Dimensional Fund Advisors LP Sells 118,706 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Dimensional Fund Advisors reduced its Jones Lang LaSalle stake by 12.2% in the first quarter, selling 118,706 shares and leaving it with 853,942 shares valued at about $259.9 million.
• JLL’s latest quarterly results beat expectations, with EPS of $3.43 versus the $3.01 estimate and revenue of $6.39 billion, up 11.1% year over year.
• Wall Street sentiment remains positive, with analysts maintaining a “Buy” average rating and an average price target of $394, while several firms recently raised targets or upgraded the stock.

Dimensional Fund Advisors LP cut its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 853,942 shares of the financial services provider's stock after selling 118,706 shares during the period. Dimensional Fund Advisors LP owned about 1.84% of Jones Lang LaSalle worth $259,855,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. bought a new position in Jones Lang LaSalle in the 3rd quarter worth about $25,000. International Assets Investment Management LLC purchased a new position in shares of Jones Lang LaSalle during the fourth quarter worth approximately $29,000. Activest Wealth Management boosted its holdings in shares of Jones Lang LaSalle by 1,720.0% in the fourth quarter. Activest Wealth Management now owns 91 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 86 shares during the period. Hilton Head Capital Partners LLC bought a new position in Jones Lang LaSalle in the fourth quarter worth approximately $35,000. Finally, Bayforest Capital Ltd purchased a new position in Jones Lang LaSalle during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Insiders Place Their Bets

In other Jones Lang LaSalle news, Director Larry Quinlan sold 402 shares of Jones Lang LaSalle stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the transaction, the director owned 4,369 shares in the company, valued at $1,318,258.37. The trade was a 8.43% decrease in their ownership of the stock. The transaction 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 currently owned by insiders.

Jones Lang LaSalle Stock Performance

Shares of NYSE:JLL opened at $324.07 on Thursday. The firm has a 50 day moving average of $305.54 and a 200 day moving average of $317.48. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $15.03 billion, a price-to-earnings ratio of 17.42 and a beta of 1.27. Jones Lang LaSalle Incorporated has a 52 week low of $258.19 and a 52 week high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.42. The business had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $6 billion. Jones Lang LaSalle had a return on equity of 13.01% and a net margin of 3.35%.The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. On average, sell-side analysts predict that Jones Lang LaSalle Incorporated will post 22.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JLL has been the subject of several research reports. Barclays upped their target price on Jones Lang LaSalle from $348.00 to $366.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 13th. Weiss Ratings lowered Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. UBS Group lifted their price objective on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $394.00.

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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