Wellington Management Group LLP Grows Position in Robert Half Inc. $RHI

Key Points

• Wellington Management Group LLP increased its stake in Robert Half Inc. by 2.3%, acquiring an additional 19,494 shares during the first quarter.
• Robert Half's stock price increased by 5.3%, with a current market cap of $3.85 billion and recent quarterly earnings slightly beating analysts' expectations.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized yield of 6.2% and a payout ratio of 134.86%.

Wellington Management Group LLP lifted its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,853 shares of the business services provider's stock after purchasing an additional 19,494 shares during the period. Wellington Management Group LLP owned approximately 0.83% of Robert Half worth $46,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new stake in shares of Robert Half in the fourth quarter valued at about $35,000. Orion Capital Management LLC acquired a new stake in shares of Robert Half in the fourth quarter valued at about $41,000. CX Institutional acquired a new stake in shares of Robert Half in the first quarter valued at about $33,000. Manchester Capital Management LLC lifted its stake in shares of Robert Half by 45.0% in the first quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after purchasing an additional 256 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Robert Half by 80.4% in the first quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock valued at $80,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 92.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RHI. BNP Paribas Exane cut shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research note on Friday, May 2nd. JPMorgan Chase & Co. dropped their target price on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. BNP Paribas downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price for the company. in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $45.83.

Robert Half Trading Up 2.3%

Shares of NYSE RHI traded up $0.84 during midday trading on Friday, reaching $37.37. 1,875,300 shares of the stock were exchanged, compared to its average volume of 1,851,565. The company has a market capitalization of $3.80 billion, a P/E ratio of 21.35 and a beta of 1.02. Robert Half Inc. has a 52-week low of $33.18 and a 52-week high of $78.41. The stock has a 50 day moving average price of $38.98 and a 200-day moving average price of $45.99.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The business 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 company's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. On average, analysts forecast that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, August 25th. Robert Half's payout ratio is presently 134.86%.

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.