Jones Lang LaSalle Q3 EPS Beats by $0.26; Goldman Raises Target to $407

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Jones Lang LaSalle reported Q3 EPS of $4.50, beating consensus by $0.26, on revenue of $6.51 billion, up 10.9% year-over-year. Goldman Sachs raised its price target from $361 to $407 with a Buy rating, while CEO Christian Ulbrich sold 5,000 shares at an average $330.33 per share.

1. Institutional Stake Increase

Cerity Partners LLC boosted its holdings in Jones Lang LaSalle by 6.8% during the third quarter, adding 2,488 shares to bring its total to 38,878. According to the most recent Form 13F filing with the SEC, Cerity now owns 0.08% of the real estate services firm, with its position valued at approximately 11.6 million. Other institutions have also been active: Chilton Capital Management initiated a stake worth roughly 26,000 in Q2; Thurston Springer Miller Herd & Titak increased its position by 322.6% to 131 shares; Caldwell Trust Co established a new holding valued at about 38,000; Steph & Co. opened a 50,000 position in Q3; and Traub Capital Management acquired a 52,000 stake in Q2. Overall, institutional investors account for 94.8% of JLL’s outstanding shares.

2. Insider Transactions

Chief Executive Officer Christian Ulbrich sold 5,000 shares on November 25, reducing his ownership by 3.58% to 134,685 shares. The sale generated proceeds of approximately 1.65 million, according to an SEC filing. Over the past 90 days, insiders have collectively sold 20,000 shares valued at around 6.6 million, leaving corporate insiders with 0.91% ownership.

3. Analyst Ratings and Recent Results

Wall Street’s view of JLL has grown more favorable in recent months. One firm upgraded its recommendation to strong-buy, while another raised its target to 407 and maintained a buy stance. Two additional brokerages lifted their targets to 405 and 360, respectively, and reissued outperform or buy opinions. On the earnings front, JLL posted third-quarter EPS of 4.50, beating the consensus by 0.26, on revenue of 6.51 billion, slightly above estimates. Revenue climbed 10.9% year-over-year, and return on equity reached 11.1% with a net margin of 2.49%. Analysts now forecast full-year EPS of 16.45.

Sources

DD