Ergoteles LLC trimmed its stake in shares of ManpowerGroup Inc. (NYSE:MAN – Get Rating) by 40.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,462 shares of the business services provider’s stock after selling 3,756 shares during the quarter. Ergoteles LLC’s holdings in ManpowerGroup were worth $353,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its holdings in shares of ManpowerGroup by 17.1% during the third quarter. California Public Employees Retirement System now owns 126,752 shares of the business services provider’s stock worth $8,200,000 after purchasing an additional 18,534 shares during the period. M&G Investment Management Ltd. raised its holdings in shares of ManpowerGroup by 8.6% during the third quarter. M&G Investment Management Ltd. now owns 55,893 shares of the business services provider’s stock worth $3,633,000 after purchasing an additional 4,434 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of ManpowerGroup during the second quarter worth $1,890,000. Janney Montgomery Scott LLC raised its holdings in shares of ManpowerGroup by 16.9% during the third quarter. Janney Montgomery Scott LLC now owns 4,243 shares of the business services provider’s stock worth $274,000 after purchasing an additional 612 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of ManpowerGroup by 6.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 31,287 shares of the business services provider’s stock worth $2,024,000 after purchasing an additional 1,973 shares during the period. 97.27% of the stock is currently owned by institutional investors.
Insider Activity
In other news, SVP Donald O. Mondano sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $85.50, for a total transaction of $213,750.00. Following the completion of the transaction, the senior vice president now owns 5,440 shares in the company, valued at approximately $465,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Donald O. Mondano sold 2,500 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $85.50, for a total transaction of $213,750.00. Following the completion of the transaction, the senior vice president now owns 5,440 shares in the company, valued at approximately $465,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ulice Payne, Jr. sold 780 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $89.09, for a total transaction of $69,490.20. Following the transaction, the director now owns 9,720 shares of the company’s stock, valued at approximately $865,954.80. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
ManpowerGroup Stock Performance
ManpowerGroup (NYSE:MAN – Get Rating) last announced its earnings results on Tuesday, January 31st. The business services provider reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.06). The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.75 billion. ManpowerGroup had a net margin of 1.89% and a return on equity of 18.19%. The business’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. On average, sell-side analysts anticipate that ManpowerGroup Inc. will post 6.89 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
MAN has been the topic of a number of research reports. BNP Paribas initiated coverage on shares of ManpowerGroup in a report on Thursday, January 5th. They set an “outperform” rating and a $95.00 target price on the stock. TheStreet raised shares of ManpowerGroup from a “c+” rating to a “b-” rating in a report on Monday, November 21st. Truist Financial increased their price objective on shares of ManpowerGroup from $80.00 to $92.00 and gave the stock a “hold” rating in a report on Wednesday, February 1st. Northcoast Research cut shares of ManpowerGroup from a “buy” rating to a “neutral” rating in a report on Thursday, January 26th. Finally, The Goldman Sachs Group increased their price objective on shares of ManpowerGroup from $64.00 to $73.00 and gave the stock a “sell” rating in a report on Monday, December 5th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $82.22.
ManpowerGroup Company Profile
ManpowerGroup, Inc engages in the provision of workforce solutions and services. It operates through the following segments: Americas, Southern Europe, Northern Europe, Asia Pacific Middle East, and Right Management. The Americas segment offers services as Manpower, Experis, and ManpowerGroup Solutions through both branch and franchise offices.
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