SummerHaven Investment Management LLC Boosts Stake in ManpowerGroup Inc. (NYSE:MAN)

SummerHaven Investment Management LLC raised its holdings in shares of ManpowerGroup Inc. (NYSE:MAN) by 2.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 11,657 shares of the business services provider’s stock after purchasing an additional 238 shares during the quarter. SummerHaven Investment Management LLC’s holdings in ManpowerGroup were worth $675,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp raised its holdings in shares of ManpowerGroup by 48.6% in the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider’s stock worth $43,000 after buying an additional 243 shares during the period. Vident Advisory LLC grew its position in ManpowerGroup by 2.8% in the 4th quarter. Vident Advisory LLC now owns 10,708 shares of the business services provider’s stock valued at $618,000 after acquiring an additional 290 shares during the last quarter. Twin Capital Management Inc. increased its stake in ManpowerGroup by 1.7% in the fourth quarter. Twin Capital Management Inc. now owns 25,896 shares of the business services provider’s stock worth $1,495,000 after purchasing an additional 439 shares during the period. Bank of Nova Scotia increased its stake in ManpowerGroup by 8.8% in the fourth quarter. Bank of Nova Scotia now owns 5,676 shares of the business services provider’s stock worth $328,000 after purchasing an additional 458 shares during the period. Finally, Colonial Trust Co SC bought a new stake in shares of ManpowerGroup during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 98.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group cut their price target on shares of ManpowerGroup from $63.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Barclays raised shares of ManpowerGroup from an “underweight” rating to an “equal weight” rating and decreased their price target for the company from $55.00 to $50.00 in a research note on Thursday, April 10th. Truist Financial lowered their target price on ManpowerGroup from $55.00 to $48.00 and set a “hold” rating for the company in a report on Monday, April 21st. Wall Street Zen downgraded ManpowerGroup from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Finally, BMO Capital Markets lowered their price objective on shares of ManpowerGroup from $54.00 to $48.00 and set a “market perform” rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, ManpowerGroup presently has a consensus rating of “Hold” and an average price target of $50.60.

ManpowerGroup Stock Performance

Shares of NYSE:MAN opened at $42.39 on Thursday. The firm has a 50 day moving average of $43.69 and a 200 day moving average of $53.47. The company has a quick ratio of 1.15, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 14.18 and a beta of 1.08. ManpowerGroup Inc. has a 52 week low of $38.10 and a 52 week high of $78.22.

ManpowerGroup (NYSE:MAN) last announced its quarterly earnings results on Thursday, April 17th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.08). The company had revenue of $698.30 million during the quarter, compared to analysts’ expectations of $3.94 billion. ManpowerGroup had a net margin of 0.81% and a return on equity of 10.19%. During the same quarter in the prior year, the business posted $0.94 earnings per share. On average, sell-side analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

ManpowerGroup Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.72 dividend. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 2nd. ManpowerGroup’s payout ratio is currently 62.61%.

ManpowerGroup Company 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.