Hsbc Holdings PLC Sells 79,036 Shares of Robert Half Inc. $RHI

Key Points

• Hsbc Holdings PLC reduced its Robert Half stake by 64.6% in the first quarter, selling 79,036 shares and retaining 43,255 shares valued at approximately $1.1 million. Institutional investors collectively own 92.41% of the company.
• Robert Half reported quarterly adjusted earnings of $0.26 per share, in line with estimates, while revenue of $1.34 billion exceeded expectations but declined 2.4% year over year.
• The stock opened at $39.34, above the analyst consensus price target of $34.75. Analysts remain cautious overall, with three Buy, three Hold, and four Sell ratings, despite the company’s $0.59 quarterly dividend, representing a 6.0% yield.

Hsbc Holdings PLC cut its position in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 64.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,255 shares of the business services provider's stock after selling 79,036 shares during the quarter. Hsbc Holdings PLC's holdings in Robert Half were worth $1,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RHI. AQR Capital Management LLC lifted its position in Robert Half by 190.5% during the second quarter. AQR Capital Management LLC now owns 6,201,209 shares of the business services provider's stock valued at $254,560,000 after buying an additional 4,066,328 shares during the period. Pzena Investment Management LLC increased its stake in shares of Robert Half by 35.8% in the 1st quarter. Pzena Investment Management LLC now owns 5,966,734 shares of the business services provider's stock worth $151,555,000 after acquiring an additional 1,571,883 shares in the last quarter. Capital World Investors lifted its position in Robert Half by 36.0% during the 4th quarter. Capital World Investors now owns 5,902,279 shares of the business services provider's stock valued at $160,306,000 after acquiring an additional 1,561,146 shares during the period. Brickwood Asset Management LLP bought a new stake in Robert Half during the fourth quarter worth about $34,908,000. Finally, Norges Bank bought a new stake in Robert Half during the fourth quarter worth about $33,832,000. Institutional investors own 92.41% of the company's stock.

Robert Half Stock Performance

Shares of Robert Half stock opened at $39.34 on Wednesday. The company has a 50-day simple moving average of $32.76 and a two-hundred day simple moving average of $28.58. The stock has a market capitalization of $4.02 billion, a PE ratio of 34.21 and a beta of 0.82. Robert Half Inc. has a 52-week low of $21.83 and a 52-week high of $42.25.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.26 EPS for the quarter, meeting analysts' consensus estimates of $0.26. The firm had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, equities research analysts forecast that Robert Half Inc. will post 1.29 EPS for the current fiscal year.

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 6.0%. The ex-dividend date was Friday, May 22nd. Robert Half's dividend payout ratio (DPR) is currently 205.22%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RHI. Robert W. Baird set a $47.00 target price on shares of Robert Half in a research note on Monday. BMO Capital Markets upgraded Robert Half from a "market perform" rating to an "outperform" rating and set a $47.00 price target on the stock in a research note on Monday. Truist Financial raised their price objective on Robert Half from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Zacks Research upgraded Robert Half from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, June 17th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $34.75.

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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