Jones Lang LaSalle Incorporated (NYSE:JLL) Short Interest Down 13.5% in February

Jones Lang LaSalle Incorporated (NYSE:JLL) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 740,967 shares, a drop of 13.5% from the February 12th total of 856,115 shares. Based on an average daily volume of 704,739 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.6% of the shares of the company are sold short. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 704,739 shares, the days-to-cover ratio is currently 1.1 days.

Insider Activity

In other news, Director Deborah H. Mcaneny sold 2,500 shares of Jones Lang LaSalle stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $300.50, for a total transaction of $751,250.00. Following the sale, the director directly owned 14,985 shares of the company’s stock, valued at approximately $4,502,992.50. This trade represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.91% of the company’s stock.

Institutional Trading of Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp raised its holdings in Jones Lang LaSalle by 184,969.0% in the fourth quarter. M&T Bank Corp now owns 3,864,241 shares of the financial services provider’s stock worth $1,300,201,000 after purchasing an additional 3,862,153 shares in the last quarter. AQR Capital Management LLC grew its holdings in Jones Lang LaSalle by 426.7% during the fourth quarter. AQR Capital Management LLC now owns 899,625 shares of the financial services provider’s stock worth $302,697,000 after acquiring an additional 728,824 shares during the period. Norges Bank purchased a new stake in Jones Lang LaSalle in the 2nd quarter worth approximately $160,187,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Jones Lang LaSalle during the 4th quarter valued at approximately $132,263,000. Finally, EdgePoint Investment Group Inc. grew 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 buying an additional 386,184 shares during the period. Hedge funds and other institutional investors own 94.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JLL. UBS Group lifted their target price on shares of Jones Lang LaSalle from $410.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Barclays lowered their price objective on shares of Jones Lang LaSalle from $360.00 to $355.00 and set an “equal weight” rating for the company in a research note on Friday. Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. The Goldman Sachs Group upped their price target on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Finally, Zacks Research raised Jones Lang LaSalle from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $363.17.

Jones Lang LaSalle Stock Up 1.1%

Shares of JLL traded up $3.16 on Tuesday, hitting $303.73. 193,951 shares of the stock traded hands, compared to its average volume of 554,554. The company has a market capitalization of $14.23 billion, a PE ratio of 18.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.23 and a current ratio of 2.23. Jones Lang LaSalle has a one year low of $194.36 and a one year high of $363.06. The business has a 50 day simple moving average of $327.20 and a 200 day simple moving average of $318.34.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $8.71 earnings per share for the quarter, beating the consensus estimate of $7.25 by $1.46. Jones Lang LaSalle had a net margin of 3.03% and a return on equity of 12.50%. The business had revenue of $7.61 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the previous year, the firm earned $6.15 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that Jones Lang LaSalle 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.