Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Robert Half Inc. $RHI

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Robert Half Inc. (NYSE:RHI) in the second quarter, Holdings Channel reports. The fund acquired 582,275 shares of the business services provider’s stock, valued at approximately $17,876,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Robert Half during the second quarter worth approximately $19,349,000. Kiltearn Partners LLP acquired a new stake in Robert Half during the second quarter worth approximately $9,335,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Robert Half during the second quarter worth approximately $39,000. Quantbot Technologies LP bought a new position in Robert Half during the 2nd quarter worth $39,000. Finally, Evolve Private Wealth LLC bought a new position in Robert Half during the 2nd quarter worth $374,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RHI shares. Zacks Research raised Robert Half from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. BMO Capital Markets raised Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 target price on the stock in a report on Monday, July 27th. Truist Financial raised their price target on Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Robert W. Baird set a $47.00 price target on Robert Half in a research note on Monday, July 27th. Finally, The Goldman Sachs Group upped their price objective on shares of Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.75.

Robert Half Price Performance

Shares of NYSE:RHI opened at $44.92 on Wednesday. Robert Half Inc. has a 1 year low of $21.83 and a 1 year high of $46.70. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 39.06 and a beta of 0.79. The company’s 50 day simple moving average is $37.68 and its 200 day simple moving average is $30.39.

Robert Half (NYSE:RHI) last released its earnings results on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts anticipate that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Dividend Announcement

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