Frank Rimerman Advisors LLC Invests $770,000 in ManpowerGroup Inc. (NYSE:MAN)

Key Points

• Frank Rimerman Advisors LLC invested $770,000 in ManpowerGroup Inc. by purchasing 13,308 shares in the 1st quarter, highlighting growing interest in the business services provider's stock.
• Wall Street analysts show mixed ratings for ManpowerGroup, with the consensus price target at $48.20 and six analysts rating the stock as a "hold."
• ManpowerGroup reported a better-than-expected EPS of $0.78 for the last quarter, exceeding estimates and generating revenue of $4.52 billion, although revenue was down 0.5% year-over-year.

Frank Rimerman Advisors LLC purchased a new stake in shares of ManpowerGroup Inc. (NYSE:MAN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,308 shares of the business services provider's stock, valued at approximately $770,000.

A number of other hedge funds also recently modified their holdings of the stock. Colonial Trust Co SC bought a new position in ManpowerGroup during the fourth quarter worth about $28,000. GAMMA Investing LLC increased its holdings in shares of ManpowerGroup by 190.6% during the first quarter. GAMMA Investing LLC now owns 744 shares of the business services provider's stock worth $43,000 after purchasing an additional 488 shares during the period. Fifth Third Bancorp increased its holdings in shares of ManpowerGroup by 48.6% during the first quarter. Fifth Third Bancorp now owns 743 shares of the business services provider's stock worth $43,000 after purchasing an additional 243 shares during the period. UMB Bank n.a. boosted its stake in shares of ManpowerGroup by 131.7% in the first quarter. UMB Bank n.a. now owns 899 shares of the business services provider's stock valued at $52,000 after buying an additional 511 shares during the period. Finally, WFA Asset Management Corp grew its position in ManpowerGroup by 129.3% during the first quarter. WFA Asset Management Corp now owns 1,376 shares of the business services provider's stock worth $80,000 after buying an additional 776 shares in the last quarter. Institutional investors and hedge funds own 98.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MAN. BMO Capital Markets dropped their price objective on ManpowerGroup from $54.00 to $48.00 and set a "market perform" rating for the company in a report on Monday, April 21st. UBS Group raised their price target on ManpowerGroup from $42.00 to $45.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. dropped their price target on ManpowerGroup from $65.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Wall Street Zen upgraded shares of ManpowerGroup from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Truist Financial decreased their price objective on shares of ManpowerGroup from $55.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, ManpowerGroup presently has a consensus rating of "Hold" and a consensus price target of $48.20.

ManpowerGroup Trading Up 2.7%

MAN opened at $40.51 on Friday. The company has a market cap of $1.88 billion, a P/E ratio of -106.59 and a beta of 1.08. The company has a current ratio of 0.98, a quick ratio of 1.12 and a debt-to-equity ratio of 0.24. The company's 50 day moving average is $41.88 and its 200-day moving average is $48.37. ManpowerGroup Inc. has a 1-year low of $37.97 and a 1-year high of $75.57.

ManpowerGroup (NYSE:MAN - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.69 by $0.09. ManpowerGroup had a negative net margin of 0.09% and a positive return on equity of 7.98%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. The firm's revenue was down .5% compared to the same quarter last year. Equities research analysts predict that ManpowerGroup Inc. will post 4.23 earnings per share for the current fiscal year.

About ManpowerGroup

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.

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