Invesco Ltd. Acquires 377,305 Shares of Robert Half Inc. $RHI

Key Points

• Invesco Ltd. increased its holdings in Robert Half Inc. by 73.3%, owning 892,336 shares valued at approximately $48.7 million after acquiring an additional 377,305 shares in Q1.
• Robert Half announced a quarterly dividend of $0.59 per share, set to be paid on September 15th, giving a total annualized dividend of $2.36 and a yield of 6.5%.
• Recent earnings reports showed that Robert Half achieved $0.41 EPS for the quarter, exceeding analyst estimates, but reported a 7.0% decrease in revenue compared to the previous year.

Invesco Ltd. grew its position in Robert Half Inc. (NYSE:RHI - Free Report) by 73.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 892,336 shares of the business services provider's stock after buying an additional 377,305 shares during the quarter. Invesco Ltd. owned 0.87% of Robert Half worth $48,677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new stake in shares of Robert Half during the first quarter valued at $71,175,000. Balyasny Asset Management L.P. boosted its stake in shares of Robert Half by 5,172.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 693,394 shares of the business services provider's stock worth $48,857,000 after purchasing an additional 680,242 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Robert Half by 293.3% during the fourth quarter. Wellington Management Group LLP now owns 831,359 shares of the business services provider's stock worth $58,578,000 after buying an additional 619,982 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Robert Half by 61.7% during the fourth quarter. Point72 Asset Management L.P. now owns 985,558 shares of the business services provider's stock worth $69,442,000 after buying an additional 375,911 shares in the last quarter. Finally, Pzena Investment Management LLC raised its position in shares of Robert Half by 29.2% in the first quarter. Pzena Investment Management LLC now owns 1,318,708 shares of the business services provider's stock valued at $71,936,000 after buying an additional 298,368 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

Robert Half Stock Performance

RHI traded up $0.7740 during trading on Tuesday, reaching $36.5840. The company had a trading volume of 1,566,732 shares, compared to its average volume of 2,061,374. The firm's 50-day simple moving average is $39.84 and its 200 day simple moving average is $47.22. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 20.91 and a beta of 1.02. Robert Half Inc. has a 12-month low of $33.18 and a 12-month high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.35 billion. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The business's revenue for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. On average, sell-side analysts expect that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be given a dividend of $0.59 per share. The ex-dividend date is Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a yield of 6.5%. Robert Half's dividend payout ratio (DPR) is presently 134.86%.

Analysts Set New Price Targets

A number of research firms have recently commented on RHI. JPMorgan Chase & Co. dropped their price objective on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, July 24th. Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Truist Financial set a $55.00 target price on Robert Half and gave the company a "buy" rating in a research report on Thursday, April 24th. Barclays reduced their price target 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. Finally, BNP Paribas Exane lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a report on Friday, May 2nd. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $45.83.

Robert Half Company Profile

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.