Jones Lang LaSalle (NYSE:JLL) Hits New 12-Month High – Here’s Why

Shares of Jones Lang LaSalle Incorporated (NYSE:JLL) reached a new 52-week high on Thursday . The company traded as high as $393.84 and last traded at $389.8620, with a volume of 429224 shares traded. The stock had previously closed at $371.03.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Jones Lang LaSalle from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Barclays raised their price target on Jones Lang LaSalle from $368.00 to $401.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. Raymond James Financial reiterated a “strong-buy” rating and set a $500.00 target price on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Finally, Zacks Research lowered shares of Jones Lang LaSalle from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and an average price target of $423.33.

Jones Lang LaSalle Stock Up 0.9%

The firm has a 50 day moving average of $335.69 and a 200-day moving average of $319.18. The stock has a market capitalization of $17.84 billion, a P/E ratio of 18.58 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.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data 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. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The firm had revenue of $6.93 billion during the quarter, compared to analysts’ expectations of $6.88 billion. During the same period in the previous year, the business posted $3.30 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that Jones Lang LaSalle Incorporated will post 24.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christian Ulbrich sold 2,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $295.14, for a total transaction of $118,941.42. Following the transaction, the director owned 4,771 shares of the company’s stock, valued at $1,408,112.94. This represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,805 shares of company stock valued at $2,511,297 over the last quarter. 0.91% of the stock is owned by corporate insiders.

Institutional Trading of Jones Lang LaSalle

Hedge funds have recently bought and sold shares of the company. Moran Wealth Management LLC purchased a new position in shares of Jones Lang LaSalle in the 1st quarter worth $4,405,000. Geode Capital Management LLC lifted its position in Jones Lang LaSalle by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider’s stock worth $333,451,000 after acquiring an additional 15,995 shares during the period. Jackson Creek Investment Advisors LLC acquired a new stake in Jones Lang LaSalle during the fourth quarter worth about $1,507,000. Thrivent Financial for Lutherans boosted its position in Jones Lang LaSalle by 78.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 28,895 shares of the financial services provider’s stock worth $9,723,000 after purchasing an additional 12,699 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Jones Lang LaSalle by 279.6% during the 1st quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider’s stock worth $130,683,000 after purchasing an additional 316,299 shares during the last quarter. Hedge funds and other institutional investors 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.