Teacher Retirement System of Texas Sells 6,111 Shares of Jones Lang LaSalle Incorporated $JLL

Teacher Retirement System of Texas decreased its stake in Jones Lang LaSalle Incorporated (NYSE:JLL) by 16.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,490 shares of the financial services provider’s stock after selling 6,111 shares during the period. Teacher Retirement System of Texas’ holdings in Jones Lang LaSalle were worth $9,393,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of JLL. Chilton Capital Management LLC purchased a new stake in shares of Jones Lang LaSalle during the 2nd quarter worth approximately $26,000. Caldwell Trust Co bought a new position in Jones Lang LaSalle during the second quarter valued at $38,000. Quent Capital LLC purchased a new stake in Jones Lang LaSalle in the third quarter worth $41,000. Root Financial Partners LLC bought a new stake in shares of Jones Lang LaSalle in the third quarter valued at $44,000. Finally, Steph & Co. purchased a new position in shares of Jones Lang LaSalle during the 3rd quarter valued at $50,000. 94.80% of the stock is owned by institutional investors.

Jones Lang LaSalle Stock Down 0.6%

Shares of NYSE:JLL opened at $354.11 on Monday. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 27.16 and a beta of 1.42. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $360.46. The firm has a fifty day moving average price of $335.24 and a two-hundred day moving average price of $307.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.31.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.26. Jones Lang LaSalle had a return on equity of 11.10% and a net margin of 2.49%.The company had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same quarter last year, the company earned $3.50 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JLL. Weiss Ratings restated a “hold (c+)” rating on shares of Jones Lang LaSalle in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research report on Wednesday, November 26th. Keefe, Bruyette & Woods raised their price objective on shares of Jones Lang LaSalle from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. UBS Group lifted their price objective on shares of Jones Lang LaSalle from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Finally, Barclays started coverage on Jones Lang LaSalle in a research report on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Jones Lang LaSalle presently has an average rating of “Hold” and a consensus price target of $355.83.

Insider Activity at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $330.33, for a total value of $1,651,650.00. Following the transaction, the chief executive officer directly owned 134,685 shares in the company, valued at approximately $44,490,496.05. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 20,000 shares of company stock worth $6,609,091 over the last ninety days. 0.91% of the stock is currently owned by insiders.

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.