Triodos Investment Management BV lifted its holdings in Jones Lang LaSalle Inc (NYSE:JLL) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,120 shares of the financial services provider’s stock after purchasing an additional 1,020 shares during the period. Jones Lang LaSalle accounts for about 3.5% of Triodos Investment Management BV’s investment portfolio, making the stock its 13th biggest holding. Triodos Investment Management BV’s holdings in Jones Lang LaSalle were worth $13,923,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in JLL. Oppenheimer & Co. Inc. grew its position in Jones Lang LaSalle by 3.4% in the third quarter. Oppenheimer & Co. Inc. now owns 2,137 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 70 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Jones Lang LaSalle by 0.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 23,152 shares of the financial services provider’s stock valued at $3,257,000 after acquiring an additional 78 shares during the period. Covington Capital Management grew its position in shares of Jones Lang LaSalle by 32.4% in the 2nd quarter. Covington Capital Management now owns 331 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 81 shares during the period. Assetmark Inc. grew its position in shares of Jones Lang LaSalle by 12.5% in the 2nd quarter. Assetmark Inc. now owns 872 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 97 shares during the period. Finally, Trust Co. of Oklahoma grew its position in shares of Jones Lang LaSalle by 2.5% in the 3rd quarter. Trust Co. of Oklahoma now owns 4,030 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 100 shares during the period. 82.72% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE JLL traded down $0.24 during mid-day trading on Friday, reaching $161.64. 318,545 shares of the company were exchanged, compared to its average volume of 330,327. The company’s 50-day simple moving average is $142.47 and its 200-day simple moving average is $139.43. The company has a quick ratio of 1.95, a current ratio of 2.05 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $8.33 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.48 and a beta of 1.74. Jones Lang LaSalle Inc has a twelve month low of $119.79 and a twelve month high of $173.32.
Jones Lang LaSalle announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.43 dividend. This is a boost from Jones Lang LaSalle’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, November 14th. This represents a $1.72 annualized dividend and a yield of 1.06%. Jones Lang LaSalle’s payout ratio is 7.02%.
JLL has been the subject of a number of research reports. UBS Group raised their target price on shares of Jones Lang LaSalle from $178.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. initiated coverage on shares of Jones Lang LaSalle in a research note on Wednesday, July 17th. They set an “overweight” rating and a $140.23 target price for the company. Finally, Barclays set a $179.00 target price on shares of Jones Lang LaSalle and gave the stock a “buy” rating in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Jones Lang LaSalle presently has an average rating of “Hold” and an average price target of $174.47.
Jones Lang LaSalle Profile
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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