UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Robert Half Inc. $RHI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Robert Half Inc. (NYSE:RHI) by 16.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 384,686 shares of the business services provider’s stock after selling 78,181 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.38% of Robert Half worth $11,810,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Robert Half in the second quarter valued at about $409,875,000. AQR Capital Management LLC raised its holdings in shares of Robert Half by 24.8% in the 3rd quarter. AQR Capital Management LLC now owns 7,738,454 shares of the business services provider’s stock worth $262,953,000 after purchasing an additional 1,537,245 shares during the period. Pzena Investment Management LLC bought a new stake in shares of Robert Half in the 2nd quarter worth approximately $191,025,000. Capital World Investors lifted its stake in Robert Half by 36.0% in the fourth quarter. Capital World Investors now owns 5,902,279 shares of the business services provider’s stock valued at $160,306,000 after purchasing an additional 1,561,146 shares during the last quarter. Finally, State Street Corp lifted its stake in Robert Half by 2.7% in 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 purchasing an additional 127,322 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Robert Half Trading Down 0.2%

Shares of RHI opened at $42.49 on Monday. The company has a market cap of $4.35 billion, a PE ratio of 36.95 and a beta of 0.81. The stock has a 50-day moving average price of $39.78 and a 200-day moving average price of $31.29. Robert Half Inc. has a 12-month low of $21.83 and a 12-month high of $46.70.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. Robert Half’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. As a group, analysts predict that Robert Half Inc. will post 1.27 earnings per share for the current year.

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.6%. Robert Half’s dividend payout ratio is presently 205.22%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets raised Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a research report on Monday, July 27th. Truist Financial upped their price target on Robert Half from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group increased their price target on Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Friday, July 24th. Zacks Research raised Robert Half from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Robert W. Baird set a $47.00 price objective on Robert Half in a research note on Monday, July 27th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Robert Half presently has a consensus rating of “Hold” and an average price target of $34.75.

About Robert Half

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.