Southpoint Capital Advisors LP Sells 350,000 Shares of Jones Lang LaSalle Incorporated (NYSE:JLL)

Southpoint Capital Advisors LP lessened its stake in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 70.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,000 shares of the financial services provider’s stock after selling 350,000 shares during the quarter. Southpoint Capital Advisors LP’s holdings in Jones Lang LaSalle were worth $40,472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tidal Investments LLC bought a new stake in Jones Lang LaSalle during the 1st quarter worth approximately $228,000. Comerica Bank increased its holdings in shares of Jones Lang LaSalle by 24.5% in the first quarter. Comerica Bank now owns 26,681 shares of the financial services provider’s stock worth $5,205,000 after purchasing an additional 5,255 shares during the period. GAMMA Investing LLC raised its position in shares of Jones Lang LaSalle by 27.1% in the second quarter. GAMMA Investing LLC now owns 534 shares of the financial services provider’s stock worth $110,000 after buying an additional 114 shares in the last quarter. Tandem Capital Management Corp ADV boosted its stake in Jones Lang LaSalle by 0.4% during the second quarter. Tandem Capital Management Corp ADV now owns 13,747 shares of the financial services provider’s stock valued at $2,779,000 after buying an additional 55 shares during the period. Finally, Mather Group LLC. grew its position in Jones Lang LaSalle by 446.9% during the second quarter. Mather Group LLC. now owns 268 shares of the financial services provider’s stock worth $52,000 after buying an additional 219 shares in the last quarter. 94.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on JLL shares. Keefe, Bruyette & Woods lifted their target price on shares of Jones Lang LaSalle from $280.00 to $292.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Wolfe Research upgraded shares of Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 target price for the company in a research report on Monday, November 25th. Finally, StockNews.com upgraded Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $271.50.

Jones Lang LaSalle Price Performance

JLL stock opened at $280.64 on Friday. The firm has a 50-day moving average of $267.33 and a 200 day moving average of $239.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.29. The company has a market cap of $13.31 billion, a P/E ratio of 28.38 and a beta of 1.37. Jones Lang LaSalle Incorporated has a 1 year low of $154.43 and a 1 year high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $3.50 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.83. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period in the prior year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Jones Lang LaSalle Incorporated will post 13.17 EPS for the current year.

Jones Lang LaSalle 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.