Jones Lang LaSalle Incorporated (NYSE:JLL) Sees Significant Decrease in Short Interest

Jones Lang LaSalle Incorporated (NYSE:JLL) was the recipient of a significant decrease in short interest during the month of 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. Currently, 2.0% of the company’s stock are sold short. Based on an average daily trading volume, of 267,200 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted 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. Equity Investment Corp increased its holdings in shares of Jones Lang LaSalle by 2.9% during the fourth quarter. Equity Investment Corp now owns 418,115 shares of the financial services provider’s stock worth $78,969,000 after buying an additional 11,785 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Jones Lang LaSalle by 112.2% during the fourth quarter. Allianz Asset Management GmbH now owns 60,729 shares of the financial services provider’s stock worth $11,470,000 after buying an additional 32,104 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Jones Lang LaSalle during the fourth quarter worth approximately $5,148,000. Finally, TD Asset Management Inc acquired a new stake in shares of Jones Lang LaSalle during the fourth quarter worth approximately $10,722,000. Institutional investors own 94.80% of the company’s stock.

Jones Lang LaSalle Stock Up 2.4 %

NYSE JLL opened at $203.48 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a 50-day simple moving average of $197.95 and a 200 day simple moving average of $188.26. Jones Lang LaSalle has a twelve month low of $119.46 and a twelve month high of $213.33. The stock has a market cap of $9.68 billion, a PE ratio of 32.71 and a beta of 1.38.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Monday, May 6th. The financial services provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.93. The firm had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Jones Lang LaSalle had a net margin of 1.42% and a return on equity of 6.55%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. On average, research analysts forecast that Jones Lang LaSalle will post 12.36 EPS for the current year.

Wall Street Analyst Weigh In

JLL has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Jones Lang LaSalle from $215.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, June 21st. Raymond James raised shares of Jones Lang LaSalle from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $218.00 to $246.00 in a research report on Wednesday, April 3rd. Jefferies Financial Group began coverage on Jones Lang LaSalle in a research report on Wednesday, April 10th. They issued a “buy” rating and a $246.00 price target on the stock. StockNews.com downgraded Jones Lang LaSalle from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 21st. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Jones Lang LaSalle in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Jones Lang LaSalle currently has a consensus rating of “Moderate Buy” and an average target price of $216.67.

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.