Cabot Wealth Management Inc. trimmed its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,715 shares of the business services provider’s stock after selling 1,894 shares during the quarter. Cabot Wealth Management Inc. owned 0.08% of ManpowerGroup worth $4,445,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of ManpowerGroup by 148.6% during the third quarter. IFP Advisors Inc now owns 1,310 shares of the business services provider’s stock worth $113,000 after purchasing an additional 783 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of ManpowerGroup by 213.0% during the second quarter. Itau Unibanco Holding S.A. now owns 1,643 shares of the business services provider’s stock worth $141,000 after purchasing an additional 1,118 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of ManpowerGroup during the second quarter worth $170,000. Atria Investments LLC bought a new stake in shares of ManpowerGroup during the third quarter worth $214,000. Finally, Verity Asset Management Inc. bought a new stake in shares of ManpowerGroup during the second quarter worth $243,000. Institutional investors and hedge funds own 91.72% of the company’s stock.
In other ManpowerGroup news, EVP Mara E. Swan sold 11,192 shares of ManpowerGroup stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $93.77, for a total value of $1,049,473.84. Following the transaction, the executive vice president now owns 13,493 shares in the company, valued at $1,265,238.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ulice Payne, Jr. sold 1,350 shares of ManpowerGroup stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $89.43, for a total value of $120,730.50. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
ManpowerGroup (NYSE:MAN) last released its quarterly earnings data on Friday, October 19th. The business services provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.64 billion. ManpowerGroup had a return on equity of 20.02% and a net margin of 2.76%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 earnings per share. On average, sell-side analysts anticipate that ManpowerGroup Inc. will post 8.69 EPS for the current fiscal year.
ManpowerGroup declared that its board has initiated a stock repurchase plan on Friday, August 3rd that authorizes the company to repurchase 6,000,000 outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently weighed in on MAN. Zacks Investment Research downgraded ManpowerGroup from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Argus decreased their target price on ManpowerGroup from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Monday, October 22nd. BMO Capital Markets decreased their target price on ManpowerGroup from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. They noted that the move was a valuation call. ValuEngine downgraded ManpowerGroup from a “sell” rating to a “strong sell” rating in a research report on Friday, August 3rd. Finally, SunTrust Banks decreased their target price on ManpowerGroup to $84.00 and set a “hold” rating for the company in a research report on Monday, October 22nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $99.85.
ManpowerGroup Inc provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company's recruitment service portfolio includes permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions.
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