Jones Lang LaSalle (NYSE:JLL) Sets New 1-Year High - Here's What Happened

Jones Lang LaSalle Incorporated (NYSE:JLL - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $280.63 and last traded at $279.82, with a volume of 474654 shares trading hands. The stock had previously closed at $267.86.

Analyst Ratings Changes

A number of brokerages have recently commented on JLL. StockNews.com raised shares of Jones Lang LaSalle from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 13th. Raymond James upped their target price 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 upped their price objective on shares of Jones Lang LaSalle from $240.00 to $250.00 and gave the stock a "market perform" rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $246.80.

Jones Lang LaSalle Price Performance

The firm has a market cap of $13.28 billion, a P/E ratio of 33.61 and a beta of 1.37. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $261.67 and a two-hundred day moving average of $230.07.

Jones Lang LaSalle (NYSE:JLL - Get Free Report) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.30 by $0.25. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.48 billion. Jones Lang LaSalle had a return on equity of 8.03% and a net margin of 1.76%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. On average, sell-side analysts anticipate that Jones Lang LaSalle Incorporated will post 12.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Jones Lang LaSalle

Several institutional investors have recently bought and sold shares of JLL. Swedbank AB purchased a new position in shares of Jones Lang LaSalle during the 1st quarter valued at $97,018,000. EdgePoint Investment Group Inc. lifted its stake in Jones Lang LaSalle by 27.3% in 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 purchasing an additional 443,992 shares during the last quarter. Select Equity Group L.P. bought a new position in shares of Jones Lang LaSalle during the second quarter valued at about $55,152,000. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 acquiring an additional 181,246 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings 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 valued at $39,456,000 after acquiring an additional 146,150 shares during the period. Hedge funds and other institutional investors own 94.80% of the company's stock.

Jones Lang LaSalle Company Profile

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.

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