Jones Lang LaSalle (NYSE:JLL) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Jones Lang LaSalle (NYSE:JLL) from a strong-buy rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

Other analysts have also issued reports about the stock. Citigroup restated a “market perform” rating on shares of Jones Lang LaSalle in a research note on Thursday, September 17th. Weiss Ratings raised shares of Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 18th. Barclays upped their target price on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Zacks Research cut shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $500.00 price target on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $427.60.

Jones Lang LaSalle Trading Up 5.5%

NYSE JLL opened at $379.52 on Friday. Jones Lang LaSalle has a 12 month low of $259.83 and a 12 month high of $393.84. The company has a current ratio of 2.43, a quick ratio of 2.40 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $331.23 and its 200-day moving average price is $324.68. The stock has a market cap of $17.39 billion, a P/E ratio of 16.42 and a beta of 1.30.

Jones Lang LaSalle (NYSE:JLL) last posted its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.15 by $0.61. The firm had revenue of $7.28 billion during the quarter, compared to analyst estimates of $7.24 billion. Jones Lang LaSalle had a return on equity of 15.05% and a net margin of 3.89%. Jones Lang LaSalle’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.50 EPS. As a group, equities analysts forecast that Jones Lang LaSalle will post 25.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Christian Ulbrich sold 2,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the completion of the sale, the chief executive officer owned 138,418 shares in the company, valued at approximately $53,364,291.54. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,000 shares of company stock worth $2,271,060 in the last three months. 0.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Jones Lang LaSalle

Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Jones Lang LaSalle in the 2nd quarter worth approximately $1,446,414,000. Artemis Investment Management LLP grew its position in Jones Lang LaSalle by 23.2% during the third quarter. Artemis Investment Management LLP now owns 460,389 shares of the financial services provider’s stock valued at $140,658,000 after buying an additional 86,563 shares during the period. Principal Financial Group Inc. grew its position in Jones Lang LaSalle by 279.6% during the first quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider’s stock valued at $130,683,000 after buying an additional 316,299 shares during the period. Bank of America Corp DE increased its holdings in Jones Lang LaSalle by 1.3% during the first quarter. Bank of America Corp DE now owns 303,446 shares of the financial services provider’s stock valued at $92,345,000 after buying an additional 3,985 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Jones Lang LaSalle during the second quarter valued at approximately $87,669,000. 94.80% of the stock is currently owned by institutional investors.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated, doing business as JLL, is a global commercial real estate services and investment management company. It serves property owners, occupiers, investors and developers across a broad range of real estate sectors, including office, industrial, retail, residential, hospitality and specialized properties.

JLL’s services include leasing, capital markets and investment sales, property and facilities management, project and development management, valuation and advisory services, workplace strategy, sustainability consulting and real estate technology solutions.