12,518 Shares in Robert Half Inc. (NYSE:RHI) Bought by CCM Investment Group LLC

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

A number of other institutional investors and hedge funds have also modified their holdings of RHI. GeoWealth Management LLC acquired a new stake in Robert Half during the 4th quarter valued at $35,000. Orion Capital Management LLC acquired a new stake in Robert Half during the 4th quarter valued at $41,000. CX Institutional acquired a new stake in Robert Half during the 1st quarter valued at $33,000. Manchester Capital Management LLC grew its holdings in Robert Half by 45.0% during the 1st quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after buying an additional 256 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Robert Half by 80.4% during the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock valued at $80,000 after buying an additional 650 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Robert Half Trading Down 1.1%

Shares of Robert Half stock traded down $0.42 during trading hours on Thursday, reaching $36.24. 2,332,778 shares of the company's stock were exchanged, compared to its average volume of 1,725,048. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 20.71 and a beta of 1.02. The company has a fifty day moving average of $40.49 and a 200-day moving average of $48.24. 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 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. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. On average, equities research analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Announces Dividend

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. This represents a $2.36 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Monday, August 25th. Robert Half's dividend payout ratio (DPR) is 134.86%.

Analysts Set New Price Targets

RHI has been the topic of a number of analyst reports. BNP Paribas cut 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. The Goldman Sachs Group reduced their price target on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research note on Thursday, April 24th. BNP Paribas Exane lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research note on Friday, May 2nd. Barclays reduced their price target on 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. Finally, Truist Financial set a $55.00 price target on Robert Half and gave the stock a "buy" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $45.83.

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.