Jones Lang LaSalle (NYSE:JLL) Reaches New 12-Month High – Here’s What Happened

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on JLL shares. Barclays raised their price objective on Jones Lang LaSalle from $366.00 to $368.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 28th. Raymond James Financial reiterated a “strong-buy” rating and set a $500.00 target price on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Weiss Ratings cut Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Zacks Research downgraded Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Jones Lang LaSalle has an average rating of “Moderate Buy” and an average target price of $417.83.

Jones Lang LaSalle Trading Up 1.3%

The business has a 50 day moving average of $327.57 and a 200-day moving average of $318.36. The stock has a market cap of $17.23 billion, a PE ratio of 17.94 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The company had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $6.88 billion. During the same quarter last year, the business posted $3.30 earnings per share. Jones Lang LaSalle’s revenue was up 10.8% compared to the same quarter last year. On average, analysts anticipate that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current year.

Insider Buying and Selling

In related news, Director Larry Quinlan sold 402 shares of Jones Lang LaSalle stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $301.73, for a total transaction of $121,295.46. Following the completion of the sale, the director owned 4,369 shares in the company, valued at approximately $1,318,258.37. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently modified their holdings of JLL. Man Group plc acquired a new position in shares of Jones Lang LaSalle in the second quarter valued at approximately $10,955,000. Jupiter Topco LLC acquired a new stake in Jones Lang LaSalle during the second quarter worth approximately $27,139,000. Hsbc Holdings PLC purchased a new stake in Jones Lang LaSalle in the 2nd quarter worth approximately $1,592,000. Cooper Haims Advisors LLC acquired a new position in Jones Lang LaSalle in the 2nd quarter valued at $212,000. Finally, Canada Pension Plan Investment Board acquired a new position in Jones Lang LaSalle in the 2nd quarter valued at $21,244,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

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.