EdgePoint Investment Group Inc. Cuts Stake in Jones Lang LaSalle Incorporated $JLL

EdgePoint Investment Group Inc. cut its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 9.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,905,011 shares of the financial services provider’s stock after selling 204,549 shares during the period. Jones Lang LaSalle makes up about 4.6% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 10th largest holding. EdgePoint Investment Group Inc.’s holdings in Jones Lang LaSalle were worth $579,733,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new stake in Jones Lang LaSalle during the 3rd quarter valued at $25,000. International Assets Investment Management LLC bought a new position in shares of Jones Lang LaSalle in the fourth quarter worth $29,000. Activest Wealth Management increased its holdings in shares of Jones Lang LaSalle by 1,720.0% during the fourth quarter. Activest Wealth Management now owns 91 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 86 shares during the period. Hilton Head Capital Partners LLC bought a new stake in shares of Jones Lang LaSalle during the fourth quarter valued at about $35,000. Finally, Bayforest Capital Ltd acquired a new stake in Jones Lang LaSalle in the fourth quarter worth about $55,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Jones Lang LaSalle Stock Performance

NYSE:JLL opened at $333.42 on Tuesday. The company has a 50-day moving average of $307.76 and a 200-day moving average of $317.07. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 17.93 and a beta of 1.27. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15. Jones Lang LaSalle Incorporated has a twelve month low of $259.83 and a twelve month high of $363.06.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Thursday, April 30th. The financial services provider reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.42. The business had revenue of $6.39 billion for the quarter, compared to the consensus estimate of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 EPS. Analysts forecast that Jones Lang LaSalle Incorporated will post 22.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on JLL shares. Weiss Ratings cut shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Barclays increased their price objective on shares of Jones Lang LaSalle from $348.00 to $366.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. UBS Group boosted 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 lowered Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Jones Lang LaSalle presently has a consensus rating of “Moderate Buy” and a consensus price target of $394.00.

Insider Activity

In other news, Director Larry Quinlan sold 403 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $295.14, for a total transaction of $118,941.42. Following the completion of the sale, the director owned 4,771 shares in the company, valued at approximately $1,408,112.94. This represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.

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.