Pensionfund DSM Netherlands increased its stake in shares of ManpowerGroup Inc. (NYSE:MAN) by 16.7% in the first quarter, Holdings Channel reports. The firm owned 28,000 shares of the business services provider’s stock after buying an additional 4,000 shares during the quarter. Pensionfund DSM Netherlands’ holdings in ManpowerGroup were worth $2,769,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in ManpowerGroup by 466.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,108,435 shares of the business services provider’s stock valued at $99,958,000 after acquiring an additional 912,704 shares during the period. Norges Bank acquired a new position in ManpowerGroup in the fourth quarter valued at about $61,328,000. SummerHaven Investment Management LLC acquired a new position in ManpowerGroup in the fourth quarter valued at about $564,000. Point72 Europe London LLP acquired a new position in ManpowerGroup in the third quarter valued at about $11,579,000. Finally, Point72 Asset Management L.P. grew its stake in ManpowerGroup by 2,193.5% in the third quarter. Point72 Asset Management L.P. now owns 135,500 shares of the business services provider’s stock valued at $9,936,000 after acquiring an additional 129,592 shares during the period. 93.00% of the stock is owned by institutional investors and hedge funds.
NYSE:MAN opened at $103.19 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average price is $98.96 and its two-hundred day moving average price is $88.34. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 71.66, a P/E/G ratio of 4.82 and a beta of 2.07. ManpowerGroup Inc. has a 12-month low of $56.66 and a 12-month high of $104.81.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Tuesday, February 2nd. The business services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.35. The firm had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.74 billion. ManpowerGroup had a return on equity of 9.72% and a net margin of 0.47%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.33 earnings per share. Equities research analysts expect that ManpowerGroup Inc. will post 3.34 EPS for the current year.
A number of research analysts have issued reports on the company. TheStreet raised ManpowerGroup from a “c+” rating to a “b-” rating in a research note on Tuesday, February 2nd. Argus raised ManpowerGroup from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research note on Wednesday, February 10th. Truist boosted their price target on ManpowerGroup from $105.00 to $120.00 in a report on Thursday, March 11th. Truist Securities upped their target price on ManpowerGroup from $105.00 to $120.00 in a report on Thursday, March 11th. Finally, Bank of America upgraded ManpowerGroup from a “neutral” rating to a “buy” rating in a report on Wednesday, February 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $98.64.
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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