Jones Lang LaSalle (NYSE:JLL) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Jones Lang LaSalle (NYSE:JLL) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other brokerages also recently issued reports on JLL. UBS Group upped their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Barclays lifted their price objective on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings lowered shares of Jones Lang LaSalle from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Jones Lang LaSalle currently has a consensus rating of “Moderate Buy” and a consensus target price of $394.00.

Jones Lang LaSalle Stock Up 1.8%

JLL stock opened at $325.19 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35. The company’s 50 day simple moving average is $306.87 and its 200-day simple moving average is $317.42. Jones Lang LaSalle has a 12 month low of $258.19 and a 12 month high of $363.06. The firm has a market capitalization of $15.09 billion, a PE ratio of 17.48 and a beta of 1.27.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.42. The firm had revenue of $6.39 billion during the quarter, compared to the consensus estimate of $6 billion. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.31 EPS. Equities analysts expect that Jones Lang LaSalle will post 22.85 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Larry Quinlan sold 402 shares of Jones Lang LaSalle stock in a transaction on Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is owned by company insiders.

Institutional Trading of Jones Lang LaSalle

Hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp boosted its position in shares of Jones Lang LaSalle by 184,969.0% in the fourth quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider’s stock worth $1,300,201,000 after acquiring an additional 3,862,153 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Jones Lang LaSalle by 17.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,180,514 shares of the financial services provider’s stock worth $397,209,000 after purchasing an additional 178,677 shares during the last quarter. Swedbank AB raised its stake in Jones Lang LaSalle by 0.5% during the fourth quarter. Swedbank AB now owns 993,742 shares of the financial services provider’s stock worth $334,364,000 after purchasing an additional 4,543 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Jones Lang LaSalle by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider’s stock valued at $333,451,000 after purchasing an additional 15,995 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of 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 period. 94.80% of the stock is owned by institutional investors and hedge funds.

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.