Connor Clark & Lunn Investment Management Ltd. Takes Position in Robert Half Inc. $RHI

Key Points

• Connor Clark & Lunn Investment Management acquired 582,275 Robert Half shares worth approximately $17.9 million, representing about 0.57% of the company. Institutional investors collectively own 92.41% of Robert Half.
• Robert Half reported quarterly EPS of $0.26, matching expectations, while revenue of $1.34 billion exceeded forecasts but declined 2.4% year over year.
• The company declared a quarterly dividend of $0.59 per share, equivalent to an annualized $2.36 payout and a 5.3% yield. Analyst sentiment remains mixed, with a consensus “Hold” rating and a $34.75 price target.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Robert Half Inc. (NYSE:RHI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 582,275 shares of the business services provider's stock, valued at approximately $17,876,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.57% of Robert Half as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada raised its stake in Robert Half by 19.3% in the first quarter. Royal Bank of Canada now owns 38,352 shares of the business services provider's stock valued at $2,092,000 after buying an additional 6,212 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Robert Half by 498.7% in the first quarter. Jones Financial Companies Lllp now owns 6,813 shares of the business services provider's stock valued at $372,000 after buying an additional 5,675 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Robert Half by 2.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 304,359 shares of the business services provider's stock worth $16,603,000 after acquiring an additional 7,523 shares during the period. Empowered Funds LLC boosted its stake in shares of Robert Half by 91.8% during the 1st quarter. Empowered Funds LLC now owns 55,719 shares of the business services provider's stock worth $3,039,000 after acquiring an additional 26,672 shares during the period. Finally, Sivia Capital Partners LLC increased its holdings in shares of Robert Half by 94.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 8,098 shares of the business services provider's stock worth $332,000 after acquiring an additional 3,937 shares during the last quarter. Institutional investors own 92.41% of the company's stock.

Robert Half Trading Down 0.4%

Shares of NYSE RHI opened at $44.92 on Wednesday. The firm has a market cap of $4.60 billion, a P/E ratio of 39.06 and a beta of 0.79. Robert Half Inc. has a 1-year low of $21.83 and a 1-year high of $46.70. The business's 50 day moving average is $37.68 and its 200-day moving average is $30.39.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.32 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Analysts forecast that Robert Half Inc. will post 1.27 EPS for the current year.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.3%. Robert Half's dividend payout ratio (DPR) is currently 205.22%.

Wall Street Analyst Weigh In

RHI has been the topic of a number of research analyst reports. Truist Financial increased their price target on Robert Half from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Robert W. Baird set a $47.00 price objective on shares of Robert Half in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Robert Half from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 18th. BMO Capital Markets raised shares of Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 price objective on the stock in a research report on Monday, July 27th. Finally, The Goldman Sachs Group raised their target price on shares of Robert Half from $26.00 to $29.00 and gave the stock a "sell" rating in a research note on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $34.75.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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