Quarry LP Makes New Investment in ManpowerGroup Inc. (NYSE:MAN)

Quarry LP purchased a new position in shares of ManpowerGroup Inc. (NYSE:MAN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,149 shares of the business services provider’s stock, valued at approximately $150,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of ManpowerGroup by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,912,219 shares of the business services provider’s stock worth $549,314,000 after purchasing an additional 17,691 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of ManpowerGroup by 4.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,125,887 shares of the business services provider’s stock worth $287,987,000 after purchasing an additional 183,527 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ManpowerGroup by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,299,985 shares of the business services provider’s stock worth $160,539,000 after purchasing an additional 103,059 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of ManpowerGroup by 55.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,608,368 shares of the business services provider’s stock worth $112,264,000 after purchasing an additional 573,027 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of ManpowerGroup by 10.7% in the 4th quarter. Schroder Investment Management Group now owns 1,425,180 shares of the business services provider’s stock worth $113,259,000 after purchasing an additional 137,441 shares in the last quarter. 98.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MAN has been the topic of a number of research reports. BMO Capital Markets boosted their target price on shares of ManpowerGroup from $80.00 to $87.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. dropped their target price on shares of ManpowerGroup from $84.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Finally, BNP Paribas raised shares of ManpowerGroup from an “underperform” rating to an “outperform” rating and set a $92.00 target price on the stock in a research report on Tuesday, June 11th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, ManpowerGroup currently has an average rating of “Hold” and an average price target of $82.40.

ManpowerGroup Stock Performance

ManpowerGroup stock opened at $73.52 on Tuesday. The firm’s 50 day simple moving average is $72.32 and its 200-day simple moving average is $73.04. The company has a market cap of $3.51 billion, a P/E ratio of 75.79 and a beta of 1.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.14. ManpowerGroup Inc. has a fifty-two week low of $66.03 and a fifty-two week high of $80.25.

ManpowerGroup (NYSE:MAN) last released its earnings results on Thursday, July 18th. The business services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. ManpowerGroup had a net margin of 0.25% and a return on equity of 11.08%. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same period last year, the firm posted $1.58 earnings per share. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, equities research analysts predict that ManpowerGroup Inc. will post 4.87 EPS for the current year.

ManpowerGroup Profile

ManpowerGroup Inc provides workforce solutions and services worldwide. 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. It also offers various assessment services; training and development services; career and talent management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives.