Moran Wealth Management LLC Purchases Shares of 14,474 Jones Lang LaSalle Incorporated $JLL

Key Points

• Moran Wealth Management initiated a new position in Jones Lang LaSalle, buying 14,474 shares valued at about $4.4 million in the first quarter.
• JLL reported better-than-expected quarterly results, with earnings of $3.43 per share versus $3.01 expected and revenue of $6.39 billion versus $6.0 billion projected. Revenue rose 11.1% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average target price of $394, while UBS and Zacks recently raised their outlooks.

Moran Wealth Management LLC purchased a new stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,474 shares of the financial services provider's stock, valued at approximately $4,405,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DigitalBridge Group Inc. acquired a new stake in shares of Jones Lang LaSalle in the 3rd quarter valued at about $1,223,000. Lighthouse Investment Partners LLC lifted its holdings in shares of Jones Lang LaSalle by 41.8% in the third quarter. Lighthouse Investment Partners LLC now owns 30,316 shares of the financial services provider's stock valued at $9,043,000 after purchasing an additional 8,930 shares in the last quarter. GRS Advisors LLC acquired a new position in shares of Jones Lang LaSalle during the third quarter worth about $18,659,000. Bamco Inc. NY grew its holdings in shares of Jones Lang LaSalle by 8.8% during the third quarter. Bamco Inc. NY now owns 564,097 shares of the financial services provider's stock worth $168,259,000 after buying an additional 45,733 shares in the last quarter. Finally, Brevan Howard Capital Management LP raised its position in Jones Lang LaSalle by 31.6% in the 3rd quarter. Brevan Howard Capital Management LP now owns 14,343 shares of the financial services provider's stock valued at $4,278,000 after buying an additional 3,447 shares during the last quarter. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $327.58 on Friday. The company has a fifty day moving average price of $306.07 and a two-hundred day moving average price of $318.76. Jones Lang LaSalle Incorporated has a one year low of $246.07 and a one year high of $363.06. The stock has a market cap of $15.20 billion, a P/E ratio of 17.61 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.35 and a quick ratio of 2.35.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.42. The company had revenue of $6.39 billion for the quarter, compared to analyst estimates of $6 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. Jones Lang LaSalle's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.31 EPS. As a group, equities analysts predict that Jones Lang LaSalle Incorporated will post 22.84 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on JLL shares. UBS Group boosted their target price on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Barclays lifted their price objective on shares of Jones Lang LaSalle from $348.00 to $366.00 and gave the company an "equal weight" rating in a report on Wednesday, May 13th. Weiss Ratings lowered shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Finally, Zacks Research upgraded shares of Jones Lang LaSalle from a "hold" rating to a "strong-buy" rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $394.00.

Insider Buying and Selling

In other Jones Lang LaSalle news, Director Larry Quinlan sold 403 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $295.14, for a total transaction of $118,941.42. Following the transaction, the director owned 4,771 shares of the company's stock, valued at $1,408,112.94. The trade was a 7.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.91% of the company's stock.

Jones Lang LaSalle Profile

Jones Lang LaSalle Incorporated NYSE: JLL is a leading professional services firm specializing in real estate and investment management. The company provides a broad range of services including leasing, advisory, property and asset management, capital markets, project and development services, and valuation. Through its integrated platform, JLL serves corporate occupiers, institutional investors, real estate owners and developers, offering tailored solutions that span the entire real estate lifecycle.

Founded in 1783 in London as Jones Lang Wootton, the firm established a reputation for expertise in property management and brokerage.

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