Robert Half Inc. (NYSE:RHI) Shares Acquired by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. increased its position in Robert Half Inc. by 23.1%, owning a total of $13.70 million worth of shares after purchasing an additional 47,160 shares in the first quarter.
• Despite the addition of institutional investors, Robert Half's stock recently fell by 6.0%, with a current market price of $39.86, compared to a 12-month high of $78.41.
• Robert Half announced a quarterly dividend of $0.59 per share, leading to an annualized dividend yield of 5.92%, though the company has a payout ratio of 134.86%.

Heartland Advisors Inc. lifted its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 23.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 251,199 shares of the business services provider's stock after buying an additional 47,160 shares during the quarter. Heartland Advisors Inc. owned about 0.25% of Robert Half worth $13,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Xponance Inc. grew its stake in shares of Robert Half by 17.8% in the fourth quarter. Xponance Inc. now owns 6,195 shares of the business services provider's stock worth $436,000 after acquiring an additional 936 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Robert Half by 41.1% during the 4th quarter. Teacher Retirement System of Texas now owns 27,668 shares of the business services provider's stock valued at $1,949,000 after buying an additional 8,056 shares during the period. American Century Companies Inc. boosted its position in Robert Half by 6.4% in the fourth quarter. American Century Companies Inc. now owns 197,696 shares of the business services provider's stock worth $13,930,000 after purchasing an additional 11,854 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Robert Half during the fourth quarter valued at approximately $1,754,000. Finally, LPL Financial LLC increased its stake in shares of Robert Half by 12.8% in the 4th quarter. LPL Financial LLC now owns 35,554 shares of the business services provider's stock worth $2,505,000 after purchasing an additional 4,021 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

Robert Half Stock Performance

Robert Half stock traded down $0.64 during midday trading on Tuesday, hitting $38.85. 360,411 shares of the company's stock were exchanged, compared to its average volume of 1,684,778. The company has a market cap of $3.97 billion, a PE ratio of 22.23 and a beta of 1.00. Robert Half Inc. has a 12 month low of $38.84 and a 12 month high of $78.41. The firm has a 50-day moving average of $42.91 and a two-hundred day moving average of $50.83.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The business's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 EPS. As a group, equities analysts expect that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.07%. Robert Half's dividend payout ratio is currently 134.86%.

Wall Street Analysts Forecast Growth

RHI has been the topic of a number of recent analyst reports. Truist Financial set a $55.00 target price on shares of Robert Half and gave the stock a "buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their price objective on Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Barclays decreased their target price on shares of Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. BNP Paribas Exane downgraded Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target for the company. in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group cut their target price on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research note on Thursday, April 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Robert Half has an average rating of "Hold" and an average target price of $45.83.

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.