Granite Investment Partners LLC Increases Holdings in Jones Lang LaSalle Incorporated $JLL

Granite Investment Partners LLC increased its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,106 shares of the financial services provider’s stock after purchasing an additional 2,106 shares during the quarter. Granite Investment Partners LLC’s holdings in Jones Lang LaSalle were worth $4,120,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in JLL. Chilton Capital Management LLC purchased a new stake in Jones Lang LaSalle during the 2nd quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Jones Lang LaSalle by 322.6% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 131 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 100 shares during the last quarter. SVB Wealth LLC purchased a new position in Jones Lang LaSalle during the first quarter valued at $38,000. Traub Capital Management LLC purchased a new stake in Jones Lang LaSalle in the 2nd quarter worth $52,000. Finally, Whittier Trust Co. boosted its holdings in shares of Jones Lang LaSalle by 40.9% during the 2nd quarter. Whittier Trust Co. now owns 217 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 63 shares during the last quarter. 94.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on JLL shares. The Goldman Sachs Group lifted their target price on Jones Lang LaSalle from $361.00 to $407.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. JPMorgan Chase & Co. lifted their price objective on Jones Lang LaSalle from $285.00 to $372.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Barclays started coverage on Jones Lang LaSalle in a research report on Tuesday. They set an “equal weight” rating and a $351.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Jones Lang LaSalle in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Jones Lang LaSalle has a consensus rating of “Moderate Buy” and a consensus target price of $342.14.

Jones Lang LaSalle Stock Up 0.2%

NYSE JLL opened at $324.39 on Wednesday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.16. Jones Lang LaSalle Incorporated has a 52 week low of $194.36 and a 52 week high of $335.83. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 27.89 and a beta of 1.44. The company has a fifty day moving average of $303.89 and a two-hundred day moving average of $280.06.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Wednesday, November 5th. The financial services provider reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.26. Jones Lang LaSalle had a net margin of 2.28% and a return on equity of 10.63%. The firm had revenue of $6.51 billion during the quarter, compared to analyst estimates of $6.49 billion. During the same quarter last year, the business earned $3.50 EPS. The business’s revenue was up 10.9% on a year-over-year basis. On average, analysts predict that Jones Lang LaSalle Incorporated will post 16.45 earnings per share for the current year.

Insider Activity

In other news, CEO Christian Ulbrich sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $330.33, for a total value of $1,651,650.00. Following the sale, the chief executive officer directly owned 134,685 shares in the company, valued at approximately $44,490,496.05. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.91% of the stock is owned by company insiders.

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.