Formula Growth Ltd. Invests $688,000 in Robert Half Inc. $RHI

Formula Growth Ltd. purchased a new stake in Robert Half Inc. (NYSE:RHI) in the second quarter, Holdings Channel reports. The firm purchased 22,400 shares of the business services provider’s stock, valued at approximately $688,000.

Several other institutional investors and hedge funds have also made changes to their positions in RHI. Basecamp Wealth Advisors LLC lifted its stake in Robert Half by 19.4% during the first quarter. Basecamp Wealth Advisors LLC now owns 2,164 shares of the business services provider’s stock worth $55,000 after purchasing an additional 351 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Robert Half by 3.5% during the third quarter. Quadrant Capital Group LLC now owns 12,069 shares of the business services provider’s stock valued at $410,000 after purchasing an additional 407 shares during the last quarter. IFP Advisors Inc increased its stake in Robert Half by 9.0% during the fourth quarter. IFP Advisors Inc now owns 6,845 shares of the business services provider’s stock valued at $186,000 after purchasing an additional 564 shares during the last quarter. Fifth Third Bancorp increased its stake in Robert Half by 94.3% during the fourth quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 664 shares during the last quarter. Finally, Inspire Advisors LLC raised its holdings in shares of Robert Half by 5.0% during the fourth quarter. Inspire Advisors LLC now owns 14,059 shares of the business services provider’s stock worth $382,000 after purchasing an additional 669 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RHI. Truist Financial raised their price target on shares of Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. BMO Capital Markets raised shares of Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price objective for the company in a research report on Monday, July 27th. Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. The Goldman Sachs Group raised their target price on shares of Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Friday, July 24th. Finally, Weiss Ratings upgraded Robert Half from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 18th. Three equities 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.75.

Robert Half Price Performance

Shares of NYSE RHI opened at $44.94 on Friday. The firm has a market capitalization of $4.60 billion, a PE ratio of 39.08 and a beta of 0.79. Robert Half Inc. has a 1-year low of $21.83 and a 1-year high of $46.70. The business’s fifty day moving average price is $38.20 and its two-hundred day moving average price is $30.57.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. The company 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 for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Equities research analysts expect that Robert Half Inc. will post 1.27 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, August 25th. Robert Half’s payout ratio is presently 205.22%.

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.