Harbor Capital Advisors Inc. Cuts Position in Jones Lang LaSalle Incorporated $JLL

Harbor Capital Advisors Inc. cut its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 86.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,678 shares of the financial services provider’s stock after selling 28,806 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Jones Lang LaSalle were worth $1,395,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Jones Lang LaSalle in the 2nd quarter worth about $160,187,000. Swedbank AB increased its stake in Jones Lang LaSalle by 115.0% during the second quarter. Swedbank AB now owns 938,149 shares of the financial services provider’s stock worth $239,960,000 after acquiring an additional 501,716 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in shares of Jones Lang LaSalle by 21.0% in the 2nd 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 last quarter. Select Equity Group L.P. boosted its holdings in shares of 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 worth $263,298,000 after purchasing an additional 357,469 shares during the period. Finally, Long Pond Capital LP purchased a new stake in Jones Lang LaSalle during the 2nd quarter valued at $51,370,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Jones Lang LaSalle from $317.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. UBS Group raised their price target on Jones Lang LaSalle from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. 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 for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Jones Lang LaSalle in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted 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 note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $342.14.

Jones Lang LaSalle Stock Performance

JLL stock opened at $347.18 on Friday. The firm has a 50-day simple moving average of $318.24 and a two-hundred day simple moving average of $293.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.31 and a current ratio of 2.31. Jones Lang LaSalle Incorporated has a one year low of $194.36 and a one year high of $347.52. The firm has a market cap of $16.38 billion, a price-to-earnings ratio of 26.62 and a beta of 1.44.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $4.50 EPS for the quarter, beating the consensus estimate of $4.24 by $0.26. Jones Lang LaSalle had a net margin of 2.49% and a return on equity of 11.10%. 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 firm posted $3.50 EPS. Jones Lang LaSalle’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts forecast that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Insider Activity

In other news, CEO Christian Ulbrich sold 96 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $332.18, for a total transaction of $31,889.28. Following the completion of the sale, the chief executive officer owned 114,685 shares of the company’s stock, valued at $38,096,063.30. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 20,000 shares of company stock valued at $6,609,091 in the last quarter. 0.91% of the stock is owned by company insiders.

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.