Jacobs Levy Equity Management Inc. Sells 150,239 Shares of 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 shares of Robert Half Inc. (NYSE:RHI - Free Report) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,135,165 shares of the business services provider's stock after selling 150,239 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.11% of Robert Half worth $61,923,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Robert Half during the first quarter valued at $3,195,000. GAMMA Investing LLC increased its position in Robert Half by 92.9% during the first quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider's stock valued at $114,000 after acquiring an additional 1,007 shares during the last quarter. Ieq Capital LLC increased its position in Robert Half by 43.8% during the first quarter. Ieq Capital LLC now owns 327,901 shares of the business services provider's stock valued at $17,887,000 after acquiring an additional 99,868 shares during the last quarter. Jefferies Financial Group Inc. increased its position in Robert Half by 119.4% during the first quarter. Jefferies Financial Group Inc. now owns 46,851 shares of the business services provider's stock valued at $2,556,000 after acquiring an additional 25,498 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Robert Half by 4.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 76,378 shares of the business services provider's stock valued at $4,166,000 after acquiring an additional 3,248 shares during the last quarter. Institutional investors own 92.41% of the company's stock.

Robert Half Stock Down 2.0%

RHI traded down $0.72 on Wednesday, reaching $35.13. 463,988 shares of the company traded hands, compared to its average volume of 1,704,844. Robert Half Inc. has a one year low of $33.18 and a one year high of $78.41. The firm has a fifty day simple moving average of $38.36 and a two-hundred day simple moving average of $44.79. The company has a market cap of $3.57 billion, a P/E ratio of 20.09 and a beta of 1.03.

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

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 6.7%. The ex-dividend date is Monday, August 25th. Robert Half's dividend payout ratio is presently 134.86%.

Analyst Ratings Changes

A number of research analysts have weighed in on RHI shares. JPMorgan Chase & Co. cut their price objective on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.83.

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.