Weiss Asset Management LP Takes $1.23 Million Position in Robert Half Inc. $RHI

Weiss Asset Management LP purchased a new stake in shares of Robert Half Inc. (NYSE:RHI) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 48,400 shares of the business services provider’s stock, valued at approximately $1,229,000.

A number of other hedge funds have also bought and sold shares of the business. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Robert Half during the first quarter worth $206,000. Morningstar Investment Management LLC purchased a new position in shares of Robert Half in the first quarter valued at $1,875,000. Sei Investments Co. raised its stake in shares of Robert Half by 163.7% during the 1st quarter. Sei Investments Co. now owns 284,936 shares of the business services provider’s stock valued at $7,237,000 after purchasing an additional 176,882 shares during the period. State of Wyoming lifted its holdings in Robert Half by 30.4% during the 1st quarter. State of Wyoming now owns 6,173 shares of the business services provider’s stock worth $157,000 after purchasing an additional 1,438 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Robert Half by 281.2% during the 1st quarter. First Trust Advisors LP now owns 1,333,720 shares of the business services provider’s stock worth $33,876,000 after purchasing an additional 983,842 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on RHI. Zacks Research raised Robert Half from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Robert W. Baird set a $47.00 price objective on shares of Robert Half in a research report on Monday. Weiss Ratings raised shares of Robert Half from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group increased their target price on shares of Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Friday. Finally, William Blair raised shares of Robert Half from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $34.75.

Robert Half Stock Up 12.5%

Shares of NYSE RHI opened at $39.71 on Tuesday. The stock’s 50-day simple moving average is $32.49 and its two-hundred day simple moving average is $28.50. Robert Half Inc. has a twelve month low of $21.83 and a twelve month high of $42.25. The firm has a market capitalization of $4.06 billion, a P/E ratio of 34.53 and a beta of 0.82.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted $0.41 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts anticipate that Robert Half Inc. will post 1.29 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 22nd were given a dividend of $0.59 per share. The ex-dividend date was Friday, May 22nd. This represents a $2.36 annualized dividend and a yield of 5.9%. Robert Half’s 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.