Jones Lang LaSalle Incorporated (NYSE:JLL) Short Interest Update

Jones Lang LaSalle Incorporated (NYSE:JLL) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 891,600 shares, a drop of 10.0% from the September 15th total of 990,600 shares. Based on an average trading volume of 303,600 shares, the days-to-cover ratio is currently 2.9 days. Approximately 1.9% of the shares of the stock are short sold.

Jones Lang LaSalle Trading Down 0.7 %

Shares of JLL stock opened at $267.20 on Thursday. The company has a market cap of $12.71 billion, a P/E ratio of 42.96 and a beta of 1.37. Jones Lang LaSalle has a fifty-two week low of $119.46 and a fifty-two week high of $273.82. The stock has a 50 day simple moving average of $255.71 and a two-hundred day simple moving average of $222.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.58 and a current ratio of 2.58.

Jones Lang LaSalle (NYSE:JLL) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.25. Jones Lang LaSalle had a return on equity of 8.03% and a net margin of 1.76%. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts forecast that Jones Lang LaSalle will post 12.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Jones Lang LaSalle from $240.00 to $250.00 and gave the stock a “market perform” rating in a report on Thursday, August 8th. StockNews.com upgraded shares of Jones Lang LaSalle from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Raymond James boosted their target price on shares of Jones Lang LaSalle from $246.00 to $268.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 25th. UBS Group raised their price target on shares of Jones Lang LaSalle from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Jones Lang LaSalle from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $246.80.

Institutional Trading of Jones Lang LaSalle

A number of hedge funds and other institutional investors have recently bought and sold shares of JLL. SG Americas Securities LLC increased its position in shares of Jones Lang LaSalle by 368.4% during the first quarter. SG Americas Securities LLC now owns 21,006 shares of the financial services provider’s stock worth $4,098,000 after acquiring an additional 16,521 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Jones Lang LaSalle by 25.5% in the first quarter. Retirement Systems of Alabama now owns 89,283 shares of the financial services provider’s stock worth $17,418,000 after purchasing an additional 18,156 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Jones Lang LaSalle by 433.3% in the second quarter. Harbor Capital Advisors Inc. now owns 11,546 shares of the financial services provider’s stock valued at $2,370,000 after purchasing an additional 9,381 shares in the last quarter. BDF Gestion purchased a new position in shares of Jones Lang LaSalle during the second quarter valued at approximately $3,550,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Jones Lang LaSalle in the 1st quarter valued at $1,715,000. Institutional investors own 94.80% of the company’s stock.

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.