Jones Lang LaSalle (NYSE:JLL) Shares Down 6.2%

Shares of Jones Lang LaSalle Inc (NYSE:JLL) dropped 6.2% during mid-day trading on Wednesday . The stock traded as low as $129.99 and last traded at $130.66, approximately 598,244 shares traded hands during trading. An increase of 70% from the average daily volume of 352,439 shares. The stock had previously closed at $139.26.

JLL has been the topic of several research reports. UBS Group raised their price objective on Jones Lang LaSalle from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Monday. Goldman Sachs Group raised Jones Lang LaSalle from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $183.00 to $206.00 in a report on Friday, May 10th. JPMorgan Chase & Co. initiated coverage on Jones Lang LaSalle in a report on Wednesday, July 17th. They set an “overweight” rating and a $140.23 price objective on the stock. Keefe, Bruyette & Woods lowered Jones Lang LaSalle from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 17th. Finally, Zacks Investment Research lowered Jones Lang LaSalle from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $173.91.

The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $140.58. The company has a market capitalization of $7.16 billion, a PE ratio of 10.67, a PEG ratio of 1.30 and a beta of 1.75.

Jones Lang LaSalle (NYSE:JLL) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.33 by $0.61. Jones Lang LaSalle had a return on equity of 15.79% and a net margin of 2.76%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the company posted $2.26 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that Jones Lang LaSalle Inc will post 12.13 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JLL. Dimensional Fund Advisors LP lifted its position in Jones Lang LaSalle by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 765,479 shares of the financial services provider’s stock valued at $96,926,000 after purchasing an additional 34,602 shares during the last quarter. FMR LLC lifted its position in Jones Lang LaSalle by 6.2% in the fourth quarter. FMR LLC now owns 527,152 shares of the financial services provider’s stock valued at $66,737,000 after purchasing an additional 30,788 shares during the last quarter. Geode Capital Management LLC lifted its position in Jones Lang LaSalle by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 454,778 shares of the financial services provider’s stock valued at $57,537,000 after purchasing an additional 23,294 shares during the last quarter. Deutsche Bank AG lifted its position in Jones Lang LaSalle by 11.4% in the fourth quarter. Deutsche Bank AG now owns 87,362 shares of the financial services provider’s stock valued at $11,057,000 after purchasing an additional 8,949 shares during the last quarter. Finally, Huntington National Bank lifted its position in Jones Lang LaSalle by 141.9% in the first quarter. Huntington National Bank now owns 849 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 498 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

About Jones Lang LaSalle (NYSE:JLL)

Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.

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