Olstein Capital Management L.P. Lowers Stock Holdings in Jones Lang LaSalle Incorporated (NYSE:JLL)

Olstein Capital Management L.P. reduced its stake in Jones Lang LaSalle Incorporated (NYSE:JLL - Free Report) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,500 shares of the financial services provider's stock after selling 16,500 shares during the quarter. Olstein Capital Management L.P. owned 0.06% of Jones Lang LaSalle worth $7,420,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of JLL. Swedbank AB acquired a new position in Jones Lang LaSalle in the 1st quarter valued at $97,018,000. EdgePoint Investment Group Inc. increased its stake in shares of Jones Lang LaSalle by 27.3% during the first quarter. EdgePoint Investment Group Inc. now owns 2,072,046 shares of the financial services provider's stock worth $404,235,000 after acquiring an additional 443,992 shares during the period. Select Equity Group L.P. acquired a new stake in Jones Lang LaSalle in the second quarter valued at about $55,152,000. Massachusetts Financial Services Co. MA boosted its holdings in Jones Lang LaSalle by 20.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,049,392 shares of the financial services provider's stock valued at $215,419,000 after purchasing an additional 181,246 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in Jones Lang LaSalle by 167,988.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,237 shares of the financial services provider's stock worth $39,456,000 after purchasing an additional 146,150 shares during the period. Institutional investors and hedge funds own 94.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com raised Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a report on Friday, September 13th. Raymond James boosted their price objective on shares of Jones Lang LaSalle from $246.00 to $268.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Jones Lang LaSalle from $240.00 to $250.00 and gave the company a "market perform" rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $246.80.

Jones Lang LaSalle Price Performance

NYSE:JLL traded up $3.25 during mid-day trading on Thursday, hitting $265.34. 397,491 shares of the company's stock traded hands, compared to its average volume of 286,775. Jones Lang LaSalle Incorporated has a 1 year low of $136.83 and a 1 year high of $288.50. The company has a market cap of $12.59 billion, a PE ratio of 33.06 and a beta of 1.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.58 and a current ratio of 2.58. The firm's 50 day simple moving average is $262.45 and its 200 day simple moving average is $231.03.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $0.83. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.62 billion. Jones Lang LaSalle had a return on equity of 8.03% and a net margin of 1.76%. Jones Lang LaSalle's revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.01 EPS. Sell-side analysts expect that Jones Lang LaSalle Incorporated will post 12.59 EPS for the current year.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated operates as a commercial real estate and investment management company. It engages in the buying, building, occupying, managing, and investing in a commercial, industrial, hotel, residential, and retail properties in Americas, Europe, the Middle East, Africa, and the Asia Pacific.