Vulcan Value Partners LLC Reduces Holdings in Jones Lang LaSalle Incorporated $JLL

Key Points

• Vulcan Value Partners cut its Jones Lang LaSalle stake by 23.8% in the fourth quarter, selling 47,038 shares and ending with 150,625 shares worth about $50.7 million.
• Insider selling continued, with CEO Richard Bloxam and Director Larry Quinlan both selling shares in recent transactions; insiders sold 6,245 shares worth about $1.86 million in the last quarter.
• JLL reported better-than-expected Q1 results, posting $3.43 EPS on $6.39 billion in revenue, while analysts currently rate the stock Moderate Buy with an average price target of $394.

Vulcan Value Partners LLC reduced its position in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,625 shares of the financial services provider's stock after selling 47,038 shares during the period. Jones Lang LaSalle makes up about 0.9% of Vulcan Value Partners LLC's holdings, making the stock its 23rd biggest holding. Vulcan Value Partners LLC owned approximately 0.32% of Jones Lang LaSalle worth $50,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JLL. Sunbelt Securities Inc. acquired a new stake in Jones Lang LaSalle during the 3rd quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Jones Lang LaSalle in the 4th quarter valued at approximately $29,000. Activest Wealth Management raised its position in shares of Jones Lang LaSalle by 1,720.0% in the 4th quarter. Activest Wealth Management now owns 91 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 86 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Jones Lang LaSalle during the 4th quarter valued at approximately $35,000. Finally, True Wealth Design LLC grew its position in shares of Jones Lang LaSalle by 13,200.0% during the fourth quarter. True Wealth Design LLC now owns 133 shares of the financial services provider's stock worth $45,000 after buying an additional 132 shares in the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Richard Bloxam sold 5,440 shares of the company's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $296.94, for a total transaction of $1,615,353.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry Quinlan sold 402 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $301.73, for a total value of $121,295.46. Following the sale, the director owned 4,369 shares in the company, valued at $1,318,258.37. The trade was a 8.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,245 shares of company stock worth $1,855,590. 0.91% of the stock is owned by company insiders.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock opened at $297.12 on Friday. 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 Incorporated has a 12 month low of $237.03 and a 12 month high of $363.06. The company has a fifty day moving average price of $310.94 and a two-hundred day moving average price of $319.97. The company has a market cap of $13.78 billion, a PE ratio of 15.97 and a beta of 1.29.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $3.43 earnings per share for the quarter, topping analysts' consensus estimates of $3.01 by $0.42. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. The company had revenue of $6.39 billion for the quarter, compared to analysts' expectations of $6 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. Research analysts expect that Jones Lang LaSalle Incorporated will post 22.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on JLL. Barclays upped their price target 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. Zacks Research downgraded shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 24th. UBS Group upped their target price on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Weiss Ratings cut shares of Jones Lang LaSalle from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating for the company in a report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $394.00.

About Jones Lang LaSalle

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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