Strs Ohio Invests $26.62 Million in Jones Lang LaSalle Incorporated $JLL

Key Points

• Strs Ohio acquired 107,360 shares of Jones Lang LaSalle Incorporated (NYSE:JLL) worth approximately $26.6 million, increasing its ownership to 0.23% of the company.
• Jones Lang LaSalle reported strong earnings, with an EPS of $3.30, surpassing analysts' expectations of $3.20, and revenues of $6.25 billion, marking an 11% year-over-year increase.
• Institutional investors currently own 94.8% of Jones Lang LaSalle's stock, with several hedge funds increasing their holdings significantly in the first quarter.

Strs Ohio acquired a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 107,360 shares of the financial services provider's stock, valued at approximately $26,616,000. Strs Ohio owned about 0.23% of Jones Lang LaSalle as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norden Group LLC acquired a new position in Jones Lang LaSalle in the 1st quarter valued at approximately $287,000. PNC Financial Services Group Inc. raised its holdings in Jones Lang LaSalle by 11.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,605 shares of the financial services provider's stock valued at $646,000 after acquiring an additional 262 shares in the last quarter. Bridges Investment Management Inc. raised its holdings in Jones Lang LaSalle by 120.0% in the 1st quarter. Bridges Investment Management Inc. now owns 4,447 shares of the financial services provider's stock valued at $1,102,000 after acquiring an additional 2,426 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Jones Lang LaSalle in the 1st quarter valued at approximately $8,164,000. Finally, Janney Montgomery Scott LLC raised its holdings in Jones Lang LaSalle by 34.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,779 shares of the financial services provider's stock valued at $2,176,000 after acquiring an additional 2,252 shares in the last quarter. Institutional investors and hedge funds own 94.80% of the company's stock.

Jones Lang LaSalle Trading Up 1.3%

JLL traded up $4.00 during mid-day trading on Thursday, reaching $320.98. The stock had a trading volume of 99,204 shares, compared to its average volume of 406,275. The firm's fifty day simple moving average is $285.53 and its two-hundred day simple moving average is $253.14. The stock has a market capitalization of $15.21 billion, a P/E ratio of 27.59 and a beta of 1.41. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $322.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.35 and a current ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.10. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.17 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts predict that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Insider Activity

In other news, CEO Andrew W. Poppink sold 275 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $237.97, for a total transaction of $65,441.75. Following the transaction, the chief executive officer owned 10,297 shares of the company's stock, valued at $2,450,377.09. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

JLL has been the subject of several recent research reports. JMP Securities initiated coverage on Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating for the company. The Goldman Sachs Group upped their price target on Jones Lang LaSalle from $338.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a report on Sunday, August 31st. Citigroup dropped their target price on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, Keefe, Bruyette & Woods increased their target price on Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $328.57.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.