Jones Lang LaSalle (NYSE:JLL) Reaches New 12-Month High – Still a Buy?

Shares of Jones Lang LaSalle Incorporated (NYSE:JLL) hit a new 52-week high during trading on Monday . The stock traded as high as $347.81 and last traded at $344.9350, with a volume of 5858 shares traded. The stock had previously closed at $346.96.

Analyst Upgrades and Downgrades

JLL has been the subject of a number of research reports. Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Jones Lang LaSalle in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on Jones Lang LaSalle from $317.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Barclays initiated coverage on Jones Lang LaSalle in a research note on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on Jones Lang LaSalle from $361.00 to $407.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $342.14.

Jones Lang LaSalle Price Performance

The business’s 50-day moving average price is $319.51 and its 200 day moving average price is $295.38. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $16.00 billion, a P/E ratio of 26.00 and a beta of 1.44.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.26. The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.49 billion. Jones Lang LaSalle had a net margin of 2.49% and a return on equity of 11.10%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.50 EPS. Analysts anticipate that Jones Lang LaSalle Incorporated will post 16.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Jones Lang LaSalle news, CEO Christian Ulbrich sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $330.33, for a total value of $1,651,650.00. Following the transaction, the chief executive officer directly owned 134,685 shares in the company, valued at $44,490,496.05. This represents a 3.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 20,000 shares of company stock worth $6,609,091 in the last three months. 0.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EdgePoint Investment Group Inc. lifted its position in Jones Lang LaSalle by 21.0% during the second quarter. EdgePoint Investment Group Inc. now owns 2,221,528 shares of the financial services provider’s stock valued at $568,222,000 after purchasing an additional 386,184 shares during the last quarter. Select Equity Group L.P. raised its position in shares of Jones Lang LaSalle by 50.7% during the 1st quarter. Select Equity Group L.P. now owns 1,062,069 shares of the financial services provider’s stock valued at $263,298,000 after buying an additional 357,469 shares in the last quarter. Swedbank AB lifted its holdings in shares of Jones Lang LaSalle by 5.4% during the 3rd quarter. Swedbank AB now owns 989,199 shares of the financial services provider’s stock worth $295,058,000 after acquiring an additional 51,050 shares during the last quarter. Norges Bank bought a new position in Jones Lang LaSalle in the second quarter valued at $160,187,000. Finally, Alliancebernstein L.P. lifted its position in shares of Jones Lang LaSalle by 5.2% in the 3rd quarter. Alliancebernstein L.P. now owns 598,980 shares of the financial services provider’s stock worth $178,664,000 after purchasing an additional 29,560 shares during the period. 94.80% of the stock is currently owned by 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.