Bank of America Corp DE Takes $38.46 Million Position in Robert Half Inc. $RHI

Key Points

• Bank of America established a new $38.46 million position in Robert Half, purchasing 1.25 million shares and holding approximately 1.22% of the company. Institutional investors collectively own 92.41% of Robert Half.
• Robert Half reported quarterly EPS of $0.26, in line with analyst estimates, while revenue reached $1.34 billion—above expectations but down 2.4% year over year.
• The company pays a quarterly dividend of $0.59 per share, equivalent to a 6.4% annualized yield, though its payout ratio is elevated at 205.22%. Analysts’ consensus rating is Hold, with an average price target of $34.75.

Bank of America Corp DE bought a new stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,252,768 shares of the business services provider's stock, valued at approximately $38,460,000. Bank of America Corp DE owned about 1.22% of Robert Half as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Robert Half in the 2nd quarter valued at $409,875,000. Pzena Investment Management LLC bought a new position in Robert Half in the 2nd quarter worth about $191,025,000. Capital World Investors increased its position in shares of Robert Half by 36.0% during the fourth quarter. Capital World Investors now owns 5,902,279 shares of the business services provider's stock worth $160,306,000 after acquiring an additional 1,561,146 shares during the period. Quantinno Capital Management LP raised its stake in shares of Robert Half by 53.9% during the first quarter. Quantinno Capital Management LP now owns 2,498,071 shares of the business services provider's stock valued at $63,451,000 after acquiring an additional 875,179 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Robert Half by 13.0% in the fourth quarter. Geode Capital Management LLC now owns 2,396,148 shares of the business services provider's stock valued at $65,090,000 after purchasing an additional 275,004 shares during the period. Hedge funds and other institutional investors own 92.41% of the company's stock.

Robert Half Stock Performance

Shares of RHI opened at $36.89 on Tuesday. The stock has a 50-day moving average of $40.91 and a two-hundred day moving average of $32.34. The stock has a market cap of $3.78 billion, a P/E ratio of 32.08 and a beta of 0.81. Robert Half Inc. has a one year low of $21.83 and a one year high of $46.70.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same period last year, the business posted $0.41 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts predict that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 6.4%. The ex-dividend date was Tuesday, August 25th. Robert Half's dividend payout ratio (DPR) is currently 205.22%.

Analysts Set New Price Targets

Several analysts recently weighed in on RHI shares. The Goldman Sachs Group lifted their price objective on Robert Half from $26.00 to $29.00 and gave the company a "sell" rating in a report on Friday, July 24th. Robert W. Baird set a $47.00 target price on Robert Half in a research note on Monday, July 27th. Truist Financial increased their price target on shares of Robert Half from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Zacks Research raised shares of Robert Half from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Finally, BMO Capital Markets raised shares of Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 price target on the stock in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $34.75.

Robert Half Profile

Robert Half NYSE: RHI is a global talent solutions and business consulting company. Through its staffing operations, the company connects employers with skilled professionals for temporary, temporary-to-hire and permanent positions, as well as project-based assignments.

Robert Half specializes in several professional fields, including accounting and finance, technology, legal, marketing and creative, and administrative and customer support services. Its offerings include recruitment, workforce management and talent placement solutions designed to support organizations with changing personnel needs.

The company also operates Protiviti, a wholly owned subsidiary that provides internal audit, risk and compliance, technology, business performance and other consulting services.

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