Jones Lang LaSalle (NYSE:JLL) Hits New 52-Week High – Should You Buy?

Shares of Jones Lang LaSalle Incorporated (NYSE:JLL) hit a new 52-week high on Tuesday . The company traded as high as $327.24 and last traded at $326.8040, with a volume of 61354 shares. The stock had previously closed at $318.45.

Analyst Upgrades and Downgrades

A number of research firms have commented on JLL. UBS Group raised their target price on Jones Lang LaSalle from $340.00 to $360.00 and gave the company a “buy” rating in a report on Friday, October 10th. Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods lifted their price target on shares of Jones Lang LaSalle from $317.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. upped their price target on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Jones Lang LaSalle in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Jones Lang LaSalle has a consensus rating of “Moderate Buy” and an average price target of $340.67.

Jones Lang LaSalle Trading Down 0.1%

The business has a 50 day moving average of $303.10 and a 200-day moving average of $277.30. The stock has a market cap of $15.59 billion, a PE ratio of 28.40 and a beta of 1.46. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.26. The company had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.49 billion. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.50 earnings per share. On average, analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Insider Activity

In other news, CEO Christian Ulbrich sold 5,000 shares of Jones Lang LaSalle stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $330.33, for a total transaction of $1,651,650.00. Following the completion of the sale, the chief executive officer directly owned 139,685 shares in the company, valued at $46,142,146.05. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EdgePoint Investment Group Inc. grew its position in shares of Jones Lang LaSalle by 21.0% in the second quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock valued at $568,222,000 after purchasing an additional 386,184 shares during the period. Select Equity Group L.P. grew its holdings in Jones Lang LaSalle by 50.7% in the 1st 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 buying an additional 357,469 shares during the period. Swedbank AB lifted its holdings in shares of Jones Lang LaSalle by 5.4% during the 3rd quarter. Swedbank AB now owns 989,199 shares of the financial services provider’s stock worth $295,058,000 after acquiring an additional 51,050 shares during the period. Invesco Ltd. boosted its position in shares of Jones Lang LaSalle by 1.8% in the first 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 during the last quarter. Finally, Norges Bank acquired a new position in Jones Lang LaSalle during the second quarter worth approximately $160,187,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

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.