Charles Schwab Investment Management Inc. Has $197.37 Million Stock Position in Robert Half Inc. (NYSE:RHI)

Key Points

• Charles Schwab Investment Management Inc. increased its ownership in Robert Half Inc. by 5.4%, acquiring an additional 184,592 shares to reach a total of 3,618,177 shares.
• Robert Half reported a net revenue of $1.37 billion for the last quarter, surpassing analyst estimates, but still reflecting a 7.0% decline compared to the previous year.
• The company declared a quarterly dividend of $0.59, which yields approximately 6.9%, with an ex-dividend date set for August 25th.

Charles Schwab Investment Management Inc. boosted its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,618,177 shares of the business services provider's stock after acquiring an additional 184,592 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.54% of Robert Half worth $197,372,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. CX Institutional bought a new stake in Robert Half during the 1st quarter worth about $33,000. GeoWealth Management LLC bought a new stake in Robert Half during the 4th quarter worth about $35,000. Orion Capital Management LLC bought a new stake in Robert Half during the 4th quarter worth about $41,000. Manchester Capital Management LLC lifted its position 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 worth $45,000 after buying an additional 256 shares in the last quarter. Finally, Allworth Financial LP lifted its position 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 worth $80,000 after buying an additional 650 shares in the last quarter. 92.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RHI has been the topic of several analyst reports. Wall Street Zen raised shares of Robert Half from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. 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 research report on Friday, May 2nd. The Goldman Sachs Group cut their price target on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Finally, BNP Paribas lowered shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research note on Friday, May 2nd. One equities 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 stock. According to data from MarketBeat, Robert Half has an average rating of "Hold" and an average price target of $45.83.

Robert Half Trading Down 2.1%

Shares of Robert Half stock traded down $0.78 during trading on Thursday, hitting $35.88. 726,554 shares of the stock were exchanged, compared to its average volume of 1,714,137. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 20.49 and a beta of 1.02. The company has a fifty day moving average price of $40.49 and a 200-day moving average price of $48.24. Robert Half Inc. has a 1-year low of $33.18 and a 1-year high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.35 billion. During the same quarter in the prior year, the business earned $0.66 EPS. Robert Half's quarterly revenue was down 7.0% on a year-over-year basis. Equities research analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be paid a $0.59 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a yield of 6.6%. Robert Half's dividend payout ratio is 134.86%.

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.