Granite Investment Partners LLC Trims Stock Position in Jones Lang LaSalle Incorporated $JLL

Granite Investment Partners LLC trimmed its stake in Jones Lang LaSalle Incorporated (NYSE:JLL) by 50.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,982 shares of the financial services provider’s stock after selling 8,124 shares during the period. Granite Investment Partners LLC’s holdings in Jones Lang LaSalle were worth $2,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Equity Investment Corp purchased a new position in shares of Jones Lang LaSalle in the 3rd quarter valued at approximately $72,132,000. Hennessy Advisors Inc. purchased a new stake in Jones Lang LaSalle in the third quarter worth $40,417,000. Y Intercept Hong Kong Ltd bought a new position in Jones Lang LaSalle in the third quarter worth $1,143,000. FJ Capital Management LLC lifted its position in Jones Lang LaSalle by 38.5% during 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 buying an additional 6,214 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Jones Lang LaSalle by 22.6% during the 2nd quarter. Bank of Montreal Can now owns 9,547 shares of the financial services provider’s stock valued at $2,442,000 after buying an additional 1,761 shares in the last quarter. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Price Performance

Shares of NYSE JLL opened at $303.41 on Tuesday. The firm has a market cap of $14.21 billion, a P/E ratio of 18.49 and a beta of 1.42. Jones Lang LaSalle Incorporated has a twelve month low of $194.36 and a twelve month high of $363.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $337.47 and a 200 day moving average of $317.24.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Wednesday, February 18th. The financial services provider reported $8.71 EPS for the quarter, topping analysts’ consensus estimates of $7.25 by $1.46. Jones Lang LaSalle had a return on equity of 12.50% and a net margin of 3.03%.The business had revenue of $7.61 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter last year, the company earned $6.15 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts expect 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 96 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $332.18, for a total value of $31,889.28. Following the completion of the transaction, the chief executive officer owned 114,685 shares of the company’s stock, valued at approximately $38,096,063.30. The trade was a 0.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 15,000 shares of company stock valued at $4,957,441. 0.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Barclays began coverage on shares of Jones Lang LaSalle in a research report on Tuesday, December 2nd. They set an “equal weight” rating and a $351.00 price target for the company. Wall Street Zen upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. The Goldman Sachs Group boosted their price target on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. UBS Group raised their price objective on Jones Lang LaSalle from $410.00 to $425.00 and gave the company a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods lifted their price objective on Jones Lang LaSalle from $390.00 to $405.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $366.67.

Jones Lang LaSalle 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.