Candriam Luxembourg S.C.A. Has $1.63 Million Stake in ManpowerGroup (MAN)
Candriam Luxembourg S.C.A. reduced its position in ManpowerGroup (NYSE:MAN) by 74.0% during the second quarter, Holdings Channel reports. The fund owned 14,598 shares of the business services provider’s stock after selling 41,574 shares during the period. Candriam Luxembourg S.C.A.’s holdings in ManpowerGroup were worth $1,630,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of ManpowerGroup by 39.8% in the first quarter. Russell Investments Group Ltd. now owns 520,809 shares of the business services provider’s stock worth $53,432,000 after buying an additional 148,161 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of ManpowerGroup by 4.1% in the first quarter. Teachers Advisors LLC now owns 222,883 shares of the business services provider’s stock worth $22,861,000 after buying an additional 8,833 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of ManpowerGroup by 0.4% in the first quarter. First Trust Advisors LP now owns 309,270 shares of the business services provider’s stock worth $31,722,000 after buying an additional 1,245 shares during the last quarter. Creative Planning boosted its stake in shares of ManpowerGroup by 6.0% in the first quarter. Creative Planning now owns 5,964 shares of the business services provider’s stock worth $612,000 after buying an additional 335 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of ManpowerGroup during the first quarter worth $57,066,000. Institutional investors and hedge funds own 93.74% of the company’s stock.
ManpowerGroup (NYSE MAN) opened at 106.85 on Friday. The company’s 50-day moving average is $110.90 and its 200-day moving average is $103.33. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 16.35 and a beta of 1.39. ManpowerGroup has a 12 month low of $67.30 and a 12 month high of $119.59.
ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Monday, July 24th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by $0.01. ManpowerGroup had a net margin of 2.24% and a return on equity of 17.90%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the business earned $1.60 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that ManpowerGroup will post $6.75 earnings per share for the current year.
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A number of analysts have recently weighed in on MAN shares. BidaskClub cut shares of ManpowerGroup from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Credit Suisse Group restated a “neutral” rating and issued a $111.00 price objective (up from $106.00) on shares of ManpowerGroup in a research note on Tuesday, July 25th. Northcoast Research reaffirmed a “neutral” rating on shares of ManpowerGroup in a research report on Monday, July 17th. Zacks Investment Research raised shares of ManpowerGroup from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Tuesday, July 4th. Finally, BMO Capital Markets boosted their target price on shares of ManpowerGroup from $113.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $102.71.
In other ManpowerGroup news, SVP Richard Buchband sold 1,250 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $109.00, for a total transaction of $136,250.00. Following the completion of the sale, the senior vice president now owns 3,884 shares of the company’s stock, valued at approximately $423,356. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Darryl Green sold 76,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $105.83, for a total value of $8,043,080.00. Following the sale, the chief operating officer now directly owns 36,454 shares of the company’s stock, valued at approximately $3,857,926.82. The disclosure for this sale can be found here. Insiders have sold a total of 121,715 shares of company stock valued at $12,904,283 in the last ninety days. Insiders own 0.87% of the company’s stock.
ManpowerGroup Company Profile
ManpowerGroup Inc is a provider of workforce solutions and services. The Company’s segments include Americas, Southern Europe, Northern Europe, Asia Pacific Middle East (APME), Right Management and Corporate. The Company’s Americas segment includes operations in the United States and Other Americas. Its Southern Europe segment includes operations in France, Italy and Other Southern Europe.
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