Jacobs Levy Equity Management Inc. Lowers Position in Robert Half Inc. $RHI

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in Robert Half Inc. by 11.7%, selling 150,239 shares to own about 1.11% of the company valued at approximately $61.9 million.
• Robert Half announced a quarterly dividend of $0.59 per share, with a dividend yield of 6.3%, indicating a payout ratio of 134.86%.
• Despite a 7.0% year-over-year decline in revenue, Robert Half beat earnings estimates with a reported EPS of $0.41, surpassing the consensus estimate of $0.40.

Jacobs Levy Equity Management Inc. lowered its holdings in Robert Half Inc. (NYSE:RHI - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,135,165 shares of the business services provider's stock after selling 150,239 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.11% of Robert Half worth $61,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised its holdings in shares of Robert Half by 540.8% in the 1st quarter. Quarry LP now owns 487 shares of the business services provider's stock valued at $27,000 after acquiring an additional 411 shares in the last quarter. CX Institutional bought a new position in shares of Robert Half during the 1st quarter valued at about $33,000. Orion Capital Management LLC bought a new position in shares of Robert Half during the 4th quarter valued at about $41,000. Manchester Capital Management LLC increased its position in shares of Robert Half by 45.0% during the 1st quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after purchasing an additional 256 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Robert Half by 80.4% during the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock valued at $80,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

Analyst Upgrades and Downgrades

RHI has been the topic of several recent research reports. Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. 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 report on Thursday, July 24th. One research 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 data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $45.83.

Robert Half Trading Down 0.1%

Shares of RHI stock traded down $0.02 during trading hours on Tuesday, reaching $35.91. The company's stock had a trading volume of 1,186,703 shares, compared to its average volume of 1,712,334. The stock has a market capitalization of $3.65 billion, a P/E ratio of 20.52 and a beta of 1.03. Robert Half Inc. has a one year low of $33.18 and a one year high of $78.41. The firm's fifty day simple moving average is $38.50 and its 200 day simple moving average is $44.86.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The firm had revenue of $1.37 billion for 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 quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. As a group, equities research analysts forecast that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Monday, August 25th. Robert Half's dividend payout ratio (DPR) is currently 134.86%.

Robert Half 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.