Westpac Banking Corp Makes New Investment in Jones Lang LaSalle Incorporated $JLL

Westpac Banking Corp purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,942 shares of the financial services provider’s stock, valued at approximately $895,000.

Several other hedge funds have also recently modified their holdings of the business. Sunbelt Securities Inc. bought a new position in Jones Lang LaSalle in the third quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in Jones Lang LaSalle during the 4th quarter valued at $29,000. Activest Wealth Management increased its holdings in shares of Jones Lang LaSalle by 1,720.0% in the 4th quarter. Activest Wealth Management now owns 91 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 86 shares during the period. Hilton Head Capital Partners LLC purchased a new position in shares of Jones Lang LaSalle in the 4th quarter valued at $35,000. Finally, Bayforest Capital Ltd bought a new position in shares of Jones Lang LaSalle in the 4th quarter worth $55,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Insider Buying and Selling at Jones Lang LaSalle

In other news, Director Larry Quinlan sold 403 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $295.14, for a total value of $118,941.42. Following the transaction, the director directly owned 4,771 shares of the company’s stock, valued at approximately $1,408,112.94. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Trading Down 0.1%

NYSE:JLL opened at $324.07 on Thursday. Jones Lang LaSalle Incorporated has a 12 month low of $258.19 and a 12 month high of $363.06. The firm has a fifty day simple moving average of $305.54 and a 200-day simple moving average of $317.48. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $15.03 billion, a P/E ratio of 17.42 and a beta of 1.27.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.42. The firm had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $6 billion. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. On average, equities research analysts anticipate that Jones Lang LaSalle Incorporated will post 22.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JLL. Barclays raised their price objective on Jones Lang LaSalle from $348.00 to $366.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Zacks Research raised shares of Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 24th. Finally, UBS Group boosted their price objective on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $394.00.

Jones Lang LaSalle Profile

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.