Millennium Management LLC Sells 130,108 Shares of Robert Half Inc. $RHI

Key Points

• Millennium Management LLC reduced its stake in Robert Half Inc. by 22.1% in the first quarter, selling 130,108 shares, and now owns about 0.45% worth $25 million.
• Multiple institutional investors increased their holdings in Robert Half, with GAMMA Investing LLC and Ieq Capital LLC raising stakes by 92.9% and 43.8%, respectively.
• Robert Half recently reported a quarterly earnings per share (EPS) of $0.41, beating expectations, despite a 7% decline in revenue compared to the same quarter last year.

Millennium Management LLC trimmed its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 22.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 459,454 shares of the business services provider's stock after selling 130,108 shares during the period. Millennium Management LLC owned approximately 0.45% of Robert Half worth $25,063,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

RHI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on 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 report on Sunday, August 3rd. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $45.83.

Robert Half Stock Up 4.0%

RHI opened at $36.41 on Friday. The stock's fifty day moving average is $38.07 and its two-hundred day moving average is $44.56. The company has a market capitalization of $3.70 billion, a P/E ratio of 20.81 and a beta of 1.03. Robert Half Inc. has a 52 week low of $33.18 and a 52 week high of $78.41.

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

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be issued a $0.59 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.5%. Robert Half's dividend payout ratio (DPR) is currently 134.86%.

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.

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