Jones Lang LaSalle (NYSE:JLL) Sets New 1-Year High – Here’s What Happened

Jones Lang LaSalle Incorporated (NYSE:JLL) shares hit a new 52-week high on Friday . The company traded as high as $375.71 and last traded at $374.3940, with a volume of 339794 shares trading hands. The stock had previously closed at $369.52.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JLL. Barclays boosted their price objective on shares of Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their price objective on Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Raymond James Financial restated a “strong-buy” rating and issued a $500.00 target price on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. UBS Group increased their target price on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Zacks Research downgraded Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $417.83.

Jones Lang LaSalle Stock Performance

The firm has a market capitalization of $17.23 billion, a price-to-earnings ratio of 17.94 and a beta of 1.25. The company has a 50-day moving average price of $326.00 and a 200-day moving average price of $317.97. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, beating analysts’ consensus estimates of $4.56 by $0.70. The business had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.30 earnings per share. As a group, equities research analysts forecast that Jones Lang LaSalle Incorporated will post 24.18 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On Jones Lang LaSalle

Several hedge funds have recently made changes to their positions in JLL. BlackRock Inc. acquired a new stake in Jones Lang LaSalle during the second quarter valued at approximately $1,446,414,000. M&T Bank Corp lifted its position in shares of Jones Lang LaSalle by 184,969.0% in the 4th quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider’s stock valued at $1,300,201,000 after acquiring an additional 3,862,153 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Jones Lang LaSalle by 17.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,180,514 shares of the financial services provider’s stock worth $397,209,000 after purchasing an additional 178,677 shares during the period. Swedbank AB raised its stake in Jones Lang LaSalle by 0.5% during the 4th quarter. Swedbank AB now owns 993,742 shares of the financial services provider’s stock valued at $334,364,000 after purchasing an additional 4,543 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Jones Lang LaSalle by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider’s stock worth $333,451,000 after buying an additional 15,995 shares during the period. Institutional investors and hedge funds own 94.80% of the company’s stock.

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.