Robert Half International Inc. (NYSE:RHI) Stock Position Raised by Toroso Investments LLC

Posted by MarketBeat News on Mar 18th, 2023

Toroso Investments LLC raised its position in shares of Robert Half International Inc. (NYSE:RHI – Get Rating) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,334 shares of the business services provider’s stock after purchasing an additional 2,022 shares during the period. Toroso Investments LLC’s holdings in Robert Half International were worth $1,709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Macquarie Group Ltd. raised its stake in shares of Robert Half International by 42.1% in the 3rd quarter. Macquarie Group Ltd. now owns 24,707 shares of the business services provider’s stock valued at $1,890,000 after acquiring an additional 7,315 shares in the last quarter. Advisors Asset Management Inc. increased its position in Robert Half International by 41.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,421 shares of the business services provider’s stock worth $331,000 after buying an additional 1,302 shares during the period. Synovus Financial Corp grew its holdings in shares of Robert Half International by 6.1% during the 2nd quarter. Synovus Financial Corp now owns 5,604 shares of the business services provider’s stock worth $421,000 after purchasing an additional 323 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Robert Half International by 19.7% during the 3rd quarter. CIBC Asset Management Inc now owns 15,350 shares of the business services provider’s stock worth $1,174,000 after purchasing an additional 2,531 shares in the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of Robert Half International during the 3rd quarter worth approximately $72,000. 94.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com assumed coverage on Robert Half International in a report on Thursday. They set a “buy” rating on the stock. BNP Paribas began coverage on Robert Half International in a research note on Thursday, January 5th. They issued an “underperform” rating and a $70.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Robert Half International from $76.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, January 27th. Finally, BMO Capital Markets decreased their price target on Robert Half International from $79.00 to $78.00 and set a “market perform” rating on the stock in a research note on Monday, January 30th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.44.

Insider Buying and Selling at Robert Half International

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In other news, EVP Robert W. Glass sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $80.94, for a total value of $1,011,750.00. Following the completion of the sale, the executive vice president now directly owns 217,049 shares of the company’s stock, valued at $17,567,946.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Robert W. Glass sold 12,500 shares of Robert Half International stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $80.94, for a total transaction of $1,011,750.00. Following the completion of the sale, the executive vice president now directly owns 217,049 shares of the company’s stock, valued at approximately $17,567,946.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dirk A. Kempthorne sold 3,456 shares of Robert Half International stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $80.54, for a total value of $278,346.24. Following the sale, the director now directly owns 10,828 shares of the company’s stock, valued at $872,087.12. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Robert Half International Trading Down 2.2 %

NYSE RHI opened at $73.38 on Friday. The stock has a 50-day simple moving average of $80.34 and a 200 day simple moving average of $77.70. The company has a market capitalization of $7.90 billion, a PE ratio of 12.19, a P/E/G ratio of 2.83 and a beta of 1.32. Robert Half International Inc. has a 12 month low of $65.40 and a 12 month high of $122.29.

Robert Half International (NYSE:RHI – Get Rating) last posted its earnings results on Thursday, January 26th. The business services provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.01. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Robert Half International had a return on equity of 44.01% and a net margin of 9.09%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 earnings per share. As a group, sell-side analysts predict that Robert Half International Inc. will post 4.81 earnings per share for the current fiscal year.

Robert Half International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Friday, February 24th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.62%. This is an increase from Robert Half International’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, February 23rd. Robert Half International’s dividend payout ratio (DPR) is currently 31.89%.

Robert Half International announced that its Board of Directors has authorized a share repurchase program on Thursday, February 9th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Robert Half International Profile

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Robert Half International, Inc engages in the provision of staffing and risk consulting services. It operates through the following business segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. The Temporary and Consultant Staffing segment offers staffing in the accounting and finance, administrative and office, information technology, legal, advertising, marketing, and web design fields.