Castleark Management LLC Reduces Position in Jones Lang LaSalle Incorporated (NYSE:JLL)

Castleark Management LLC trimmed its holdings in shares of Jones Lang LaSalle Incorporated (NYSE:JLL) by 3.5% in the 3rd quarter, Holdings Channel reports. The firm owned 35,610 shares of the financial services provider’s stock after selling 1,280 shares during the quarter. Castleark Management LLC’s holdings in Jones Lang LaSalle were worth $9,608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JLL. Wealth Enhancement Advisory Services LLC grew its position in shares of Jones Lang LaSalle by 782.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,113 shares of the financial services provider’s stock worth $1,871,000 after buying an additional 8,080 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Jones Lang LaSalle by 29.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,635 shares of the financial services provider’s stock valued at $2,869,000 after purchasing an additional 2,430 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Jones Lang LaSalle during the third quarter valued at approximately $1,689,000. Loomis Sayles & Co. L P bought a new position in Jones Lang LaSalle in the third quarter worth approximately $2,053,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Jones Lang LaSalle during the third quarter worth $1,322,000. Institutional investors own 94.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wolfe Research upgraded Jones Lang LaSalle from a “peer perform” rating to an “outperform” rating and set a $353.00 price target on the stock in a report on Monday, November 25th. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Keefe, Bruyette & Woods raised their price target on shares of Jones Lang LaSalle from $280.00 to $292.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group started coverage on shares of Jones Lang LaSalle in a research note on Friday. They issued a “buy” rating and a $352.00 target price for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Jones Lang LaSalle presently has an average rating of “Buy” and an average target price of $283.00.

Jones Lang LaSalle Stock Performance

Shares of JLL stock opened at $277.34 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.29 and a quick ratio of 2.29. The business has a fifty day moving average of $268.56 and a 200 day moving average of $243.05. The firm has a market capitalization of $13.16 billion, a price-to-earnings ratio of 28.04 and a beta of 1.34. Jones Lang LaSalle Incorporated has a 1 year low of $162.93 and a 1 year high of $288.50.

Jones Lang LaSalle (NYSE:JLL) last issued its earnings results on Wednesday, November 6th. The financial services provider reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.83. Jones Lang LaSalle had a return on equity of 8.95% and a net margin of 2.12%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. Jones Lang LaSalle’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts expect that Jones Lang LaSalle Incorporated will post 13.37 earnings per share for the current year.

About Jones Lang LaSalle

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.