Short Interest in Jones Lang LaSalle Incorporated (NYSE:JLL) Drops By 5.2%

Jones Lang LaSalle Incorporated (NYSE:JLL) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 925,700 shares, a decrease of 5.2% from the May 31st total of 976,500 shares. Based on an average daily volume of 267,200 shares, the short-interest ratio is presently 3.5 days. Currently, 2.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on JLL. Raymond James upgraded Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $218.00 to $246.00 in a research report on Wednesday, April 3rd. Keefe, Bruyette & Woods upped their price target on Jones Lang LaSalle from $190.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. increased their price objective on Jones Lang LaSalle from $215.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Wolfe Research restated a “peer perform” rating on shares of Jones Lang LaSalle in a research report on Tuesday, April 9th. Finally, UBS Group upped 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. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and a consensus target price of $223.33.

Hedge Funds Weigh In On Jones Lang LaSalle

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EdgePoint Investment Group Inc. grew its position in shares of Jones Lang LaSalle by 27.3% during 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 buying an additional 443,992 shares in the last quarter. Morgan Stanley grew its position in shares of Jones Lang LaSalle by 2.1% during the third quarter. Morgan Stanley now owns 1,673,462 shares of the financial services provider’s stock worth $236,260,000 after buying an additional 35,004 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Jones Lang LaSalle by 11.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,426,954 shares of the financial services provider’s stock worth $269,512,000 after buying an additional 142,887 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Jones Lang LaSalle by 20.4% during the fourth quarter. Boston Trust Walden Corp now owns 710,236 shares of the financial services provider’s stock worth $134,142,000 after buying an additional 120,105 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Jones Lang LaSalle by 84.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 589,128 shares of the financial services provider’s stock worth $111,270,000 after buying an additional 270,404 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

Jones Lang LaSalle Stock Up 1.5 %

Shares of NYSE:JLL opened at $206.51 on Thursday. The business has a 50-day moving average price of $198.44 and a 200 day moving average price of $188.39. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 33.20 and a beta of 1.38. Jones Lang LaSalle has a 12-month low of $119.46 and a 12-month high of $213.33.

Jones Lang LaSalle (NYSE:JLL) last released its earnings results on Monday, May 6th. The financial services provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.93. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.82 billion. Jones Lang LaSalle had a return on equity of 6.55% and a net margin of 1.42%. Jones Lang LaSalle’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. Sell-side analysts expect that Jones Lang LaSalle will post 12.36 EPS 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.