Hsbc Holdings PLC Acquires New Position in Robert Half Inc. $RHI

Key Points

• HSBC Holdings acquired 41,057 shares of Robert Half in the second quarter, worth approximately $1.25 million. Institutional investors and hedge funds collectively own 92.41% of the company.
• Robert Half reported quarterly EPS of $0.26, in line with estimates, while revenue of $1.34 billion exceeded expectations but declined 2.4% year over year.
• The company declared a quarterly dividend of $0.59, equivalent to an annualized $2.36 payout and a 5.2% yield. Analysts remain divided, with a consensus rating of “Hold” and an average price target of $34.75.

Hsbc Holdings PLC acquired a new stake in Robert Half Inc. (NYSE:RHI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 41,057 shares of the business services provider's stock, valued at approximately $1,252,000.

Several other institutional investors and hedge funds have also made changes to their positions in RHI. Royal Bank of Canada increased its holdings in shares of 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 purchasing an additional 6,212 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Robert Half by 498.7% during the first quarter. Jones Financial Companies Lllp now owns 6,813 shares of the business services provider's stock worth $372,000 after buying an additional 5,675 shares during the last quarter. Goldman Sachs Group Inc. boosted its position 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 valued at $16,603,000 after acquiring an additional 7,523 shares during the last quarter. Empowered Funds LLC boosted its holdings in Robert Half by 91.8% in the 1st quarter. Empowered Funds LLC now owns 55,719 shares of the business services provider's stock valued at $3,039,000 after purchasing an additional 26,672 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in Robert Half by 94.6% in the second quarter. Sivia Capital Partners LLC now owns 8,098 shares of the business services provider's stock valued at $332,000 after acquiring an additional 3,937 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Robert Half Price Performance

Shares of NYSE RHI opened at $45.20 on Tuesday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 39.30 and a beta of 0.79. The stock's 50-day moving average is $38.79 and its two-hundred day moving average is $30.80. Robert Half Inc. has a 1-year low of $21.83 and a 1-year high of $46.70.

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 (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter last year, the business posted $0.41 EPS. The business's quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that Robert Half Inc. will post 1.27 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, August 25th will be paid 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 payout ratio is currently 205.22%.

Analyst Ratings Changes

Several research analysts have weighed in on RHI shares. Truist Financial increased their target price on shares of Robert Half from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group lifted their price objective on shares of Robert Half from $26.00 to $29.00 and gave the company a "sell" rating in a report on Friday, July 24th. Weiss Ratings raised 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 upgraded 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 report on Monday, July 27th. Finally, Zacks Research raised shares of Robert Half from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $34.75.

Robert Half 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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