Larry Robbins (Trades, Portfolio), chief executive of Glenview Capital Management, has expanded his passive holding of ManpowerGroup Inc. (MAN, Financial) to 7.24% of the company according to filings dated June 15.
Robbins holds 5,664,036 shares after the transaction, a 149.7% increase from the 2,268,131 shares he bought when he started the stake in the first quarter.
Year to date ManpowerGroup’s share price has gained 34.6% to close at $91.75 on Wednesday, close to a 10-year high.
The company, which provides workforce solutions and services, has a $7.1 billion market cap.
In the first quarter it reported revenue of $4.5 billion, a 7% decrease from the first quarter a year ago. Net earnings were $65.7 million, or 83 cents per diluted share, compared to $70.1 million, or 86 cents per diluted share a year ago. The company cited a strong U.S. dollar compared to some foreign currencies.
For the second quarter, the company is expecting earnings per share between $1.21 and $1.29, including an unfavorable currency impact estimated at 29 cents.
It has a P/E ratio of 17.37, P/B of 2.51 and P/S of 0.36, close to a five-year high.
Several other guru investors purchased ManpowerGroup shares in the first quarter, including Pioneer Investments (Trades, Portfolio), Jim Simons (Trades, Portfolio), Steven Cohen (Trades, Portfolio) and Louis Moore Bacon (Trades, Portfolio).
