Olstein Capital Management L.P. Lowers Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Olstein Capital Management L.P. lowered its stake in Jones Lang LaSalle Incorporated (NYSE:JLL) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,636 shares of the financial services provider’s stock after selling 201 shares during the quarter. Jones Lang LaSalle comprises about 1.5% of Olstein Capital Management L.P.’s portfolio, making the stock its 14th biggest holding. Olstein Capital Management L.P.’s holdings in Jones Lang LaSalle were worth $9,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in JLL. Norges Bank acquired a new stake in Jones Lang LaSalle in the 4th quarter valued at approximately $97,222,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Jones Lang LaSalle by 84.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 589,128 shares of the financial services provider’s stock valued at $111,270,000 after buying an additional 270,404 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Jones Lang LaSalle by 3,097.2% during the 4th quarter. Epoch Investment Partners Inc. now owns 193,240 shares of the financial services provider’s stock valued at $36,497,000 after acquiring an additional 187,196 shares during the period. Artemis Investment Management LLP acquired a new position in Jones Lang LaSalle in the 1st quarter valued at about $32,639,000. Finally, Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 142,887 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

Jones Lang LaSalle Stock Up 1.5 %

JLL traded up $3.11 on Wednesday, reaching $206.59. The company’s stock had a trading volume of 105,945 shares, compared to its average volume of 272,767. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 32.71 and a beta of 1.38. Jones Lang LaSalle Incorporated has a fifty-two week low of $119.46 and a fifty-two week high of $213.33. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $197.95 and a two-hundred day moving average of $188.26.

Jones Lang LaSalle (NYSE:JLL) last posted its earnings results on Monday, May 6th. The financial services provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.93. Jones Lang LaSalle had a net margin of 1.42% and a return on equity of 6.55%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the firm posted $0.65 EPS. The company’s revenue was up 8.7% on a year-over-year basis. As a group, analysts forecast that Jones Lang LaSalle Incorporated will post 12.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JLL. Jefferies Financial Group assumed coverage on shares of Jones Lang LaSalle in a research note on Wednesday, April 10th. They set a “buy” rating and a $246.00 target price on the stock. StockNews.com cut Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 21st. Raymond James upgraded Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $218.00 to $246.00 in a report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price objective on Jones Lang LaSalle from $215.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Finally, Wolfe Research restated a “peer perform” rating on shares of Jones Lang LaSalle in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Jones Lang LaSalle currently has an average rating of “Moderate Buy” and a consensus price target of $223.33.

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.