Granite Investment Partners LLC Takes Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Granite Investment Partners LLC purchased a new position in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,734 shares of the financial services provider’s stock, valued at approximately $4,256,000.

Several other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC boosted its position in Jones Lang LaSalle by 368.4% in the 1st quarter. SG Americas Securities LLC now owns 21,006 shares of the financial services provider’s stock valued at $4,098,000 after buying an additional 16,521 shares during the period. Retirement Systems of Alabama grew its stake in Jones Lang LaSalle by 25.5% during the 1st quarter. Retirement Systems of Alabama now owns 89,283 shares of the financial services provider’s stock worth $17,418,000 after purchasing an additional 18,156 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Jones Lang LaSalle by 112.2% during the 4th quarter. Allianz Asset Management GmbH now owns 60,729 shares of the financial services provider’s stock worth $11,470,000 after purchasing an additional 32,104 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Jones Lang LaSalle by 433.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,546 shares of the financial services provider’s stock valued at $2,370,000 after buying an additional 9,381 shares during the period. Finally, BDF Gestion purchased a new stake in shares of Jones Lang LaSalle during the second quarter worth approximately $3,550,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Jones Lang LaSalle from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. UBS Group raised their price target on Jones Lang LaSalle from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods increased their price objective on Jones Lang LaSalle from $240.00 to $250.00 and gave the company a “market perform” rating in a report on Thursday, August 8th. Finally, Raymond James boosted their target price on Jones Lang LaSalle from $246.00 to $268.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $246.80.

Jones Lang LaSalle Stock Down 0.3 %

Shares of NYSE JLL opened at $262.58 on Friday. The stock has a market cap of $12.49 billion, a PE ratio of 42.22 and a beta of 1.37. Jones Lang LaSalle Incorporated has a 52-week low of $119.46 and a 52-week high of $265.63. The business has a 50-day moving average price of $245.88 and a 200 day moving average price of $212.45. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.31.

Jones Lang LaSalle (NYSE:JLL) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.25. Jones Lang LaSalle had a net margin of 1.76% and a return on equity of 8.03%. The business had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the company posted $0.50 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that Jones Lang LaSalle Incorporated will post 12.54 earnings per share for the current year.

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.