CCM Investment Group LLC Invests $674,000 in Robert Half Inc. (NYSE:RHI)

Key Points

• CCM Investment Group LLC acquired 12,518 shares of Robert Half Inc., valued at approximately $674,000, indicating strong institutional interest in the company.
• Robert Half reported earnings per share of $0.41, exceeding analyst estimates, with a revenue of $1.37 billion, although experiencing a 7% decline compared to the previous year.
• The company announced a quarterly dividend of $0.59 per share, translating to a 6.9% dividend yield, highlighting its shareholder return strategy.

CCM Investment Group LLC acquired a new position in shares of Robert Half Inc. (NYSE:RHI - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,518 shares of the business services provider's stock, valued at approximately $674,000.

Other hedge funds have also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new position in shares of Robert Half in the fourth quarter valued at about $35,000. Orion Capital Management LLC acquired a new stake in Robert Half during the fourth quarter worth about $41,000. CX Institutional acquired a new stake in Robert Half during the first quarter worth about $33,000. Manchester Capital Management LLC grew its holdings in 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 acquiring an additional 256 shares during the period. Finally, Allworth Financial LP grew its holdings in 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 acquiring an additional 650 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on RHI. Truist Financial set a $55.00 target price on Robert Half and gave the stock a "buy" rating in a report on Thursday, April 24th. The Goldman Sachs Group dropped their target price on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Thursday, April 24th. BNP Paribas lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price on the stock. in a report on Friday, May 2nd. Barclays dropped their target price on Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $45.83.

Robert Half Trading Up 0.0%

RHI traded up $0.01 on Friday, hitting $36.26. 451,184 shares of the company were exchanged, compared to its average volume of 1,716,641. Robert Half Inc. has a twelve month low of $33.18 and a twelve month high of $78.41. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 20.72 and a beta of 1.02. The firm has a 50-day moving average price of $40.34 and a two-hundred day moving average price of $48.01.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The business's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. Equities analysts expect that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be given a $0.59 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.5%. Robert Half's dividend payout ratio is 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.