BlackRock Inc. Acquires New Shares in Robert Half Inc. $RHI

Key Points

• BlackRock acquired 13.35 million Robert Half shares during the second quarter, worth approximately $409.9 million and representing about 13.04% of the company. Institutional investors collectively own 92.41% of RHI.
• Analyst sentiment remains mixed, with three Buy, four Hold, and three Sell ratings; the consensus rating is Hold with a $34.75 target price, below the stock’s reported $44.92 price.
• Robert Half matched quarterly earnings expectations at $0.26 per share, while revenue reached $1.34 billion but declined 2.4% year over year. The company declared a $0.59 quarterly dividend, equating to a 5.3% yield and a 205.22% payout ratio.

BlackRock Inc. bought a new stake in Robert Half Inc. (NYSE:RHI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,350,970 shares of the business services provider's stock, valued at approximately $409,875,000. BlackRock Inc. owned about 13.04% of Robert Half as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Larson Financial Group LLC boosted its stake in shares of Robert Half by 321.0% in the 4th quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider's stock valued at $27,000 after purchasing an additional 764 shares in the last quarter. Gilpin Wealth Management LLC acquired a new position in Robert Half during the 4th quarter worth approximately $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Robert Half during the 2nd quarter worth approximately $34,000. Elevation Wealth Partners LLC lifted its stake in Robert Half by 605.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,136 shares of the business services provider's stock valued at $35,000 after purchasing an additional 975 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Robert Half by 94.3% in the 4th quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider's stock valued at $37,000 after purchasing an additional 664 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Wall Street Analyst Weigh In

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

Robert Half Price Performance

Shares of NYSE RHI opened at $44.92 on Wednesday. The company has a 50 day simple moving average of $37.68 and a 200 day simple moving average of $30.39. Robert Half Inc. has a 1 year low of $21.83 and a 1 year high of $46.70. The firm has a market cap of $4.60 billion, a PE ratio of 39.06 and a beta of 0.79.

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

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Tuesday, August 25th. Robert Half's payout ratio is 205.22%.

Robert Half Company Profile

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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