Twinbeech Capital LP Cuts Stock Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Twinbeech Capital LP cut its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 63.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 827 shares of the financial services provider’s stock after selling 1,422 shares during the quarter. Twinbeech Capital LP’s holdings in Jones Lang LaSalle were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. EdgePoint Investment Group Inc. increased its position in shares of Jones Lang LaSalle by 5.7% in the fourth quarter. EdgePoint Investment Group Inc. now owns 1,639,526 shares of the financial services provider’s stock valued at $415,030,000 after buying an additional 88,479 shares in the last quarter. Invesco Ltd. increased its position in shares of Jones Lang LaSalle by 0.9% during the fourth quarter. Invesco Ltd. now owns 944,623 shares of the financial services provider’s stock worth $239,122,000 after purchasing an additional 8,274 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Jones Lang LaSalle by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 934,958 shares of the financial services provider’s stock worth $240,190,000 after purchasing an additional 41,331 shares in the last quarter. Norges Bank purchased a new stake in shares of Jones Lang LaSalle during the fourth quarter worth approximately $149,468,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Jones Lang LaSalle by 13.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 542,675 shares of the financial services provider’s stock worth $137,373,000 after purchasing an additional 65,407 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JLL has been the subject of several research reports. Raymond James boosted their price target on Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 24th. UBS Group dropped their price target on Jones Lang LaSalle from $340.00 to $305.00 and set a “buy” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on Jones Lang LaSalle from $327.00 to $285.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Wall Street Zen cut Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods dropped their target price on Jones Lang LaSalle from $325.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $315.83.

Jones Lang LaSalle Stock Up 0.4%

Shares of NYSE:JLL opened at $215.79 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $229.27 and a two-hundred day moving average of $252.95. The stock has a market cap of $10.24 billion, a P/E ratio of 19.11 and a beta of 1.33. Jones Lang LaSalle Incorporated has a 52-week low of $192.94 and a 52-week high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.02 by $0.29. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.