Geode Capital Management LLC Boosts Holdings in Robert Half Inc. $RHI

Key Points

• Geode Capital Management increased its Robert Half stake by 13% in the fourth quarter, buying 275,004 more shares and bringing its holdings to 2.4 million shares worth about $65.1 million.
• Robert Half reported Q1 earnings of $0.14 per share, matching estimates, but revenue of $1.30 billion came in below expectations and fell 3.8% from a year earlier.
• The company announced a quarterly dividend of $0.59 per share, implying a 7.6% yield, while analysts currently have a consensus rating of “Reduce” with a $31.75 price target.

Geode Capital Management LLC raised its holdings in Robert Half Inc. (NYSE:RHI - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,396,148 shares of the business services provider's stock after purchasing an additional 275,004 shares during the quarter. Geode Capital Management LLC owned 2.37% of Robert Half worth $65,090,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RHI. AQR Capital Management LLC boosted its stake in shares of Robert Half by 190.5% during the 2nd quarter. AQR Capital Management LLC now owns 6,201,209 shares of the business services provider's stock worth $254,560,000 after acquiring an additional 4,066,328 shares in the last quarter. Capital World Investors boosted its stake in shares of Robert Half by 460.5% during the 3rd quarter. Capital World Investors now owns 4,341,133 shares of the business services provider's stock worth $147,512,000 after acquiring an additional 3,566,645 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of Robert Half by 38.2% during the 4th quarter. Pzena Investment Management LLC now owns 4,394,851 shares of the business services provider's stock worth $119,364,000 after acquiring an additional 1,214,883 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Robert Half by 1,478.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,145,456 shares of the business services provider's stock worth $47,021,000 after acquiring an additional 1,072,895 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of Robert Half by 40.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,440,961 shares of the business services provider's stock worth $66,297,000 after acquiring an additional 707,078 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Robert Half Stock Down 0.9%

RHI opened at $30.99 on Tuesday. Robert Half Inc. has a twelve month low of $21.83 and a twelve month high of $45.67. The company has a 50-day moving average price of $26.86 and a 200 day moving average price of $26.82. The company has a market cap of $3.17 billion, a PE ratio of 23.84 and a beta of 0.84.

Robert Half (NYSE:RHI - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The business services provider reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. Robert Half had a net margin of 2.43% and a return on equity of 10.14%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The company's revenue for the quarter was down 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Robert Half Inc. will post 1.29 earnings per share for the current year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 7.6%. The ex-dividend date is Friday, May 22nd. Robert Half's dividend payout ratio is 181.54%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Robert Half from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, May 22nd. BMO Capital Markets lowered their target price on shares of Robert Half from $35.00 to $32.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 17th. Barclays lowered their target price on shares of Robert Half from $36.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Friday, March 6th. Zacks Research lowered shares of Robert Half from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 29th. Finally, William Blair raised shares of Robert Half from a "market perform" rating to an "outperform" rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $31.75.

Robert Half Company Profile

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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