Invesco Ltd. Buys 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. increased its stake 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 fund owned 892,336 shares of the business services provider's stock after buying an additional 377,305 shares during the quarter. Invesco Ltd. owned about 0.87% of Robert Half worth $48,677,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in Robert Half by 5.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,618,177 shares of the business services provider's stock worth $197,372,000 after purchasing an additional 184,592 shares during the period. First Trust Advisors LP increased its stake in Robert Half by 1.9% in the fourth quarter. First Trust Advisors LP now owns 1,975,037 shares of the business services provider's stock worth $139,161,000 after purchasing an additional 36,150 shares during the period. Pzena Investment Management LLC increased its stake in 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 worth $71,936,000 after purchasing an additional 298,368 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Robert Half in the first quarter worth $71,175,000. Finally, Northern Trust Corp increased its stake in Robert Half by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,067,255 shares of the business services provider's stock worth $75,199,000 after purchasing an additional 169,682 shares during the period. Hedge funds and other institutional investors own 92.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RHI. BNP Paribas lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price on the stock. in a research note on Friday, May 2nd. JPMorgan Chase & Co. reduced their target price 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 reduced their target price on Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group cut their price target 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. Finally, Truist Financial set a $55.00 price target on Robert Half and gave the company a "buy" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $45.83.

Robert Half Trading Up 6.0%

Shares of Robert Half stock traded up $2.1410 during trading on Friday, hitting $38.1010. 404,580 shares of the stock traded hands, compared to its average volume of 1,708,292. The firm has a market cap of $3.88 billion, a P/E ratio of 21.73 and a beta of 1.02. Robert Half Inc. has a 52-week low of $33.18 and a 52-week high of $78.41. The stock's fifty day simple moving average is $39.54 and its 200 day simple moving average is $46.96.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings results 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. Robert Half had a return on equity of 13.00% and a net margin of 3.20%.The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The business's revenue for the quarter was down 7.0% on a year-over-year basis. As a group, equities analysts expect that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a yield of 6.2%. Robert Half's dividend payout ratio (DPR) is presently 134.86%.

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.