Vulcan Value Partners LLC Cuts Holdings in Jones Lang LaSalle Incorporated $JLL

Vulcan Value Partners LLC cut its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 12.1% during the second quarter, Holdings Channel.com reports. The fund owned 96,258 shares of the financial services provider’s stock after selling 13,291 shares during the period. Jones Lang LaSalle comprises approximately 0.9% of Vulcan Value Partners LLC’s holdings, making the stock its 20th biggest position. Vulcan Value Partners LLC’s holdings in Jones Lang LaSalle were worth $29,835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Jones Lang LaSalle in the first quarter valued at approximately $546,000. Empowered Funds LLC lifted its position in shares of Jones Lang LaSalle by 203.1% during the 1st quarter. Empowered Funds LLC now owns 4,046 shares of the financial services provider’s stock valued at $1,003,000 after buying an additional 2,711 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Jones Lang LaSalle by 33.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 499 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 126 shares in the last quarter. Cresset Asset Management LLC raised its position in Jones Lang LaSalle by 28.4% during the second quarter. Cresset Asset Management LLC now owns 1,673 shares of the financial services provider’s stock worth $428,000 after acquiring an additional 370 shares during the period. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Jones Lang LaSalle in the second quarter valued at about $211,000. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Insider Buying and Selling at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 2,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the sale, the chief executive officer owned 138,418 shares of the company’s stock, valued at $53,364,291.54. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 402 shares of Jones Lang LaSalle stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $301.73, for a total value of $121,295.46. Following the completion of the transaction, the director owned 4,369 shares of the company’s stock, valued at $1,318,258.37. The trade was a 8.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,402 shares of company stock worth $2,392,355. Insiders own 0.91% of the company’s stock.

Jones Lang LaSalle Trading Down 2.8%

Jones Lang LaSalle stock traded down $10.29 during midday trading on Tuesday, reaching $352.07. 216,466 shares of the stock traded hands, compared to its average volume of 437,880. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The firm has a market cap of $16.20 billion, a PE ratio of 16.87 and a beta of 1.24. The company has a 50-day simple moving average of $350.95 and a two-hundred day simple moving average of $323.17. Jones Lang LaSalle Incorporated has a 12-month low of $259.83 and a 12-month high of $393.84.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, topping the consensus estimate of $4.56 by $0.70. The firm had revenue of $6.93 billion for the quarter, compared to the consensus estimate of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.30 EPS. Research analysts expect that Jones Lang LaSalle Incorporated will post 25.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JLL shares. Zacks Research lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their target price on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Raymond James Financial reaffirmed a “strong-buy” rating and set a $500.00 target price on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Barclays raised their price target on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an “equal weight” rating in a research note on Monday, August 17th. Finally, Weiss Ratings raised shares of Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $433.60.

About Jones Lang LaSalle

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.