Jones Lang LaSalle Incorporated $JLL Shares Newly Acquired by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management initiated a JLL position in the third quarter, buying 6,036 shares valued at approximately $1.84 million. Institutional investors collectively own 94.8% of the company.
• Analysts give JLL a consensus “Moderate Buy” rating, with an average price target of $427.60; ratings include one Strong Buy, four Buys, and three Holds.
• JLL beat quarterly earnings and revenue expectations, reporting EPS of $6.76 versus $6.15 forecast and revenue of $7.28 billion, up 11.8% year over year.

Prescott Group Capital Management L.L.C. purchased a new stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,036 shares of the financial services provider's stock, valued at approximately $1,844,000.

Several other institutional investors have also added to or reduced their stakes in JLL. BlackRock Inc. bought a new position in Jones Lang LaSalle during the second quarter valued at $1,446,414,000. Artemis Investment Management LLP lifted its holdings in shares of Jones Lang LaSalle by 23.2% in the 3rd quarter. Artemis Investment Management LLP now owns 460,389 shares of the financial services provider's stock valued at $140,658,000 after acquiring an additional 86,563 shares during the last quarter. Principal Financial Group Inc. grew its position in Jones Lang LaSalle by 279.6% in the first quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider's stock worth $130,683,000 after acquiring an additional 316,299 shares in the last quarter. Bank of America Corp DE grew its position in Jones Lang LaSalle by 1.3% in the first quarter. Bank of America Corp DE now owns 303,446 shares of the financial services provider's stock worth $92,345,000 after acquiring an additional 3,985 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Jones Lang LaSalle during the second quarter worth approximately $87,669,000. Hedge funds and other institutional investors own 94.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Jones Lang LaSalle from $368.00 to $401.00 and gave the company an "equal weight" rating in a research report on Monday, August 17th. Citigroup reiterated a "market perform" rating on shares of Jones Lang LaSalle in a report on Thursday, September 17th. Wall Street Zen downgraded Jones Lang LaSalle from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Keefe, Bruyette & Woods decreased their price target on Jones Lang LaSalle from $415.00 to $385.00 and set an "outperform" rating on the stock in a report on Friday, October 9th. Finally, Zacks Research downgraded Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jones Lang LaSalle currently has a consensus rating of "Moderate Buy" and an average price target of $427.60.

Insider Buying and Selling at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 2,000 shares of Jones Lang LaSalle stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $385.53, for a total value of $771,060.00. Following the transaction, the chief executive officer owned 138,418 shares of the company's stock, valued at $53,364,291.54. The trade was a 1.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,000 shares of company stock valued at $2,271,060. 0.91% of the stock is currently owned by company insiders.

Jones Lang LaSalle Trading Down 1.2%

Shares of JLL opened at $374.61 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.43 and a quick ratio of 2.43. The firm has a market capitalization of $17.11 billion, a price-to-earnings ratio of 16.21 and a beta of 1.29. The company has a 50-day moving average of $330.96 and a 200 day moving average of $324.85. 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 issued its earnings results on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.15 by $0.61. The company had revenue of $7.28 billion for the quarter, compared to analysts' expectations of $7.24 billion. Jones Lang LaSalle had a net margin of 3.89% and a return on equity of 15.05%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.50 EPS. On average, research analysts expect that Jones Lang LaSalle Incorporated will post 25.16 EPS for the current year.

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.

Want to see what other hedge funds are holding JLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.