Robert Half Inc. (NYSE:RHI) Shares Sold by Boston Partners

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 decreased its holdings in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 51.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,118,432 shares of the business services provider's stock after selling 4,435,844 shares during the period. Boston Partners owned approximately 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 bought and sold shares of RHI. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Robert Half during the first quarter worth about $3,195,000. GAMMA Investing LLC raised its position in Robert Half by 92.9% during the 1st quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider's stock worth $114,000 after buying an additional 1,007 shares during the last quarter. Jefferies Financial Group Inc. lifted its stake in Robert Half by 119.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 46,851 shares of the business services provider's stock valued at $2,556,000 after acquiring an additional 25,498 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Robert Half by 4.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,378 shares of the business services provider's stock valued at $4,166,000 after acquiring an additional 3,248 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of Robert Half by 80.4% in the first quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock worth $80,000 after acquiring an additional 650 shares during the period. Institutional investors and hedge funds own 92.41% of the company's stock.

Robert Half Stock Up 0.2%

Shares of Robert Half stock traded up $0.08 on Friday, reaching $36.33. The company's stock had a trading volume of 1,629,007 shares, compared to its average volume of 2,086,116. The company has a market capitalization of $3.70 billion, a P/E ratio of 20.76 and a beta of 1.02. The stock has a 50-day moving average price of $40.18 and a 200-day moving average price of $47.62. Robert Half Inc. has a 52-week low of $33.18 and a 52-week high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The firm's revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. Sell-side analysts forecast 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 6.5%. The ex-dividend date is Monday, August 25th. Robert Half's payout ratio is presently 134.86%.

Wall Street Analysts Forecast Growth

RHI has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. BNP Paribas lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research note on Friday, May 2nd. BNP Paribas Exane downgraded 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. Truist Financial set a $55.00 price target on Robert Half and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Barclays dropped their price objective on shares of Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.83.

Robert Half Company Profile

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.