Mesirow Financial Investment Management Equity Management acquired a new stake in ManpowerGroup Inc. (NYSE:MAN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 71,720 shares of the business services provider’s stock, valued at approximately $6,928,000.
Several other large investors have also recently bought and sold shares of MAN. Destination Wealth Management purchased a new stake in ManpowerGroup in the second quarter valued at approximately $58,000. Machina Capital S.A.S. grew its holdings in 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 valued at $101,000 after purchasing an additional 763 shares during the period. First Mercantile Trust Co. purchased a new stake in ManpowerGroup in the first quarter valued at approximately $123,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in ManpowerGroup by 162.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,455 shares of the business services provider’s stock valued at $141,000 after purchasing an additional 900 shares during the period. Finally, Twin Tree Management LP grew its holdings in ManpowerGroup by 583.4% in the first quarter. Twin Tree Management LP now owns 1,975 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 1,686 shares during the period. 90.90% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the stock. Bank of America lowered their target price on shares of ManpowerGroup from $100.00 to $96.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. BMO Capital Markets boosted their target price on shares of ManpowerGroup to $93.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. ValuEngine upgraded shares of ManpowerGroup from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Credit Suisse Group downgraded shares of ManpowerGroup from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $88.00 to $83.00 in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada decreased their price objective on shares of ManpowerGroup from $114.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $93.30.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Friday, July 19th. The business services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.06. ManpowerGroup had a net margin of 2.34% and a return on equity of 19.19%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. ManpowerGroup’s revenue for the quarter was down 5.0% on a year-over-year basis. Sell-side analysts forecast that ManpowerGroup Inc. will post 7.63 earnings per share for the current year.
ManpowerGroup declared that its Board of Directors has authorized a stock repurchase plan on Friday, August 2nd that permits the company to repurchase 6,000,000 shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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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