Jones Lang LaSalle Incorporated $JLL Stock Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its JLL stake by 5.2% in the third quarter, selling 13,701 shares and retaining 247,919 shares valued at about $75.7 million.
• JLL reported quarterly EPS of $6.76, beating estimates of $6.15, while revenue rose 11.8% year over year to $7.28 billion, slightly above expectations.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $427.60; institutional investors collectively own 94.8% of the company.

Boston Trust Walden Corp trimmed its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 247,919 shares of the financial services provider's stock after selling 13,701 shares during the quarter. Boston Trust Walden Corp owned about 0.54% of Jones Lang LaSalle worth $75,744,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of JLL. BlackRock Inc. acquired a new position in shares of Jones Lang LaSalle in the 2nd quarter valued at $1,446,414,000. Principal Financial Group Inc. increased its holdings in shares of Jones Lang LaSalle by 279.6% during the 1st quarter. Principal Financial Group Inc. now owns 429,418 shares of the financial services provider's stock worth $130,683,000 after buying an additional 316,299 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Jones Lang LaSalle during the 2nd quarter worth $87,669,000. Bank of America Corp DE purchased a new position in shares of Jones Lang LaSalle in the 2nd quarter worth $83,791,000. Finally, Equity Investment Corp purchased a new position in shares of Jones Lang LaSalle in the 2nd quarter worth $81,056,000. Institutional investors and hedge funds own 94.80% of the company's stock.

Wall Street Analysts Forecast Growth

JLL has been the subject of a number of research reports. Weiss Ratings raised Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 18th. Wall Street Zen downgraded Jones Lang LaSalle from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 31st. Zacks Research lowered Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Raymond James Financial reiterated a "strong-buy" rating and set a $500.00 target price on shares of Jones Lang LaSalle in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Jones Lang LaSalle from $415.00 to $385.00 and set an "outperform" rating for the company in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $427.60.

Jones Lang LaSalle Stock Performance

NYSE:JLL opened at $389.90 on Thursday. 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 market capitalization of $17.81 billion, a price-to-earnings ratio of 16.87 and a beta of 1.29. The firm's fifty day simple moving average is $330.91 and its 200 day simple moving average is $325.03. Jones Lang LaSalle Incorporated has a twelve month low of $259.83 and a twelve month high of $393.84.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $6.76 earnings per share for the quarter, topping analysts' consensus estimates of $6.15 by $0.61. Jones Lang LaSalle had a net margin of 3.89% and a return on equity of 15.05%. The firm had revenue of $7.28 billion during the quarter, compared to analysts' expectations of $7.24 billion. During the same period in the prior year, the company earned $4.50 EPS. The firm's revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts expect that Jones Lang LaSalle Incorporated will post 25.16 earnings per share for the current fiscal year.

Insider Activity at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 2,000 shares of the company'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 completion of the sale, the chief executive officer owned 138,418 shares of the company's stock, valued at $53,364,291.54. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,000 shares of company stock worth $2,271,060 in the last 90 days. Insiders own 0.91% of the company's stock.

About Jones Lang LaSalle

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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