AQR Capital Management LLC Increases Stock Holdings in Robert Half Inc. $RHI

Key Points

• AQR Capital Management LLC increased its stake in Robert Half Inc. by 27.2%, owning approximately 2.09% of the company, worth about $115 million.
• Robert Half recently reported an earnings per share (EPS) of $0.41, beating analyst expectations, despite a 7.0% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.59 per share with a yield of 6.3%, reflecting a high dividend payout ratio of 134.86%.

AQR Capital Management LLC boosted its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 27.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,134,881 shares of the business services provider's stock after acquiring an additional 457,025 shares during the period. AQR Capital Management LLC owned about 2.09% of Robert Half worth $115,348,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Amundi raised its position in Robert Half by 24,118.3% during the first quarter. Amundi now owns 58,366 shares of the business services provider's stock worth $2,974,000 after acquiring an additional 58,125 shares during the period. Federation des caisses Desjardins du Quebec raised its position in Robert Half by 12.1% during the first quarter. Federation des caisses Desjardins du Quebec now owns 41,265 shares of the business services provider's stock worth $2,251,000 after acquiring an additional 4,450 shares during the period. Perbak Capital Partners LLP acquired a new position in Robert Half during the first quarter worth $355,000. Focus Partners Advisor Solutions LLC raised its position in Robert Half by 298.9% during the first quarter. Focus Partners Advisor Solutions LLC now owns 12,339 shares of the business services provider's stock worth $673,000 after acquiring an additional 9,246 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in Robert Half during the first quarter worth $2,204,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Robert Half Stock Performance

Shares of NYSE RHI traded down $0.91 during mid-day trading on Wednesday, reaching $34.94. The company's stock had a trading volume of 229,572 shares, compared to its average volume of 1,703,323. The stock has a 50-day moving average of $38.36 and a two-hundred day moving average of $44.79. The stock has a market capitalization of $3.56 billion, a P/E ratio of 19.98 and a beta of 1.03. Robert Half Inc. has a 1-year low of $33.18 and a 1-year high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Robert Half's quarterly revenue was down 7.0% on a year-over-year basis. Analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.8%. Robert Half's dividend payout ratio is currently 134.86%.

Wall Street Analysts Forecast Growth

RHI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Robert Half from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Robert Half presently has an average rating of "Hold" and a consensus price target of $45.83.

Robert Half Profile

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.