Canada Pension Plan Investment Board Buys New Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Canada Pension Plan Investment Board acquired 68,540 shares of Jones Lang LaSalle worth approximately $21.2 million, giving it a 0.15% stake. Institutional investors collectively own 94.8% of the company.
• JLL reported quarterly earnings of $5.26 per share, beating 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, compared with the stock’s reported price of $378.94.

Canada Pension Plan Investment Board purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 68,540 shares of the financial services provider's stock, valued at approximately $21,244,000. Canada Pension Plan Investment Board owned about 0.15% of Jones Lang LaSalle as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Jones Lang LaSalle during the second quarter valued at about $1,446,414,000. AQR Capital Management LLC boosted its stake in Jones Lang LaSalle by 426.7% in the 4th quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider's stock worth $302,697,000 after purchasing an additional 728,824 shares in the last quarter. Norges Bank acquired a new stake in Jones Lang LaSalle in the 4th quarter worth approximately $194,950,000. Eurizon Capital SGR S.p.A. purchased a new stake in Jones Lang LaSalle during the 4th quarter worth approximately $132,263,000. Finally, Millennium Management LLC increased its stake in Jones Lang LaSalle by 4,285.3% during the 3rd quarter. Millennium Management LLC now owns 350,821 shares of the financial services provider's stock valued at $104,643,000 after purchasing an additional 342,821 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Trading Up 0.1%

Jones Lang LaSalle stock opened at $378.94 on Friday. 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 stock's 50 day simple moving average is $344.31 and its two-hundred day simple moving average is $320.79. Jones Lang LaSalle Incorporated has a 12 month low of $259.83 and a 12 month high of $393.84. The firm has a market cap of $17.44 billion, a PE ratio of 18.16 and a beta of 1.25.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, beating the consensus estimate of $4.56 by $0.70. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The company had revenue of $6.93 billion for the quarter, compared to analyst estimates of $6.88 billion. During the same quarter last year, the business earned $3.30 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. Analysts anticipate that Jones Lang LaSalle Incorporated will post 24.59 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Raymond James Financial reiterated a "strong-buy" rating and set a $500.00 price objective on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. Barclays upped their target price on Jones Lang LaSalle from $368.00 to $401.00 and gave the company an "equal weight" rating in a research report on Monday, August 17th. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. Weiss Ratings upgraded Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Finally, Keefe, Bruyette & Woods increased 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $433.60.

Insider Buying and Selling

In other Jones Lang LaSalle news, Director Larry Quinlan sold 403 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $295.14, for a total value of $118,941.42. Following the sale, the director directly owned 4,771 shares of the company's stock, valued at approximately $1,408,112.94. This trade represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christian Ulbrich sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were 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 of the company's stock, valued at $53,364,291.54. This trade represents a 1.42% 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 have sold 6,805 shares of company stock worth $2,511,297 in the last quarter. 0.91% of the stock is currently owned by company insiders.

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.

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