Jones Lang LaSalle (NYSE:JLL) Sets New 1-Year High – Here’s What Happened

Shares of Jones Lang LaSalle Incorporated (NYSE:JLL) hit a new 52-week high during trading on Thursday . The company traded as high as $358.12 and last traded at $355.8440, with a volume of 431 shares traded. The stock had previously closed at $354.58.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on JLL shares. Keefe, Bruyette & Woods lifted their price target on Jones Lang LaSalle from $390.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. UBS Group boosted their target price on Jones Lang LaSalle from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. The Goldman Sachs Group increased their price target on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 11th. Finally, Barclays assumed coverage on shares of Jones Lang LaSalle in a research report on Tuesday, December 2nd. They issued an “equal weight” rating and a $351.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.71.

Jones Lang LaSalle Trading Up 1.0%

The business’s 50-day moving average price is $333.12 and its 200-day moving average price is $306.04. The firm has a market capitalization of $16.90 billion, a PE ratio of 27.39 and a beta of 1.42. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.31 and a quick ratio of 2.31.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.26. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.49 billion. Jones Lang LaSalle had a net margin of 2.49% and a return on equity of 11.10%. Jones Lang LaSalle’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 EPS. As a group, analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Christian Ulbrich sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $330.33, for a total value of $1,651,650.00. Following the transaction, the chief executive officer owned 134,685 shares in the company, valued at $44,490,496.05. The trade was a 3.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 20,000 shares of company stock worth $6,609,091 over the last 90 days. Company insiders own 0.91% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new position in shares of Jones Lang LaSalle during the 3rd quarter worth approximately $40,417,000. FJ Capital Management LLC increased its position in Jones Lang LaSalle by 38.5% during the second quarter. FJ Capital Management LLC now owns 22,352 shares of the financial services provider’s stock worth $5,717,000 after buying an additional 6,214 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Jones Lang LaSalle by 22.6% in the second quarter. Bank of Montreal Can now owns 9,547 shares of the financial services provider’s stock worth $2,442,000 after acquiring an additional 1,761 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Jones Lang LaSalle by 388.0% in the third quarter. Pacer Advisors Inc. now owns 8,653 shares of the financial services provider’s stock valued at $2,581,000 after acquiring an additional 6,880 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of Jones Lang LaSalle during the second quarter valued at $12,186,000. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Company 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.