Pzena Investment Management LLC Makes New Investment in Robert Half Inc. $RHI

Pzena Investment Management LLC purchased a new stake in shares of Robert Half Inc. (NYSE:RHI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,222,305 shares of the business services provider’s stock, valued at approximately $191,025,000. Pzena Investment Management LLC owned about 0.06% of Robert Half at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Robert Half in the 2nd quarter valued at approximately $409,875,000. AQR Capital Management LLC boosted its position in shares of Robert Half by 190.5% during the 2nd quarter. AQR Capital Management LLC now owns 6,201,209 shares of the business services provider’s stock worth $254,560,000 after purchasing an additional 4,066,328 shares during the period. Capital World Investors boosted its position in shares of Robert Half by 36.0% during the 4th quarter. Capital World Investors now owns 5,902,279 shares of the business services provider’s stock worth $160,306,000 after purchasing an additional 1,561,146 shares during the period. Brickwood Asset Management LLP purchased a new stake in Robert Half in the fourth quarter valued at approximately $34,908,000. Finally, Norges Bank acquired a new position in Robert Half during the fourth quarter worth $33,832,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Robert Half Stock Down 2.0%

Shares of Robert Half stock opened at $42.36 on Tuesday. Robert Half Inc. has a 52 week low of $21.83 and a 52 week high of $44.47. The firm’s 50 day moving average is $36.16 and its two-hundred day moving average is $29.82. The firm has a market capitalization of $4.34 billion, a P/E ratio of 36.84 and a beta of 0.79.

Robert Half (NYSE:RHI) last issued 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 business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, research analysts expect that Robert Half Inc. will post 1.27 earnings per share for the current fiscal year.

Robert Half Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets raised Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Monday, July 27th. Robert W. Baird set a $47.00 target price on Robert Half in a report on Monday, July 27th. Weiss Ratings upgraded shares of Robert Half from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, June 17th. The Goldman Sachs Group boosted their target price on Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Friday, July 24th. Finally, William Blair upgraded shares of Robert Half from a “market perform” rating to an “outperform” rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $34.75.

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.