Short Interest in Jones Lang LaSalle Incorporated (NYSE:JLL) Declines By 13.5%

Jones Lang LaSalle Incorporated (NYSE:JLL) saw a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 740,967 shares, a decline of 13.5% from the February 12th total of 856,115 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily volume of 704,739 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 704,739 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.6% of the shares of the company are short sold.

Jones Lang LaSalle Price Performance

Shares of JLL stock traded up $1.50 during midday trading on Wednesday, reaching $304.50. 221,701 shares of the company traded hands, compared to its average volume of 553,066. The firm has a market cap of $14.27 billion, a PE ratio of 18.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.23 and a quick ratio of 2.23. The firm’s 50 day simple moving average is $326.24 and its two-hundred day simple moving average is $318.32. Jones Lang LaSalle has a 1-year low of $194.36 and a 1-year high of $363.06.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share for the quarter, beating the consensus estimate of $7.25 by $1.46. The firm had revenue of $7.61 billion during the quarter, compared to the consensus estimate of $7.45 billion. Jones Lang LaSalle had a return on equity of 12.50% and a net margin of 3.03%.Jones Lang LaSalle’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $6.15 EPS. On average, equities research analysts expect that Jones Lang LaSalle will post 16.45 EPS for the current fiscal year.

Insider Buying and Selling at Jones Lang LaSalle

In other news, Director Deborah H. Mcaneny sold 2,500 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the sale, the director owned 14,985 shares in the company, valued at approximately $4,502,992.50. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Jones Lang LaSalle

Several hedge funds have recently added to or reduced their stakes in JLL. M&T Bank Corp increased its stake in shares of Jones Lang LaSalle by 184,969.0% during the 4th quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider’s stock worth $1,300,201,000 after purchasing an additional 3,862,153 shares in the last quarter. AQR Capital Management LLC grew its holdings in Jones Lang LaSalle by 426.7% during the 4th quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock valued at $302,697,000 after buying an additional 728,824 shares during the last quarter. Norges Bank purchased a new position in Jones Lang LaSalle during the second quarter worth $160,187,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Jones Lang LaSalle in the fourth quarter worth $132,263,000. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Jones Lang LaSalle by 21.0% in the second quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock valued at $568,222,000 after acquiring an additional 386,184 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. UBS Group upped their price objective on shares of Jones Lang LaSalle from $410.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. The Goldman Sachs Group lifted their target price on shares of Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Barclays reduced their price objective on shares of Jones Lang LaSalle from $360.00 to $355.00 and set an “equal weight” rating for the company in a research report on Friday, March 13th. Finally, Keefe, Bruyette & Woods cut their target price on Jones Lang LaSalle from $405.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $363.17.

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.