Robert Half Inc. $RHI Shares Purchased by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its Robert Half stake by 1,389.6% in the first quarter, acquiring 63,781 additional shares for a total position worth approximately $1.74 million. Institutional investors and hedge funds collectively own 92.41% of the company.
• Robert Half reported quarterly EPS of $0.26, matching estimates, while revenue of $1.34 billion exceeded forecasts but declined 2.4% year over year. Analysts maintain a consensus “Reduce” rating with a $34.75 price target.
• The stock opened at $43.76, near its 12-month high, and the company declared a quarterly dividend of $0.59 per share, equivalent to a 5.4% annualized yield.

Royal Bank of Canada increased its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 1,389.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,371 shares of the business services provider's stock after acquiring an additional 63,781 shares during the quarter. Royal Bank of Canada owned approximately 0.07% of Robert Half worth $1,736,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in Robert Half by 3.5% during the third quarter. Quadrant Capital Group LLC now owns 12,069 shares of the business services provider's stock valued at $410,000 after purchasing an additional 407 shares in the last quarter. IFP Advisors Inc raised its position in shares of Robert Half by 9.0% during the 4th quarter. IFP Advisors Inc now owns 6,845 shares of the business services provider's stock worth $186,000 after purchasing an additional 564 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Robert Half by 94.3% during the 4th quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider's stock worth $37,000 after purchasing an additional 664 shares during the last quarter. Inspire Advisors LLC raised its position in shares of Robert Half by 5.0% during the 4th quarter. Inspire Advisors LLC now owns 14,059 shares of the business services provider's stock worth $382,000 after purchasing an additional 669 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Robert Half by 321.0% in the 4th quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider's stock valued at $27,000 after buying an additional 764 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RHI shares. Truist Financial boosted their price objective on Robert Half from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Robert W. Baird set a $47.00 target price on Robert Half in a research report on Monday, July 27th. Weiss Ratings raised Robert Half from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, June 17th. William Blair upgraded Robert Half from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group increased their price objective on Robert Half from $26.00 to $29.00 and gave the company a "sell" rating in a research note on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $34.75.

Robert Half Trading Up 3.0%

RHI stock opened at $43.76 on Wednesday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 38.05 and a beta of 0.79. Robert Half Inc. has a 12 month low of $21.83 and a 12 month high of $44.47. The firm has a 50-day moving average of $36.43 and a two-hundred day moving average of $29.94.

Robert Half (NYSE:RHI - Get Free Report) last released its earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting analysts' consensus estimates of $0.26. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The business's revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. As a group, equities analysts forecast that Robert Half Inc. will post 1.27 earnings per share for the current year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, August 25th. Robert Half's dividend payout ratio is presently 205.22%.

Robert Half Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half's shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.

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