Burford Brothers Inc. Invests $478,000 in Robert Half Inc. $RHI

Key Points

• Burford Brothers Inc. invested approximately $478,000 to acquire 11,633 shares in Robert Half Inc. in the second quarter, marking a significant new position for the institutional investor.
• Recent analyst reports have been mixed, with JPMorgan reducing its price target from $47 to $45 and setting a "neutral" rating, while others have downgraded their ratings to "sell" with a consensus price target of $45.
• Robert Half reported a quarterly earnings result of $0.41 per share, slightly above estimates, but noted a 7% decline in revenue compared to the same quarter last year.

Burford Brothers Inc. acquired a new position in shares of Robert Half Inc. (NYSE:RHI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,633 shares of the business services provider's stock, valued at approximately $478,000.

Other large investors also recently modified their holdings of the company. Quarry LP increased its position in shares of Robert Half by 540.8% during the first quarter. Quarry LP now owns 487 shares of the business services provider's stock worth $27,000 after buying an additional 411 shares during the period. Manchester Capital Management LLC increased its position in shares of Robert Half by 45.0% during the first quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock worth $45,000 after buying an additional 256 shares during the period. Allworth Financial LP increased its position in shares of Robert Half by 80.4% during the first quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock worth $80,000 after buying an additional 650 shares during the period. Signaturefd LLC increased its position in shares of Robert Half by 286.5% during the first quarter. Signaturefd LLC now owns 1,685 shares of the business services provider's stock worth $92,000 after buying an additional 1,249 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Robert Half by 30.2% during the second quarter. Parallel Advisors LLC now owns 2,013 shares of the business services provider's stock worth $83,000 after buying an additional 467 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RHI. JPMorgan Chase & Co. decreased their price objective 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. Truist Financial reduced their price target on shares of Robert Half from $55.00 to $50.00 and set a "buy" rating for the company in a report on Monday, October 13th. Wall Street Zen upgraded shares of Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Weiss Ratings reiterated a "sell (d+)" rating on shares of Robert Half in a report on Tuesday, October 14th. Finally, Zacks Research cut shares of Robert Half from a "hold" rating to a "strong sell" rating in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $45.00.

Robert Half Stock Performance

Robert Half stock opened at $31.33 on Friday. Robert Half Inc. has a fifty-two week low of $30.84 and a fifty-two week high of $78.41. The stock has a market cap of $3.19 billion, a PE ratio of 17.90 and a beta of 1.02. The firm's 50-day simple moving average is $35.07 and its 200 day simple moving average is $40.67.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share 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 business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, August 25th were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.36 annualized dividend and a yield of 7.5%. Robert Half's payout ratio is currently 134.86%.

Robert Half 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.

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