Long Pond Capital LP Takes $72.30 Million Position in Jones Lang LaSalle Inc (NYSE:JLL)

Long Pond Capital LP bought a new stake in Jones Lang LaSalle Inc (NYSE:JLL) during the 2nd quarter, HoldingsChannel reports. The fund bought 513,873 shares of the financial services provider’s stock, valued at approximately $72,297,000. Jones Lang LaSalle comprises approximately 2.2% of Long Pond Capital LP’s holdings, making the stock its 14th biggest position.

Several other large investors have also recently modified their holdings of the company. First Republic Investment Management Inc. boosted its holdings in shares of Jones Lang LaSalle by 4.5% in the first quarter. First Republic Investment Management Inc. now owns 1,978 shares of the financial services provider’s stock valued at $305,000 after acquiring an additional 85 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Jones Lang LaSalle by 62.2% in the first quarter. Parallel Advisors LLC now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 89 shares in the last quarter. Magnus Financial Group LLC boosted its holdings in shares of Jones Lang LaSalle by 4.3% in the first quarter. Magnus Financial Group LLC now owns 2,203 shares of the financial services provider’s stock valued at $340,000 after acquiring an additional 91 shares in the last quarter. State Treasurer State of Michigan boosted its holdings in shares of Jones Lang LaSalle by 0.6% in the first quarter. State Treasurer State of Michigan now owns 16,300 shares of the financial services provider’s stock valued at $2,513,000 after acquiring an additional 100 shares in the last quarter. Finally, AGF Investments Inc. boosted its holdings in shares of Jones Lang LaSalle by 6.1% in the first quarter. AGF Investments Inc. now owns 1,840 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 106 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE JLL opened at $142.02 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.44. Jones Lang LaSalle Inc has a 52 week low of $119.79 and a 52 week high of $173.32. The firm has a 50-day moving average price of $137.72 and a 200 day moving average price of $143.91. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.75.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $2.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.61. Jones Lang LaSalle had a net margin of 2.76% and a return on equity of 15.79%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the business earned $2.26 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts expect that Jones Lang LaSalle Inc will post 12.13 EPS for the current fiscal year.

Several analysts have recently weighed in on JLL shares. UBS Group lifted their target price on shares of Jones Lang LaSalle from $175.00 to $178.00 and gave the company a “buy” rating in a report on Monday, August 12th. DA Davidson initiated coverage on shares of Jones Lang LaSalle in a research note on Thursday, July 11th. They issued a “buy” rating for the company. Compass Point initiated coverage on shares of Jones Lang LaSalle in a research note on Wednesday, July 10th. They issued a “buy” rating and a $180.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Jones Lang LaSalle in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $140.23 price objective for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Jones Lang LaSalle has a consensus rating of “Hold” and an average price target of $173.91.

About Jones Lang LaSalle

Jones Lang LaSalle Incorporated, a professional services company, provides commercial real estate and investment management services worldwide. It offers a range of real estate services, including agency leasing, logistics and supply-chain management, corporate finance, mortgage origination and servicing, debt placement, project and development management/design, digital, property management, energy and sustainability, real estate investment banking, integrated facilities management, research, investment management and advisory, strategic consulting and advisory, investment sale, tenant representation, lease administration, and valuations.

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Institutional Ownership by Quarter for Jones Lang LaSalle (NYSE:JLL)

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