Pearl River Capital LLC bought a new position in ManpowerGroup Inc. (NYSE:MAN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,957 shares of the business services provider’s stock, valued at approximately $616,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of MAN. Virtu Financial LLC purchased a new stake in shares of ManpowerGroup during the second quarter valued at approximately $267,000. Trexquant Investment LP raised its holdings in shares of ManpowerGroup by 136.5% during the second quarter. Trexquant Investment LP now owns 21,539 shares of the business services provider’s stock valued at $1,481,000 after acquiring an additional 12,432 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of ManpowerGroup by 1.1% during the second quarter. Victory Capital Management Inc. now owns 2,772,047 shares of the business services provider’s stock valued at $190,577,000 after acquiring an additional 30,747 shares in the last quarter. CSat Investment Advisory L.P. raised its holdings in ManpowerGroup by 7.6% in the second quarter. CSat Investment Advisory L.P. now owns 8,359 shares of the business services provider’s stock worth $575,000 after purchasing an additional 590 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in ManpowerGroup by 4.8% in the second quarter. Principal Financial Group Inc. now owns 202,595 shares of the business services provider’s stock worth $13,929,000 after purchasing an additional 9,249 shares in the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.
MAN has been the subject of a number of research reports. Robert W. Baird increased their price objective on ManpowerGroup from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Goldman Sachs Group downgraded ManpowerGroup from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $57.00 to $54.00 in a report on Tuesday, July 14th. Zacks Investment Research upgraded ManpowerGroup from a “strong sell” rating to a “hold” rating and set a $79.00 price objective for the company in a report on Wednesday, May 27th. Credit Suisse Group upgraded ManpowerGroup from an “underperform” rating to a “neutral” rating and set a $70.00 price objective for the company in a report on Thursday, May 21st. They noted that the move was a valuation call. Finally, Royal Bank of Canada increased their price objective on ManpowerGroup from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $76.10.
Shares of ManpowerGroup stock traded down $0.52 during trading on Thursday, hitting $75.54. 10,869 shares of the company’s stock traded hands, compared to its average volume of 448,266. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.50 and a quick ratio of 1.50. ManpowerGroup Inc. has a 1 year low of $49.57 and a 1 year high of $100.99. The stock has a market capitalization of $4.41 billion, a P/E ratio of 20.51, a PEG ratio of 19.00 and a beta of 1.99. The business has a 50-day simple moving average of $71.30 and a 200-day simple moving average of $71.92.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Monday, July 20th. The business services provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. ManpowerGroup had a return on equity of 11.35% and a net margin of 1.18%. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period last year, the firm posted $2.11 earnings per share. ManpowerGroup’s revenue was down 30.4% compared to the same quarter last year. On average, equities analysts predict that ManpowerGroup Inc. will post 2.65 earnings per share for the current fiscal year.
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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