Bank of New York Mellon Corp Lowers Stock Holdings in Robert Half Inc. $RHI

Key Points

• Bank of New York Mellon reduced its Robert Half stake by 4.9% in the first quarter, selling 31,399 shares and retaining 612,541 shares valued at approximately $15.6 million. Institutional investors collectively own 92.41% of RHI.
• Analyst views remain mixed, with recent price targets ranging from $29 to $50. Robert Half has a consensus rating of “Reduce” and an average price target of $34.75.
• Robert Half’s latest quarterly results matched earnings expectations at $0.26 per share and exceeded revenue estimates with $1.34 billion, though revenue declined 2.4% year over year and earnings fell from $0.41 per share in the prior-year quarter.

Bank of New York Mellon Corp reduced its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 612,541 shares of the business services provider's stock after selling 31,399 shares during the period. Bank of New York Mellon Corp owned 0.60% of Robert Half worth $15,559,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its holdings in Robert Half by 321.0% during the 4th quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider's stock worth $27,000 after purchasing an additional 764 shares during the period. Gilpin Wealth Management LLC bought a new position in shares of Robert Half during the 4th quarter worth $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Robert Half during the 2nd quarter worth $34,000. Fifth Third Bancorp increased its stake in shares of Robert Half by 94.3% during the fourth quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider's stock valued at $37,000 after buying an additional 664 shares during the period. Finally, Danske Bank A S purchased a new position in shares of Robert Half during the third quarter valued at $37,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on RHI. Robert W. Baird set a $47.00 target price on shares of Robert Half in a research report on Monday. William Blair raised shares of Robert Half from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Robert Half from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. The Goldman Sachs Group lifted their price objective on shares of Robert Half from $26.00 to $29.00 and gave the company a "sell" rating in a report on Friday, July 24th. Finally, Truist Financial boosted their price objective on shares of Robert Half from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Robert Half currently has a consensus rating of "Reduce" and an average price target of $34.75.

Robert Half Price Performance

Shares of RHI stock opened at $37.38 on Friday. The stock's fifty day moving average price is $33.25 and its 200 day moving average price is $28.72. Robert Half Inc. has a 1-year low of $21.83 and a 1-year high of $42.25. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 32.50 and a beta of 0.82.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company earned $0.41 earnings per share. The company's quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that Robert Half Inc. will post 1.29 earnings per share for the current year.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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