Magnetar Financial LLC Acquires Shares of 26,085 Robert Half Inc. (NYSE:RHI)

Magnetar Financial LLC acquired a new stake in shares of Robert Half Inc. (NYSE:RHI) during the first quarter, HoldingsChannel.com reports. The firm acquired 26,085 shares of the business services provider’s stock, valued at approximately $2,068,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RHI. Mawer Investment Management Ltd. raised its holdings in shares of Robert Half by 105.4% in the first quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock worth $289,818,000 after buying an additional 1,875,476 shares during the period. Capital World Investors boosted its position in shares of Robert Half by 6.7% in the 4th quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock worth $1,281,429,000 after purchasing an additional 917,311 shares in the last quarter. Boston Partners boosted its position in shares of Robert Half by 36.5% in the 4th quarter. Boston Partners now owns 3,270,365 shares of the business services provider’s stock worth $287,265,000 after purchasing an additional 874,620 shares in the last quarter. Norges Bank acquired a new stake in shares of Robert Half in the 4th quarter worth $73,311,000. Finally, Vanguard Group Inc. lifted its position in Robert Half by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 12,795,282 shares of the business services provider’s stock worth $1,014,410,000 after acquiring an additional 366,978 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Robert Half

In other news, Director Dirk A. Kempthorne sold 2,221 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $69.66, for a total transaction of $154,714.86. Following the sale, the director now owns 10,713 shares of the company’s stock, valued at $746,267.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Robert Half Price Performance

RHI traded up $2.39 during trading hours on Friday, reaching $62.31. The company’s stock had a trading volume of 2,117,257 shares, compared to its average volume of 1,274,214. Robert Half Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $88.39. The stock has a market cap of $6.54 billion, a PE ratio of 18.66, a P/E/G ratio of 5.24 and a beta of 1.25. The business’s 50-day moving average is $64.40 and its 200-day moving average is $72.69.

Robert Half (NYSE:RHI) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a net margin of 5.26% and a return on equity of 20.41%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. Analysts expect that Robert Half Inc. will post 2.69 EPS for the current year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Thursday, May 23rd. Robert Half’s payout ratio is 63.47%.

Analyst Ratings Changes

RHI has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price target on Robert Half from $74.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial cut their price target on Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a research note on Friday. StockNews.com cut Robert Half from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Barclays lowered their target price on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Robert W. Baird lowered their target price on Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.86.

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.