Oliver Luxxe Assets LLC Grows Stake in Jones Lang LaSalle Incorporated $JLL

Key Points

• Oliver Luxxe Assets LLC increased its stake in Jones Lang LaSalle Incorporated by 4.9% during the second quarter, owning 25,311 shares valued at approximately $6.47 million.
• Several analysts have raised their price targets for Jones Lang LaSalle, with UBS increasing theirs from $305.00 to $340.00 and JPMorgan from $285.00 to $372.00, indicating strong market confidence.
• The company reported quarterly earnings of $3.30 EPS, exceeding estimates, and had an 11.0% year-over-year revenue increase, amounting to $6.25 billion.

Oliver Luxxe Assets LLC lifted its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 4.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,311 shares of the financial services provider's stock after acquiring an additional 1,174 shares during the period. Jones Lang LaSalle accounts for about 1.2% of Oliver Luxxe Assets LLC's portfolio, making the stock its 26th biggest holding. Oliver Luxxe Assets LLC owned approximately 0.05% of Jones Lang LaSalle worth $6,474,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in JLL. Golden State Wealth Management LLC bought a new position in shares of Jones Lang LaSalle in the first quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Jones Lang LaSalle by 322.6% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider's stock valued at $34,000 after buying an additional 100 shares during the last quarter. SVB Wealth LLC bought a new position in Jones Lang LaSalle during the first quarter valued at approximately $38,000. Western Pacific Wealth Management LP bought a new position in Jones Lang LaSalle during the first quarter valued at approximately $41,000. Finally, Versant Capital Management Inc boosted its stake in Jones Lang LaSalle by 356.3% during the first quarter. Versant Capital Management Inc now owns 324 shares of the financial services provider's stock valued at $80,000 after buying an additional 253 shares during the last quarter. Institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Trading Down 1.6%

Shares of NYSE JLL traded down $5.22 during midday trading on Monday, hitting $313.26. The company's stock had a trading volume of 330,446 shares, compared to its average volume of 395,719. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $289.09 and its two-hundred day moving average is $254.19. Jones Lang LaSalle Incorporated has a 12-month low of $194.36 and a 12-month high of $322.36. The firm has a market cap of $14.84 billion, a P/E ratio of 26.94 and a beta of 1.41.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.10. Jones Lang LaSalle had a return on equity of 10.63% and a net margin of 2.28%.The firm had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.17 billion. During the same period in the prior year, the business posted $2.55 earnings per share. The company's revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on JLL. Citigroup dropped their price target on Jones Lang LaSalle from $275.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Citizens Jmp began coverage on Jones Lang LaSalle in a research note on Monday, July 21st. They set a "market perform" rating for the company. Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Sunday, August 31st. JPMorgan Chase & Co. upped their price objective on Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, Keefe, Bruyette & Woods upped their price objective on Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $328.57.

Jones Lang LaSalle Company Profile

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.