Tidal Investments LLC Buys 25,413 Shares of Jones Lang LaSalle Incorporated $JLL

Key Points

• Tidal Investments increased its JLL stake by 47.9% in the second quarter, purchasing 25,413 shares and bringing its holdings to 78,419 shares valued at approximately $24.3 million. Institutional investors collectively own 94.8% of the company.
• JLL reported quarterly earnings of $5.26 per share, beating estimates of $4.56, while revenue rose 10.8% year over year to $6.93 billion.
• Analysts maintain a generally positive outlook, with JLL receiving a consensus “Moderate Buy” rating and an average price target of $433.60 versus its reported share price of $341.50.

Tidal Investments LLC grew its position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 47.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,419 shares of the financial services provider's stock after purchasing an additional 25,413 shares during the period. Tidal Investments LLC owned approximately 0.17% of Jones Lang LaSalle worth $24,306,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of Jones Lang LaSalle by 30,596.1% in the 2nd quarter. California State Teachers Retirement System now owns 16,836,174 shares of the financial services provider's stock valued at $5,218,372,000 after acquiring an additional 16,781,326 shares in the last quarter. BlackRock Inc. purchased a new stake in Jones Lang LaSalle in the second quarter valued at approximately $1,446,414,000. AQR Capital Management LLC lifted its position in Jones Lang LaSalle by 426.7% during the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider's stock valued at $302,697,000 after purchasing an additional 728,824 shares during the last quarter. Norges Bank purchased a new position in Jones Lang LaSalle in the 4th quarter worth approximately $194,950,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Jones Lang LaSalle in the 4th quarter worth $132,263,000. Institutional investors own 94.80% of the company's stock.

Insider Activity at Jones Lang LaSalle

In other news, CEO Christian Ulbrich sold 2,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 138,418 shares in the company, valued at $53,364,291.54. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,000 shares of company stock valued at $2,271,060. 0.91% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JLL. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 23rd. Barclays increased their price target on shares of 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. Keefe, Bruyette & Woods boosted their price objective on shares of Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Weiss Ratings raised Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 18th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $500.00 price target on shares of Jones Lang LaSalle in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Jones Lang LaSalle has a consensus rating of "Moderate Buy" and an average price target of $433.60.

Jones Lang LaSalle Stock Down 1.4%

NYSE:JLL opened at $341.50 on Friday. The firm has a 50-day simple moving average of $352.62 and a two-hundred day simple moving average of $323.86. The firm has a market cap of $15.71 billion, a P/E ratio of 16.36 and a beta of 1.24. Jones Lang LaSalle Incorporated has a fifty-two week low of $259.83 and a fifty-two week high of $393.84. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 2.40.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 EPS for the quarter, beating analysts' consensus estimates of $4.56 by $0.70. The firm had revenue of $6.93 billion for the quarter, compared to analysts' expectations of $6.88 billion. Jones Lang LaSalle had a net margin of 3.64% and a return on equity of 13.99%. The business's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.30 earnings per share. Analysts predict that Jones Lang LaSalle Incorporated will post 25.05 earnings per share for the current fiscal year.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated NYSE: JLL, operating under the JLL brand, is a global commercial real estate services and investment management company. It advises property owners, occupiers, investors and developers across the real estate lifecycle, with services that include leasing, capital markets, investment sales and acquisitions, valuation and advisory, research, development consulting, and property and facilities management.

JLL also provides project and development management, workplace strategy, sustainability consulting, and technology-enabled real estate solutions.

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