Reinhart Partners Inc. Invests $22.04 Million in Jones Lang LaSalle Inc (NYSE:JLL)

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Reinhart Partners Inc. bought a new position in Jones Lang LaSalle Inc (NYSE:JLL) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 158,499 shares of the financial services provider’s stock, valued at approximately $22,041,000. Jones Lang LaSalle comprises about 2.0% of Reinhart Partners Inc.’s investment portfolio, making the stock its 20th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Jones Lang LaSalle in the second quarter worth about $25,000. Cullen Frost Bankers Inc. increased its holdings in shares of Jones Lang LaSalle by 9,100.0% in the second quarter. Cullen Frost Bankers Inc. now owns 184 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 182 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Jones Lang LaSalle in the third quarter worth about $27,000. Advisory Services Network LLC increased its holdings in shares of Jones Lang LaSalle by 268.5% in the second quarter. Advisory Services Network LLC now owns 199 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 145 shares during the last quarter. Finally, Smithfield Trust Co. bought a new stake in shares of Jones Lang LaSalle in the third quarter worth about $36,000. 82.72% of the stock is currently owned by hedge funds and other institutional investors.

NYSE JLL traded down $0.24 during trading hours on Friday, hitting $161.64. 318,545 shares of the company were exchanged, compared to its average volume of 330,327. The stock has a 50-day moving average price of $142.47 and a 200 day moving average price of $139.43. The company has a quick ratio of 1.95, a current ratio of 2.05 and a debt-to-equity ratio of 0.49. Jones Lang LaSalle Inc has a 52 week low of $119.79 and a 52 week high of $173.32. The stock has a market cap of $8.33 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.48 and a beta of 1.74.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.73 by $0.79. Jones Lang LaSalle had a return on equity of 15.64% and a net margin of 2.64%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the firm posted $3.02 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Jones Lang LaSalle Inc will post 12.53 earnings per share for the current year.

Jones Lang LaSalle announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.43 per share. This is a boost from Jones Lang LaSalle’s previous quarterly dividend of $0.41. This represents a $1.72 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, November 14th. Jones Lang LaSalle’s payout ratio is presently 7.02%.

Several equities research analysts have recently issued reports on the company. UBS Group lifted their target price on Jones Lang LaSalle from $178.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Barclays set a $179.00 price objective on Jones Lang LaSalle and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. assumed coverage on Jones Lang LaSalle in a research note on Wednesday, July 17th. They set an “overweight” rating and a $140.23 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Jones Lang LaSalle presently has an average rating of “Hold” and a consensus price target of $174.47.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.

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Institutional Ownership by Quarter for Jones Lang LaSalle (NYSE:JLL)

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