Engineers Gate Manager LP Reduces Stock Position in Jones Lang LaSalle Incorporated $JLL

Key Points

• Engineers Gate Manager LP cut its Jones Lang LaSalle position by 76.4% in the second quarter, selling 33,763 shares and retaining 10,458 shares valued at approximately $3.24 million.
• Analyst sentiment remains positive overall, with JLL carrying a “Moderate Buy” consensus rating and an average price target of $433.60. Recent targets range from $401 to $500.
• JLL reported quarterly earnings of $5.26 per share, exceeding estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion. CEO Christian Ulbrich also sold 2,000 shares under a pre-arranged trading plan.

Engineers Gate Manager LP decreased its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 76.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,458 shares of the financial services provider's stock after selling 33,763 shares during the period. Engineers Gate Manager LP's holdings in Jones Lang LaSalle were worth $3,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Deutsche Bank AG purchased a new stake in shares of Jones Lang LaSalle in the 2nd quarter worth $6,504,000. Moran Wealth Management LLC bought a new stake in shares of Jones Lang LaSalle in the first quarter valued at about $4,405,000. Thrivent Financial for Lutherans lifted its stake in Jones Lang LaSalle by 78.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 28,895 shares of the financial services provider's stock worth $9,723,000 after acquiring an additional 12,699 shares during the period. Geode Capital Management LLC grew its holdings 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 in the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new position in Jones Lang LaSalle during the 4th quarter valued at about $1,507,000. 94.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JLL shares. Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods upped their target price on Jones Lang LaSalle from $375.00 to $415.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. Barclays lifted 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 restated 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. Finally, Weiss Ratings upgraded Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $433.60.

Insiders Place Their Bets

In other news, CEO Christian Ulbrich sold 2,000 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $385.53, for a total transaction of $771,060.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,000 shares of company stock valued at $2,271,060 over the last three months. 0.91% of the stock is currently owned by company insiders.

Jones Lang LaSalle Price Performance

NYSE JLL opened at $347.07 on Monday. The firm's fifty day simple moving average is $353.01 and its two-hundred day simple moving average is $324.17. The firm has a market capitalization of $15.97 billion, a P/E ratio of 16.63 and a beta of 1.24. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. Jones Lang LaSalle Incorporated has a 12-month low of $259.83 and a 12-month high of $393.84.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter last year, the firm earned $3.30 EPS. The business's quarterly revenue was up 10.8% on a year-over-year basis. Analysts forecast that Jones Lang LaSalle Incorporated will post 25.05 EPS for the current fiscal year.

Jones Lang LaSalle Company Profile

Jones Lang LaSalle Incorporated NYSE: JLL, operating under the JLL brand, is a global commercial real estate services and investment management company. It advises property owners, occupiers, investors and developers across the real estate lifecycle, with services that include leasing, capital markets, investment sales and acquisitions, valuation and advisory, research, development consulting, and property and facilities management.

JLL also provides project and development management, workplace strategy, sustainability consulting, and technology-enabled real estate solutions.

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