Gotham Asset Management LLC lowered its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 7.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,435 shares of the financial services provider's stock after selling 1,212 shares during the period. Gotham Asset Management LLC's holdings in Jones Lang LaSalle were worth $3,907,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. EdgePoint Investment Group Inc. raised its stake in Jones Lang LaSalle by 5.7% during the fourth quarter. EdgePoint Investment Group Inc. now owns 1,639,526 shares of the financial services provider's stock worth $415,030,000 after buying an additional 88,479 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Jones Lang LaSalle by 0.9% in the 4th quarter. Invesco Ltd. now owns 944,623 shares of the financial services provider's stock valued at $239,122,000 after purchasing an additional 8,274 shares during the period. Geode Capital Management LLC boosted its position in shares of Jones Lang LaSalle by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 934,958 shares of the financial services provider's stock valued at $240,190,000 after purchasing an additional 41,331 shares in the last quarter. Norges Bank bought a new stake in Jones Lang LaSalle in the fourth quarter worth approximately $149,468,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Jones Lang LaSalle by 13.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 542,675 shares of the financial services provider's stock valued at $137,373,000 after buying an additional 65,407 shares during the period. Institutional investors and hedge funds own 94.80% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on JLL. JPMorgan Chase & Co. lowered their price objective on shares of Jones Lang LaSalle from $327.00 to $285.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. StockNews.com lowered shares of Jones Lang LaSalle from a "strong-buy" rating to a "buy" rating in a report on Tuesday, May 13th. Keefe, Bruyette & Woods reduced their target price on Jones Lang LaSalle from $325.00 to $280.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Raymond James upped their price target on Jones Lang LaSalle from $317.00 to $320.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 24th. Finally, UBS Group decreased their price objective on Jones Lang LaSalle from $340.00 to $305.00 and set a "buy" rating for the company in a report on Friday, April 11th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $315.83.
Check Out Our Latest Stock Analysis on Jones Lang LaSalle
Jones Lang LaSalle Stock Down 0.7%
JLL stock traded down $1.68 during mid-day trading on Tuesday, reaching $229.74. 123,564 shares of the company traded hands, compared to its average volume of 367,229. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 20.35 and a beta of 1.33. Jones Lang LaSalle Incorporated has a fifty-two week low of $192.94 and a fifty-two week high of $288.50. The firm's 50 day moving average price is $231.58 and its 200 day moving average price is $254.20. The company has a quick ratio of 2.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.12.
Jones Lang LaSalle (NYSE:JLL - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.29. The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.65 billion. Jones Lang LaSalle had a return on equity of 10.20% and a net margin of 2.33%. Jones Lang LaSalle's revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.78 earnings per share. As a group, equities research analysts predict that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.
Jones Lang LaSalle Profile
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Free Report)
Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.
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