Olstein Capital Management L.P. Sells 8,500 Shares of Jones Lang LaSalle Incorporated $JLL

Olstein Capital Management L.P. cut its holdings in Jones Lang LaSalle Incorporated (NYSE:JLL) by 30.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,500 shares of the financial services provider’s stock after selling 8,500 shares during the period. Olstein Capital Management L.P.’s holdings in Jones Lang LaSalle were worth $5,816,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of JLL. FJ Capital Management LLC grew its position in shares of Jones Lang LaSalle by 38.5% in the second quarter. FJ Capital Management LLC now owns 22,352 shares of the financial services provider’s stock valued at $5,717,000 after purchasing an additional 6,214 shares in the last quarter. Bank of Montreal Can boosted its stake in Jones Lang LaSalle by 22.6% in the 2nd quarter. Bank of Montreal Can now owns 9,547 shares of the financial services provider’s stock worth $2,442,000 after purchasing an additional 1,761 shares during the period. Hennessy Advisors Inc. purchased a new position in Jones Lang LaSalle during the 3rd quarter valued at about $40,417,000. Acadian Asset Management LLC increased its position in shares of Jones Lang LaSalle by 270.3% during the first quarter. Acadian Asset Management LLC now owns 25,052 shares of the financial services provider’s stock valued at $6,206,000 after buying an additional 18,287 shares during the period. Finally, Boston Partners purchased a new stake in shares of Jones Lang LaSalle in the second quarter worth about $12,186,000. 94.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Jones Lang LaSalle

In related news, CEO Christian Ulbrich sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $330.33, for a total transaction of $1,651,650.00. Following the transaction, the chief executive officer directly owned 134,685 shares of the company’s stock, valued at approximately $44,490,496.05. This trade represents a 3.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 20,000 shares of company stock worth $6,609,091. 0.91% of the stock is currently owned by corporate insiders.

Jones Lang LaSalle Stock Performance

Jones Lang LaSalle stock opened at $335.65 on Friday. Jones Lang LaSalle Incorporated has a fifty-two week low of $194.36 and a fifty-two week high of $347.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.31 and a current ratio of 2.31. The stock has a market cap of $15.84 billion, a P/E ratio of 25.74 and a beta of 1.42. The firm’s fifty day moving average price is $320.74 and its 200-day moving average price is $296.61.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Wednesday, November 5th. The financial services provider reported $4.50 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.26. Jones Lang LaSalle had a return on equity of 11.10% and a net margin of 2.49%.The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same quarter in the prior year, the firm earned $3.50 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. On average, equities research analysts expect that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current fiscal year.

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.