Texas Permanent School Fund Cuts Stake in Jones Lang LaSalle Incorporated (JLL)
Texas Permanent School Fund cut its position in Jones Lang LaSalle Incorporated (NYSE:JLL) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 34,417 shares of the company’s stock after selling 80 shares during the period. Texas Permanent School Fund owned approximately 0.08% of Jones Lang LaSalle worth $3,916,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Generation Investment Management LLP boosted its position in Jones Lang LaSalle by 87.3% in the second quarter. Generation Investment Management LLP now owns 2,212,726 shares of the company’s stock worth $215,630,000 after buying an additional 1,031,500 shares in the last quarter. Harris Associates L P boosted its position in Jones Lang LaSalle by 81.0% in the second quarter. Harris Associates L P now owns 1,334,805 shares of the company’s stock worth $130,076,000 after buying an additional 597,310 shares in the last quarter. Vulcan Value Partners LLC bought a new position in Jones Lang LaSalle during the second quarter worth approximately $54,020,000. Atlanta Capital Management Co. L L C boosted its position in Jones Lang LaSalle by 50.3% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,167,777 shares of the company’s stock worth $113,800,000 after buying an additional 390,947 shares in the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. bought a new position in Jones Lang LaSalle during the second quarter worth approximately $32,969,000. 88.59% of the stock is owned by institutional investors and hedge funds.
Shares of Jones Lang LaSalle Incorporated (NYSE:JLL) opened at 106.78 on Friday. The company’s 50-day moving average is $102.91 and its 200-day moving average is $105.96. Jones Lang LaSalle Incorporated has a 12-month low of $86.62 and a 12-month high of $142.06. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 13.95 and a beta of 1.81.
Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Wednesday, November 2nd. The company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by $0.57. Jones Lang LaSalle had a return on equity of 14.19% and a net margin of 5.34%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business posted $2.56 EPS. Jones Lang LaSalle’s revenue was up 13.6% on a year-over-year basis. Analysts predict that Jones Lang LaSalle Incorporated will post $8.25 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $1.32 annualized dividend and a dividend yield of 1.24%. This is a boost from Jones Lang LaSalle’s previous quarterly dividend of $0.11. Jones Lang LaSalle’s dividend payout ratio (DPR) is presently 8.63%.
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A number of equities analysts have commented on JLL shares. Wedbush started coverage on shares of Jones Lang LaSalle in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $126.00 price target for the company. JMP Securities reaffirmed a “buy” rating on shares of Jones Lang LaSalle in a research note on Thursday, November 3rd. Keefe, Bruyette & Woods cut shares of Jones Lang LaSalle from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $115.00 to $110.00 in a research note on Tuesday, December 13th. TheStreet cut shares of Jones Lang LaSalle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Finally, Zacks Investment Research raised shares of Jones Lang LaSalle from a “strong sell” rating to a “hold” rating in a research note on Monday, December 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $127.25.
Jones Lang LaSalle Company Profile
Jones Lang LaSalle Incorporated (JLL) is a financial and professional services firm specializing in real estate. The Company operates through four business segments: Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and LaSalle. JLL provides real estate services (RES) through three business segments: the Americas, EMEA and Asia Pacific.
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