Boston Partners Reduces Holdings in Robert Half Inc. $RHI

Key Points

• Boston Partners significantly cut its stake in Robert Half Inc. by 51.9%, leaving it with over 4.1 million shares worth approximately $224.5 million as of the latest SEC filing.
• The company reported $0.41 EPS for the quarter, exceeding the consensus estimate of $0.40, despite a 7% year-over-year revenue decline to $1.37 billion.
• Robert Half declared a quarterly dividend of $0.59 per share, resulting in an annualized yield of 6.4%, although its dividend payout ratio is quite high at 134.86%.

Boston Partners lowered its position in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 51.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,118,432 shares of the business services provider's stock after selling 4,435,844 shares during the quarter. Boston Partners owned about 4.03% of Robert Half worth $224,541,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of RHI. Wells Fargo & Company MN grew its stake in shares of Robert Half by 3.9% in the 4th quarter. Wells Fargo & Company MN now owns 69,110 shares of the business services provider's stock worth $4,869,000 after buying an additional 2,615 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Robert Half by 32.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 146,717 shares of the business services provider's stock worth $10,338,000 after acquiring an additional 35,729 shares in the last quarter. Invesco Ltd. grew its stake in shares of Robert Half by 30.2% in the fourth quarter. Invesco Ltd. now owns 515,031 shares of the business services provider's stock worth $36,289,000 after acquiring an additional 119,443 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Robert Half in the fourth quarter worth $15,491,000. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Robert Half by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 44,483 shares of the business services provider's stock valued at $3,134,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 92.41% of the company's stock.

Robert Half Stock Down 1.5%

RHI traded down $0.54 during midday trading on Monday, hitting $35.79. 1,275,968 shares of the company traded hands, compared to its average volume of 1,721,557. The company's 50-day moving average is $40.18 and its 200 day moving average is $47.50. Robert Half Inc. has a 52 week low of $33.18 and a 52 week high of $78.41. The firm has a market capitalization of $3.64 billion, a PE ratio of 20.45 and a beta of 1.02.

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

Robert Half Dividend Announcement

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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Monday, August 25th. Robert Half's dividend payout ratio is 134.86%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RHI shares. Wall Street Zen upgraded shares of Robert Half from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Truist Financial set a $55.00 target price on shares of Robert Half and gave the stock a "buy" rating in a report on Thursday, April 24th. BNP Paribas downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price on the stock. in a research note on Friday, May 2nd. BNP Paribas Exane cut shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target on the stock. in a report on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Robert Half currently has a consensus rating of "Hold" and a consensus target price of $45.83.

About Robert Half

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.