Robert Half Inc. $RHI Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co WEALTH MANAGEMENT LLC sharply reduced its Robert Half position by 79.4% in the fourth quarter, selling 154,616 shares and leaving it with 40,076 shares worth about $1.09 million.
• Robert Half reported Q1 earnings of $0.14 per share, matching estimates, but revenue of $1.30 billion came in below expectations and fell 3.8% from a year earlier.
• The company declared a quarterly dividend of $0.59 per share, implying an annualized yield of 8.7%, while Wall Street analysts currently hold a consensus rating of “Reduce” with a target price of $31.75.

GRIMES & Co WEALTH MANAGEMENT LLC cut its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 79.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,076 shares of the business services provider's stock after selling 154,616 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Robert Half were worth $1,088,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in Robert Half by 24.8% during the third quarter. AQR Capital Management LLC now owns 7,738,454 shares of the business services provider's stock valued at $262,953,000 after buying an additional 1,537,245 shares during the period. Capital Research Global Investors grew its position in Robert Half by 0.3% during the third quarter. Capital Research Global Investors now owns 5,971,698 shares of the business services provider's stock valued at $202,918,000 after buying an additional 15,815 shares during the period. State Street Corp grew its position in Robert Half by 2.7% during the second quarter. State Street Corp now owns 4,873,440 shares of the business services provider's stock valued at $200,055,000 after buying an additional 127,322 shares during the period. Capital World Investors grew its position in Robert Half by 460.5% during the third quarter. Capital World Investors now owns 4,341,133 shares of the business services provider's stock valued at $147,512,000 after buying an additional 3,566,645 shares during the period. Finally, Pzena Investment Management LLC grew its position in Robert Half by 33.8% during the third quarter. Pzena Investment Management LLC now owns 3,179,968 shares of the business services provider's stock valued at $108,055,000 after buying an additional 802,691 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

Robert Half Stock Down 1.6%

RHI opened at $26.98 on Friday. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 20.75 and a beta of 0.80. Robert Half Inc. has a 52-week low of $21.83 and a 52-week high of $48.54. The firm's fifty day simple moving average is $25.11 and its two-hundred day simple moving average is $26.78.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The business services provider reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. Robert Half had a net margin of 2.43% and a return on equity of 10.14%. The company's revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. On average, research analysts forecast that Robert Half Inc. will post 1.36 EPS for the current year.

Robert Half Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Friday, May 22nd. Robert Half's dividend payout ratio (DPR) is presently 181.54%.

Wall Street Analysts Forecast Growth

RHI has been the topic of several analyst reports. William Blair upgraded shares of Robert Half from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of Robert Half from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, April 27th. JPMorgan Chase & Co. raised their price target on shares of Robert Half from $29.00 to $31.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Barclays dropped their price target on shares of Robert Half from $36.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Friday, March 6th. Finally, BMO Capital Markets dropped their price target on shares of Robert Half from $35.00 to $32.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 17th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $31.75.

Robert Half Company 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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