California State Teachers Retirement System Increases Stake in Jones Lang LaSalle Incorporated $JLL

Key Points

• California State Teachers Retirement System dramatically increased its JLL stake by 30,596.1% in the second quarter, acquiring 16.78 million additional shares and holding approximately 36.59% of the company, valued at $5.22 billion.
• JLL reported quarterly adjusted earnings of $5.26 per share, topping estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $433.60.
• JLL shares opened at $346.44, below their 52-week high of $393.84, while institutional investors collectively own 94.8% of the stock. Company insiders have sold 6,402 shares worth about $2.39 million over the past 90 days.

California State Teachers Retirement System increased its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 30,596.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,836,174 shares of the financial services provider's stock after buying an additional 16,781,326 shares during the period. California State Teachers Retirement System owned about 36.59% of Jones Lang LaSalle worth $5,218,372,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in JLL. Sunbelt Securities Inc. purchased a new stake in shares of Jones Lang LaSalle in the 3rd quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Jones Lang LaSalle during the 2nd quarter worth $26,000. International Assets Investment Management LLC acquired a new position in shares of Jones Lang LaSalle during the fourth quarter worth $29,000. Johnson Financial Group Inc. purchased a new position in Jones Lang LaSalle in the second quarter valued at $34,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Jones Lang LaSalle in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $346.44 on Thursday. The stock's 50-day moving average is $352.34 and its two-hundred day moving average is $323.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40. Jones Lang LaSalle Incorporated has a 1 year low of $259.83 and a 1 year high of $393.84. The firm has a market cap of $15.94 billion, a price-to-earnings ratio of 16.60 and a beta of 1.24.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, beating the consensus estimate of $4.56 by $0.70. The business had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $6.88 billion. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.30 EPS. Analysts predict that Jones Lang LaSalle Incorporated will post 25.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

JLL has been the subject of several analyst reports. Barclays upped their price objective on Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research report on Monday, August 17th. Weiss Ratings raised Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 18th. Keefe, Bruyette & Woods upped their price target on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Raymond James Financial reiterated a "strong-buy" rating and issued a $500.00 price target on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. Finally, Zacks Research cut shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $433.60.

Insider Activity at Jones Lang LaSalle

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the completion of the sale, the chief executive officer owned 138,418 shares in the company, valued at approximately $53,364,291.54. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Larry Quinlan sold 402 shares of the stock in a transaction that occurred on 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 sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,402 shares of company stock worth $2,392,355. 0.91% of the stock is currently owned by corporate insiders.

Jones Lang LaSalle 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.

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