Bessemer Group Inc. Boosts Stake in Robert Half Inc. $RHI

Key Points

• Bessemer Group Inc. increased its stake in Robert Half by 29.5% in the first quarter, buying 64,659 additional shares and bringing its total holdings to 283,544 shares valued at about $7.2 million.
• Robert Half’s latest results were mixed: it earned $0.14 per share, matching estimates, but revenue of $1.30 billion came in below expectations and was down 3.8% from a year earlier.
• The stock has rallied sharply and pays a high dividend, with shares trading near $41.84 versus a 12-month low of $21.83 and a dividend yield of 5.6%. Analyst sentiment remains cautious, with a consensus rating of “Reduce.”

Bessemer Group Inc. lifted its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 29.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 283,544 shares of the business services provider's stock after acquiring an additional 64,659 shares during the period. Bessemer Group Inc. owned approximately 0.28% of Robert Half worth $7,202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RHI. Royal Bank of Canada lifted its stake in Robert Half by 19.3% during the first quarter. Royal Bank of Canada now owns 38,352 shares of the business services provider's stock worth $2,092,000 after purchasing an additional 6,212 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Robert Half by 498.7% during the 1st quarter. Jones Financial Companies Lllp now owns 6,813 shares of the business services provider's stock valued at $372,000 after purchasing an additional 5,675 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Robert Half by 2.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 304,359 shares of the business services provider's stock valued at $16,603,000 after buying an additional 7,523 shares in the last quarter. Empowered Funds LLC lifted its position in Robert Half by 91.8% in the 1st quarter. Empowered Funds LLC now owns 55,719 shares of the business services provider's stock worth $3,039,000 after buying an additional 26,672 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its position in Robert Half by 94.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,098 shares of the business services provider's stock worth $332,000 after buying an additional 3,937 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Trading Up 0.1%

RHI opened at $41.84 on Monday. Robert Half Inc. has a 12 month low of $21.83 and a 12 month high of $43.26. The business's 50-day moving average price is $30.83 and its 200-day moving average price is $27.98. The company has a market cap of $4.28 billion, a P/E ratio of 32.18 and a beta of 0.82.

Robert Half (NYSE:RHI - Get Free Report) last issued its earnings results on Thursday, April 23rd. The business services provider reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. Robert Half had a return on equity of 10.14% and a net margin of 2.43%.The company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the business posted $0.17 EPS. Robert Half's quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts forecast that Robert Half Inc. will post 1.29 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, May 22nd. Robert Half's dividend payout ratio is 181.54%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RHI. William Blair upgraded shares of Robert Half from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 21st. The Goldman Sachs Group boosted their price objective on shares of Robert Half from $23.00 to $26.00 and gave the stock a "sell" rating in a report on Tuesday, July 14th. Weiss Ratings upgraded shares of Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, June 17th. Finally, Zacks Research raised shares of Robert Half from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Robert Half has a consensus rating of "Reduce" and an average target price of $31.62.

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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