Gateway Investment Advisers LLC Boosts Stake in Jones Lang LaSalle Incorporated $JLL

Key Points

• Gateway Investment Advisers LLC increased its position in Jones Lang LaSalle Incorporated (JLL) by 710.6% during the second quarter, now owning 14,842 shares valued at approximately $3.8 million.
• Jones Lang LaSalle reported strong quarterly earnings, with earnings per share of $3.30 and revenue of $6.25 billion, surpassing analyst estimates.
• Institutional investors hold 94.80% of Jones Lang LaSalle's stock, with several firms increasing their stakes, reflecting strong interest in the company.

Gateway Investment Advisers LLC raised its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 710.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,842 shares of the financial services provider's stock after purchasing an additional 13,011 shares during the quarter. Gateway Investment Advisers LLC's holdings in Jones Lang LaSalle were worth $3,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Jones Lang LaSalle by 322.6% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock worth $34,000 after purchasing an additional 100 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Jones Lang LaSalle during the first quarter valued at $33,000. SVB Wealth LLC purchased a new stake in shares of Jones Lang LaSalle in the 1st quarter valued at about $38,000. Western Pacific Wealth Management LP bought a new position in shares of Jones Lang LaSalle in the first quarter worth approximately $41,000. Finally, Brooklyn Investment Group grew its position in shares of Jones Lang LaSalle by 142.1% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock worth $80,000 after buying an additional 189 shares during the period. Institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Stock Performance

Shares of Jones Lang LaSalle stock traded down $1.46 on Friday, reaching $318.20. The stock had a trading volume of 913,533 shares, compared to its average volume of 374,002. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two 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. The business's 50-day moving average price is $287.94 and its two-hundred day moving average price is $253.78. The stock has a market cap of $15.08 billion, a P/E ratio of 27.36 and a beta of 1.41.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JLL shares. Citigroup lowered their target price on shares of Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. The Goldman Sachs Group boosted their price target on Jones Lang LaSalle from $338.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Jones Lang LaSalle from a "hold" rating to a "buy" rating in a report on Sunday, August 31st. Keefe, Bruyette & Woods increased their price target on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Citizens Jmp assumed coverage on Jones Lang LaSalle in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of "Moderate Buy" and a consensus target price of $328.57.

About Jones Lang LaSalle

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.