Corient Private Wealth LP Invests $15.65 Million in Robert Half Inc. $RHI

Key Points

• Corient Private Wealth LP acquired 509,684 Robert Half shares in the second quarter, worth approximately $15.65 million and representing about 0.5% of the company. Institutional investors collectively own 92.41% of RHI.
• Robert Half reported quarterly EPS of $0.26, in line with estimates, while revenue of $1.34 billion exceeded forecasts but declined 2.4% year over year.
• The company announced a quarterly dividend of $0.59 per share, equivalent to an annualized $2.36 dividend and a 5.2% yield. Analysts maintain a consensus “Hold” rating with a $34.75 price target, below the stock’s reported $45.34 price.

Corient Private Wealth LP acquired a new stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 509,684 shares of the business services provider's stock, valued at approximately $15,647,000. Corient Private Wealth LP owned about 0.50% of Robert Half at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RHI. Bank of America Corp DE purchased a new position in Robert Half during the 2nd quarter worth $38,460,000. Man Group plc purchased a new stake in Robert Half in the second quarter valued at about $672,000. Jupiter Topco LLC purchased a new stake in Robert Half in the second quarter valued at about $1,264,000. Stanley Capital Management LLC acquired a new stake in Robert Half in the second quarter worth about $14,751,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Robert Half during the second quarter worth about $1,252,000. Institutional investors and hedge funds own 92.41% of the company's stock.

Robert Half Stock Performance

Shares of RHI opened at $45.34 on Friday. The stock has a 50-day moving average of $38.47 and a two-hundred day moving average of $30.68. Robert Half Inc. has a one year low of $21.83 and a one year high of $46.70. The stock has a market cap of $4.64 billion, a P/E ratio of 39.43 and a beta of 0.79.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, meeting analysts' consensus estimates of $0.26. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The company's revenue was down 2.4% on a year-over-year basis. Analysts predict that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th will be given a $0.59 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $2.36 dividend on an annualized basis and a yield of 5.2%. Robert Half's dividend payout ratio is currently 205.22%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RHI shares. Robert W. Baird set a $47.00 price objective on shares of Robert Half in a report on Monday, July 27th. Zacks Research upgraded shares of Robert Half from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Robert Half from a "sell (d+)" rating to a "hold (c-)" rating in a research note 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 target price on the stock in a research report on Monday, July 27th. Finally, The Goldman Sachs Group upped their price target on shares of Robert Half from $26.00 to $29.00 and gave the company a "sell" rating in a research note on Friday, July 24th. Three 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 MarketBeat.com, Robert Half 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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