worth $238,479,000 after acquiring an additional 17,336 shares in the last quarter. Swedbank AB increased its position in shares of Jones Lang LaSalle by 115.0% in the 2nd quarter. Swedbank AB now owns 938,149 shares of the financial services provider’s stock worth $239,960,000 after purchasing an additional 501,716 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Jones Lang LaSalle by 21.6% in the 1st quarter. Northern Trust Corp now owns 548,227 shares of the financial services provider’s stock valued at $135,911,000 after purchasing an additional 97,492 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on JLL. JPMorgan Chase & Co. boosted their price objective on Jones Lang LaSalle from $285.00 to $372.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. UBS Group boosted their price target on Jones Lang LaSalle from $340.00 to $360.00 and gave the company a “buy” rating in a report on Friday, October 10th. Keefe, Bruyette & Woods upped their price target on Jones Lang LaSalle from $317.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jones Lang LaSalle in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Jones Lang LaSalle has a consensus rating of “Moderate Buy” and an average price target of $338.29.

Jones Lang LaSalle Price Performance

NYSE JLL opened at $297.23 on Wednesday. The firm has a market capitalization of $14.03 billion, a PE ratio of 25.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.35 and a quick ratio of 2.35. Jones Lang LaSalle Incorporated has a 12 month low of $194.36 and a 12 month high of $322.36. The company’s 50 day simple moving average is $302.61 and its 200 day simple moving average is $273.96.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.26. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same period last year, the company posted $3.50 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.