Bank of Montreal Can grew its position in shares of ManpowerGroup Inc. (NYSE:MAN) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,393 shares of the business services provider’s stock after purchasing an additional 2,614 shares during the quarter. Bank of Montreal Can owned approximately 0.06% of ManpowerGroup worth $3,612,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in MAN. Parallel Advisors LLC lifted its stake in shares of ManpowerGroup by 144.4% in the second quarter. Parallel Advisors LLC now owns 352 shares of the business services provider’s stock worth $34,000 after acquiring an additional 208 shares during the period. CWM LLC lifted its stake in shares of ManpowerGroup by 114.4% in the second quarter. CWM LLC now owns 373 shares of the business services provider’s stock worth $36,000 after acquiring an additional 199 shares during the period. Destination Wealth Management acquired a new position in shares of ManpowerGroup in the second quarter worth approximately $58,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of ManpowerGroup in the second quarter worth approximately $95,000. Finally, Machina Capital S.A.S. lifted its stake in shares of ManpowerGroup by 273.5% in the second quarter. Machina Capital S.A.S. now owns 1,042 shares of the business services provider’s stock worth $101,000 after acquiring an additional 763 shares during the period. 93.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on MAN. Royal Bank of Canada cut their price objective on ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Bank of America cut their price objective on ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on ManpowerGroup from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Credit Suisse Group lowered ManpowerGroup from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $88.00 to $83.00 in a research note on Wednesday, July 10th. Finally, ValuEngine lowered ManpowerGroup from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $93.30.
Shares of MAN opened at $85.95 on Thursday. ManpowerGroup Inc. has a 52-week low of $61.57 and a 52-week high of $97.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50 day moving average price is $85.72 and its two-hundred day moving average price is $88.46. The firm has a market cap of $5.10 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 3.61 and a beta of 1.60.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings results on Friday, July 19th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.06. ManpowerGroup had a return on equity of 19.19% and a net margin of 2.34%. The firm had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year. Research analysts predict that ManpowerGroup Inc. will post 7.56 EPS for the current fiscal year.
ManpowerGroup announced that its board has approved a stock buyback plan on Friday, August 2nd that permits the company to buyback 6,000,000 shares. This buyback authorization permits the business services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands.
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