Vulcan Value Partners LLC Sells 47,038 Shares of 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 leaving it with 150,625 shares valued at about $50.7 million.
• Insider selling also picked up, with CEO Richard Bloxam and Director Deborah H. Mcaneny both selling shares in March for more than $2.3 million combined.
• JLL posted solid quarterly results, beating earnings and revenue estimates with EPS of $3.43 on revenue of $6.39 billion, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $394.

Vulcan Value Partners LLC lessened its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 23.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,625 shares of the financial services provider's stock after selling 47,038 shares during the quarter. Jones Lang LaSalle makes up approximately 0.9% of Vulcan Value Partners LLC's portfolio, making the stock its 22nd biggest holding. Vulcan Value Partners LLC owned 0.32% of Jones Lang LaSalle worth $50,678,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of Jones Lang LaSalle in the 3rd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in Jones Lang LaSalle during the 4th quarter valued at $29,000. Activest Wealth Management raised its holdings in Jones Lang LaSalle by 1,720.0% during the 4th quarter. Activest Wealth Management now owns 91 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 86 shares during the period. Chilton Capital Management LLC raised its holdings in Jones Lang LaSalle by 33.0% during the 3rd quarter. Chilton Capital Management LLC now owns 133 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 33 shares during the period. Finally, True Wealth Design LLC raised its holdings in Jones Lang LaSalle by 13,200.0% during the 4th quarter. True Wealth Design LLC now owns 133 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 132 shares during the period. Institutional investors own 94.80% of the company's stock.

Insiders Place Their Bets

In related news, CEO Richard Bloxam sold 5,440 shares of the company's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $296.94, for a total value of $1,615,353.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deborah H. Mcaneny sold 2,500 shares of the company's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total transaction of $751,250.00. Following the completion of the transaction, the director owned 14,985 shares of the company's stock, valued at $4,502,992.50. This trade represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.91% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JLL shares. Keefe, Bruyette & Woods lowered their target price on shares of Jones Lang LaSalle from $405.00 to $380.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. UBS Group boosted their target price on shares of Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Zacks Research cut shares of Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Friday, April 24th. Weiss Ratings raised shares of Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 13th. Finally, Barclays boosted their target price 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. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $394.00.

Jones Lang LaSalle Stock Up 0.4%

JLL opened at $290.72 on Thursday. The company has a fifty day moving average price of $313.27 and a 200-day moving average price of $321.80. The firm has a market capitalization of $13.49 billion, a P/E ratio of 15.63 and a beta of 1.34. 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 one year low of $217.21 and a one year high of $363.06.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $3.43 EPS for the quarter, beating analysts' consensus estimates of $3.01 by $0.42. The firm had revenue of $6.39 billion during 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%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 EPS. Equities research analysts expect that Jones Lang LaSalle Incorporated will post 22.61 earnings per share for the current fiscal year.

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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