Jones Lang LaSalle (NYSE:JLL) Sets New 1-Year High - Should You Buy?

Key Points

• Jones Lang LaSalle shares reached a new 52-week high, trading as high as $393.84 and gaining 5.1%. The stock has a market capitalization of $17.94 billion and trades above both its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $423.33. Recent targets range from $401 to $500, although Zacks downgraded the stock to “hold.”
• JLL exceeded quarterly earnings expectations, reporting $5.26 in EPS versus $4.56 expected, while revenue rose 10.8% year over year to $6.93 billion. However, insiders have sold shares recently, including CEO Christian Ulbrich’s $750,000 sale under a pre-arranged trading plan.

Jones Lang LaSalle Incorporated (NYSE:JLL - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $393.84 and last traded at $389.8620, with a volume of 429224 shares. The stock had previously closed at $371.03.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JLL. Raymond James Financial reissued a "strong-buy" rating and set a $500.00 price target on shares of Jones Lang LaSalle in a research report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price objective on Jones Lang LaSalle from $375.00 to $415.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Zacks Research cut Jones Lang LaSalle from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Jones Lang LaSalle from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday. Finally, Barclays boosted their price objective on shares of Jones Lang LaSalle from $368.00 to $401.00 and gave the stock an "equal weight" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $423.33.

Jones Lang LaSalle Trading Up 5.1%

The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 18.68 and a beta of 1.25. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $332.19 and a 200-day moving average price of $318.51.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $5.26 earnings per share for the quarter, topping analysts' consensus estimates of $4.56 by $0.70. Jones Lang LaSalle had a return on equity of 13.99% and a net margin of 3.64%.The firm had revenue of $6.93 billion during the quarter, compared to analysts' expectations of $6.88 billion. During the same quarter in the prior year, the business earned $3.30 EPS. Jones Lang LaSalle's quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts expect that Jones Lang LaSalle Incorporated will post 24.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Larry Quinlan sold 402 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $301.73, for a total transaction of $121,295.46. Following the completion of the sale, the director directly owned 4,369 shares in the company, valued at $1,318,258.37. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christian Ulbrich sold 2,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $375.00, for a total value of $750,000.00. Following the completion of the transaction, the chief executive officer owned 144,418 shares in the company, valued at approximately $54,156,750. This trade represents a 1.37% decrease in their position. 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. Insiders have sold 4,805 shares of company stock valued at $1,740,237 over the last 90 days. Insiders own 0.91% of the company's stock.

Hedge Funds Weigh In On Jones Lang LaSalle

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC increased its stake in shares of Jones Lang LaSalle by 14.5% in the second quarter. Hsbc Holdings PLC now owns 5,138 shares of the financial services provider's stock worth $1,592,000 after buying an additional 649 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in Jones Lang LaSalle during the 2nd quarter valued at $991,000. Empowered Funds LLC bought a new position in Jones Lang LaSalle during the 2nd quarter valued at $5,583,000. United Capital Financial Advisors LLC bought a new stake in shares of Jones Lang LaSalle in the 2nd quarter worth about $528,000. Finally, Caitlin John LLC bought a new stake in shares of Jones Lang LaSalle in the 2nd quarter worth about $366,000. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Jones Lang LaSalle Company Profile

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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