Jones Lang LaSalle (NYSE:JLL) Hits New 12-Month High – Still a Buy?

Jones Lang LaSalle Incorporated (NYSE:JLL)’s stock price hit a new 52-week high on Friday . The stock traded as high as $375.71 and last traded at $374.3940, with a volume of 339794 shares traded. The stock had previously closed at $369.52.

Wall Street Analyst Weigh In

JLL has been the topic of several analyst reports. Zacks Research lowered Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Raymond James Financial restated a “strong-buy” rating and issued a $500.00 price target on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. UBS Group increased their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings cut Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $417.83.

Jones Lang LaSalle Stock Performance

The company has a market cap of $17.23 billion, a price-to-earnings ratio of 17.94 and a beta of 1.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.40 and a quick ratio of 2.40. The firm has a 50 day simple moving average of $326.00 and a 200-day simple moving average of $317.97.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, topping analysts’ consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The company had revenue of $6.93 billion for the quarter, compared to analysts’ expectations of $6.88 billion. During the same period in the prior year, the firm earned $3.30 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current fiscal year.

Insider Transactions at Jones Lang LaSalle

In other news, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction on Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the completion of the sale, the director directly owned 4,771 shares of the company’s stock, valued at approximately $1,408,112.94. The trade was a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in Jones Lang LaSalle by 15.8% in the 4th quarter. Assetmark Inc. now owns 220 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 30 shares during the period. Hilton Head Capital Partners LLC increased its position in shares of Jones Lang LaSalle by 40.4% in the first quarter. Hilton Head Capital Partners LLC now owns 146 shares of the financial services provider’s stock valued at $44,000 after buying an additional 42 shares in the last quarter. UMB Bank n.a. raised its position in Jones Lang LaSalle by 10.6% during the fourth quarter. UMB Bank n.a. now owns 490 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 47 shares during the last quarter. Ballentine Partners LLC increased its position in Jones Lang LaSalle by 5.3% during the fourth quarter. Ballentine Partners LLC now owns 951 shares of the financial services provider’s stock worth $320,000 after buying an additional 48 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of Jones Lang LaSalle by 27.4% during the 1st quarter. Root Financial Partners LLC now owns 223 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 94.80% of the company’s stock.

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.