Jones Lang LaSalle Incorporated $JLL Position Increased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al increased its JLL stake by 219.9% in the third quarter, ending with 11,870 shares valued at approximately $3.63 million. Institutional investors collectively own 94.8% of the company.
• JLL reported quarterly EPS of $6.76, exceeding estimates of $6.15, while revenue rose 11.8% year over year to $7.28 billion. The company posted a 3.89% net margin and 15.05% return on equity.
• Analyst sentiment remains positive overall, with JLL carrying a consensus “Moderate Buy” rating and an average price target of $427.60, although CEO Christian Ulbrich and other insiders sold shares recently.

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 219.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,870 shares of the financial services provider's stock after buying an additional 8,160 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Jones Lang LaSalle were worth $3,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Childress Capital Advisors LLC grew its holdings in shares of Jones Lang LaSalle by 9.3% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,815 shares of the financial services provider's stock valued at $860,000 after acquiring an additional 240 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in shares of Jones Lang LaSalle during the third quarter worth $69,000. Park Avenue Securities LLC raised its holdings in shares of Jones Lang LaSalle by 5.9% during the third quarter. Park Avenue Securities LLC now owns 4,170 shares of the financial services provider's stock worth $1,274,000 after acquiring an additional 231 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Jones Lang LaSalle during the third quarter valued at $351,000. Finally, Hedeker Wealth LLC grew its stake in Jones Lang LaSalle by 0.6% in the third quarter. Hedeker Wealth LLC now owns 7,439 shares of the financial services provider's stock valued at $2,273,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company's stock.

Insider Activity

In other news, CEO Christian Ulbrich sold 2,000 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $385.53, for a total value of $771,060.00. Following the sale, the chief executive officer directly owned 138,418 shares of the company's stock, valued at approximately $53,364,291.54. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,000 shares of company stock valued at $2,271,060 over the last 90 days. Company insiders own 0.91% of the company's stock.

Jones Lang LaSalle Price Performance

Shares of Jones Lang LaSalle stock opened at $359.53 on Monday. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $331.39 and a 200-day simple moving average of $324.51. The stock has a market capitalization of $16.42 billion, a price-to-earnings ratio of 15.56 and a beta of 1.29. Jones Lang LaSalle Incorporated has a 1-year low of $259.83 and a 1-year high of $393.84.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its earnings results on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.15 by $0.61. The business had revenue of $7.28 billion for the quarter, compared to analyst estimates of $7.24 billion. Jones Lang LaSalle had a net margin of 3.89% and a return on equity of 15.05%. Jones Lang LaSalle's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $4.50 EPS. On average, sell-side analysts expect that Jones Lang LaSalle Incorporated will post 25.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings raised Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 18th. Zacks Research lowered Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Wall Street Zen downgraded Jones Lang LaSalle from a "strong-buy" rating to a "buy" rating in a report on Saturday. Raymond James Financial reaffirmed a "strong-buy" rating and set a $500.00 price objective on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Finally, Citigroup reiterated a "market perform" rating on shares of Jones Lang LaSalle in a research note on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Jones Lang LaSalle has an average rating of "Moderate Buy" and a consensus price target of $427.60.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated, doing business as JLL, is a global commercial real estate services and investment management company. It serves property owners, occupiers, investors and developers across a broad range of real estate sectors, including office, industrial, retail, residential, hospitality and specialized properties.

JLL's services include leasing, capital markets and investment sales, property and facilities management, project and development management, valuation and advisory services, workplace strategy, sustainability consulting and real estate technology solutions.

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