Connor Clark & Lunn Investment Management Ltd. Buys Shares of 102,422 Robert Half Inc. (NYSE:RHI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 102,422 shares of Robert Half Inc. (NYSE:RHI) in the first quarter, valued at approximately $5.59 million, representing a 0.10% stake in the company.
• Robert Half recently reported a quarterly earnings per share (EPS) of $0.41, beating estimates, although their revenue decreased by 7% year-over-year to $1.37 billion.
• The company announced a $0.59 quarterly dividend, equating to a yield of 6.8%, with a stipulation that shareholders must be on record by August 25th to qualify for the dividend.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Robert Half Inc. (NYSE:RHI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 102,422 shares of the business services provider's stock, valued at approximately $5,587,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Robert Half as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of RHI. GeoWealth Management LLC bought a new stake in shares of Robert Half during the 4th quarter worth approximately $35,000. Orion Capital Management LLC acquired a new position in Robert Half during the 4th quarter worth approximately $41,000. CX Institutional acquired a new position in Robert Half during the 1st quarter worth approximately $33,000. Manchester Capital Management LLC increased 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 purchasing an additional 256 shares in the last quarter. Finally, Allworth Financial LP increased 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 purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target 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. Wall Street Zen upgraded shares of Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. BNP Paribas Exane downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price for the company. in a research note on Friday, May 2nd. BNP Paribas lowered shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research report on Friday, May 2nd. Finally, Barclays dropped their target price on shares of Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $45.83.

Robert Half Stock Performance

RHI traded down $0.42 during trading on Thursday, reaching $36.24. 2,332,813 shares of the company traded hands, compared to its average volume of 2,072,761. The company has a market cap of $3.69 billion, a P/E ratio of 20.71 and a beta of 1.02. Robert Half Inc. has a 12-month low of $33.18 and a 12-month high of $78.41. The firm has a fifty day simple moving average of $40.34 and a 200 day simple moving average of $48.01.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. Robert Half's revenue was down 7.0% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. As a group, sell-side analysts expect that Robert Half Inc. will post 2.48 earnings per share 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 given 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 6.5%. Robert Half's dividend payout ratio (DPR) 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.