Boston Partners increased its stake in ManpowerGroup (NYSE:MAN) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,697,608 shares of the business services provider’s stock after buying an additional 119,340 shares during the period. Boston Partners owned about 5.49% of ManpowerGroup worth $412,838,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of ManpowerGroup by 10.7% in the first quarter. First Manhattan Co. now owns 67,409 shares of the business services provider’s stock valued at $4,871,000 after buying an additional 6,520 shares during the period. Nationwide Fund Advisors raised its position in shares of ManpowerGroup by 20.2% in the first quarter. Nationwide Fund Advisors now owns 145,389 shares of the business services provider’s stock valued at $14,913,000 after buying an additional 24,411 shares during the period. James Investment Research Inc. raised its position in shares of ManpowerGroup by 70.5% in the first quarter. James Investment Research Inc. now owns 343,707 shares of the business services provider’s stock valued at $35,254,000 after buying an additional 142,175 shares during the period. Oakbrook Investments LLC raised its position in shares of ManpowerGroup by 2.7% in the first quarter. Oakbrook Investments LLC now owns 5,805 shares of the business services provider’s stock valued at $595,000 after buying an additional 155 shares during the period. Finally, Deschutes Portfolio Strategy LLC bought a new position in shares of ManpowerGroup during the first quarter valued at about $234,000. Institutional investors own 93.74% of the company’s stock.
Shares of ManpowerGroup (MAN) opened at 108.84 on Thursday. The company has a market capitalization of $7.34 billion, a P/E ratio of 16.65 and a beta of 1.39. ManpowerGroup has a 1-year low of $67.30 and a 1-year high of $119.59. The firm has a 50-day moving average of $110.92 and a 200 day moving average of $103.20.
ManpowerGroup (NYSE:MAN) last issued its quarterly earnings data on Monday, July 24th. The business services provider reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by $0.01. ManpowerGroup had a return on equity of 17.90% and a net margin of 2.24%. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts anticipate that ManpowerGroup will post $6.75 EPS for the current year.
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Several brokerages recently issued reports on MAN. Northcoast Research reiterated a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. BMO Capital Markets upped their target price on shares of ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $111.00 target price (up from $104.00) on shares of ManpowerGroup in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Tuesday, July 4th. Finally, BidaskClub upgraded shares of ManpowerGroup from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $102.71.
In related news, EVP Mara E. Swan sold 16,575 shares of ManpowerGroup stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $107.18, for a total transaction of $1,776,508.50. Following the completion of the transaction, the executive vice president now directly owns 32,136 shares of the company’s stock, valued at approximately $3,444,336.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 2,100 shares of ManpowerGroup stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $107.94, for a total transaction of $226,674.00. Following the transaction, the director now directly owns 11,136 shares of the company’s stock, valued at $1,202,019.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,715 shares of company stock valued at $12,904,283. 0.87% of the stock is owned by corporate insiders.
ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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