Parallel Advisors LLC boosted its stake in Jones Lang LaSalle Inc (NYSE:JLL) by 59.4% in the 3rd quarter, Holdings Channel reports. The firm owned 1,917 shares of the financial services provider’s stock after acquiring an additional 714 shares during the quarter. Parallel Advisors LLC’s holdings in Jones Lang LaSalle were worth $267,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of JLL. Long Pond Capital LP bought a new position in Jones Lang LaSalle in the 2nd quarter worth about $72,297,000. Balyasny Asset Management LLC boosted its position in shares of Jones Lang LaSalle by 1,491.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 159,589 shares of the financial services provider’s stock valued at $22,453,000 after acquiring an additional 149,563 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Jones Lang LaSalle by 105.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 278,798 shares of the financial services provider’s stock valued at $39,224,000 after acquiring an additional 142,801 shares during the last quarter. Waratah Capital Advisors Ltd. bought a new stake in shares of Jones Lang LaSalle during the 2nd quarter valued at about $13,444,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Jones Lang LaSalle during the 2nd quarter valued at about $12,462,000. Institutional investors and hedge funds own 82.72% of the company’s stock.
JLL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Jones Lang LaSalle in a research report on Wednesday, July 17th. They set an “overweight” rating and a $140.23 price target for the company. Barclays set a $179.00 price target on Jones Lang LaSalle and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, UBS Group lifted their price target on Jones Lang LaSalle from $178.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $174.47.
Shares of NYSE JLL traded down $0.24 during trading hours on Friday, reaching $161.64. 318,545 shares of the stock traded hands, compared to its average volume of 330,327. The company has a market capitalization of $8.33 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.48 and a beta of 1.74. The company has a quick ratio of 1.95, a current ratio of 2.05 and a debt-to-equity ratio of 0.49. Jones Lang LaSalle Inc has a 52-week low of $119.79 and a 52-week high of $173.32. The company’s 50-day simple moving average is $142.47 and its two-hundred day simple moving average is $139.43.
Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.73 by $0.79. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Jones Lang LaSalle had a return on equity of 15.64% and a net margin of 2.64%. Jones Lang LaSalle’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $3.02 EPS. As a group, sell-side analysts forecast that Jones Lang LaSalle Inc will post 12.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Jones Lang LaSalle’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, November 14th. Jones Lang LaSalle’s dividend payout ratio (DPR) is currently 7.02%.
Jones Lang LaSalle declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 5th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 2.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
Jones Lang LaSalle Company Profile
Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.
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