Robert Half Inc. $RHI Shares Sold by Millennium Management LLC

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 cut its position in Robert Half Inc. (NYSE:RHI - Free Report) by 22.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 459,454 shares of the business services provider's stock after selling 130,108 shares during the quarter. Millennium Management LLC owned 0.45% of Robert Half worth $25,063,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of RHI. Charles Schwab Investment Management Inc. grew its stake in Robert Half by 5.4% during the 1st 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 in the last quarter. Alliancebernstein L.P. grew its holdings in Robert Half by 1.6% during the 1st quarter. Alliancebernstein L.P. now owns 3,268,435 shares of the business services provider's stock worth $178,293,000 after acquiring an additional 50,436 shares in the last quarter. Fiduciary Management Inc. WI grew its holdings in Robert Half by 14.4% during the 1st quarter. Fiduciary Management Inc. WI now owns 2,576,782 shares of the business services provider's stock worth $140,563,000 after acquiring an additional 325,241 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Robert Half by 27.2% during the first quarter. AQR Capital Management LLC now owns 2,134,881 shares of the business services provider's stock worth $115,348,000 after purchasing an additional 457,025 shares in the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of Robert Half by 29.2% during 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 in the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. JPMorgan Chase & Co. decreased their target price on Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $45.83.

Robert Half Stock Down 0.0%

Shares of Robert Half stock traded down $0.02 during trading on Wednesday, hitting $35.48. 123,727 shares of the company were exchanged, compared to its average volume of 1,694,683. Robert Half Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $78.41. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 20.31 and a beta of 1.03. The firm has a 50 day moving average price of $37.66 and a 200 day moving average price of $43.96.

Robert Half (NYSE:RHI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. Analysts predict 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 was paid on Monday, September 15th. Investors of record on Monday, August 25th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.36 annualized dividend and a yield of 6.7%. Robert Half's dividend payout ratio is 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.