Jones Lang LaSalle (NYSE:JLL) Reaches New 1-Year High on Earnings Beat

Key Points

• Jones Lang LaSalle shares hit a new 52-week high, trading as high as $363.89 after the company reported quarterly EPS of $5.26, surpassing estimates of $4.56. Revenue reached $6.93 billion, up 10.8% year over year and slightly above consensus.
• Analysts maintain a generally positive view, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $394.40. UBS raised its target to $445, while Barclays lifted its target to $368 but retained an “equal weight” rating.
• Institutional investors and hedge funds own 94.8% of JLL, with several firms recently initiating or increasing positions. An insider separately sold 403 shares under a pre-arranged Rule 10b5-1 trading plan.

Jones Lang LaSalle Incorporated (NYSE:JLL - Get Free Report)'s share price reached a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $363.89 and last traded at $363.1260, with a volume of 727696 shares trading hands. The stock had previously closed at $340.00.

The financial services provider reported $5.26 EPS for the quarter, topping analysts' consensus estimates of $4.56 by $0.70. The company had revenue of $6.93 billion during the quarter, compared to the consensus estimate of $6.88 billion. Jones Lang LaSalle had a net margin of 3.35% and a return on equity of 13.01%. Jones Lang LaSalle's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS.

Analyst Ratings Changes

A number of equities research analysts have weighed in on JLL shares. Zacks Research lowered Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. UBS Group raised their price target on Jones Lang LaSalle from $425.00 to $445.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Raymond James Financial restated a "strong-buy" rating on shares of Jones Lang LaSalle in a research note on Thursday. Barclays increased their price objective on Jones Lang LaSalle from $366.00 to $368.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $394.40.

Insider Buying and Selling at Jones Lang LaSalle

In related news, Director Larry Quinlan sold 403 shares of Jones Lang LaSalle 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 completion of the transaction, the director directly owned 4,771 shares in the company, valued at $1,408,112.94. The trade was a 7.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Jones Lang LaSalle

A number of institutional investors have recently made changes to their positions in JLL. Moran Wealth Management LLC acquired a new stake in shares of Jones Lang LaSalle during the 1st quarter worth about $4,405,000. Geode Capital Management LLC lifted its stake in shares of Jones Lang LaSalle by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 990,836 shares of the financial services provider's stock valued at $333,451,000 after buying an additional 15,995 shares during the period. Perigon Wealth Management LLC acquired a new stake in Jones Lang LaSalle during the fourth quarter worth approximately $3,901,000. Jackson Creek Investment Advisors LLC purchased a new stake in Jones Lang LaSalle in the 4th quarter worth approximately $1,507,000. Finally, Thrivent Financial for Lutherans raised its holdings in Jones Lang LaSalle by 78.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 28,895 shares of the financial services provider's stock valued at $9,723,000 after acquiring an additional 12,699 shares during the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Jones Lang LaSalle Trading Up 6.8%

The business has a 50 day simple moving average of $309.83 and a two-hundred day simple moving average of $316.96. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.15. The company has a market cap of $16.85 billion, a PE ratio of 19.52 and a beta of 1.27.

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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