Rivermont Capital Management LP Decreases Stock Holdings in Jones Lang LaSalle Incorporated $JLL

Key Points

• Rivermont Capital Management LP reduced its holdings in Jones Lang LaSalle by 28.1%, now owning 36,415 shares valued at approximately $9 million, making it the fund's 14th largest position.
• Several institutional investors, including Empowered Funds LLC and Select Equity Group L.P., increased their stakes in Jones Lang LaSalle during the first quarter, indicating increasing interest in the stock.
• Jones Lang LaSalle received mixed ratings from analysts; Citigroup lowered its target to $240 while Goldman Sachs raised it to $378, resulting in an average price target of around $328.57.

Rivermont Capital Management LP reduced its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 28.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,415 shares of the financial services provider's stock after selling 14,222 shares during the period. Jones Lang LaSalle accounts for 3.8% of Rivermont Capital Management LP's holdings, making the stock its 14th biggest holding. Rivermont Capital Management LP owned about 0.08% of Jones Lang LaSalle worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in Jones Lang LaSalle in the first quarter valued at approximately $33,000. SVB Wealth LLC acquired a new position in shares of Jones Lang LaSalle in the 1st quarter valued at $38,000. Western Pacific Wealth Management LP purchased a new stake in Jones Lang LaSalle during the first quarter worth $41,000. Versant Capital Management Inc grew its position 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 period. Finally, Brooklyn Investment Group increased its holdings in Jones Lang LaSalle by 142.1% in the first quarter. Brooklyn Investment Group now owns 322 shares of the financial services provider's stock valued at $80,000 after buying an additional 189 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Jones Lang LaSalle from $280.00 to $297.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. JMP Securities initiated coverage on Jones Lang LaSalle in a report on Monday, July 21st. They issued a "market perform" rating for the company. Citizens Jmp began coverage on shares of Jones Lang LaSalle in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Wall Street Zen raised Jones Lang LaSalle from a "hold" rating to a "buy" rating in a research note on Sunday, August 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Jones Lang LaSalle from $285.00 to $372.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. One research 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $328.57.

Jones Lang LaSalle Stock Performance

JLL traded down $1.99 on Friday, reaching $312.42. The company had a trading volume of 523,801 shares, compared to its average volume of 407,493. The stock has a market capitalization of $14.80 billion, a PE ratio of 26.86 and a beta of 1.41. Jones Lang LaSalle Incorporated has a 1 year low of $194.36 and a 1 year high of $316.79. The stock has a 50-day moving average price of $281.05 and a 200-day moving average price of $251.91. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16.

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

Insider Activity at Jones Lang LaSalle

In other news, CEO Andrew W. Poppink sold 275 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $237.97, for a total transaction of $65,441.75. Following the transaction, the chief executive officer directly owned 10,297 shares in the company, valued at $2,450,377.09. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.91% of the company's stock.

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.