ProShare Advisors LLC Acquires New Position in Robert Half Inc. $RHI

ProShare Advisors LLC bought a new position in shares of Robert Half Inc. (NYSE:RHI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 242,914 shares of the business services provider’s stock, valued at approximately $8,927,000.

A number of other hedge funds have also recently bought and sold shares of RHI. MGO One Seven LLC grew its stake in Robert Half by 2.0% in the 3rd quarter. MGO One Seven LLC now owns 13,924 shares of the business services provider’s stock worth $512,000 after acquiring an additional 275 shares during the period. Basecamp Wealth Advisors LLC lifted its stake in shares of Robert Half by 19.4% during the 1st 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 period. Altar Rock LLC lifted its stake in shares of Robert Half by 4.0% during the 2nd quarter. Altar Rock LLC now owns 9,554 shares of the business services provider’s stock worth $293,000 after purchasing an additional 365 shares during the period. Elevation Wealth Partners LLC lifted its stake in shares of Robert Half by 35.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,538 shares of the business services provider’s stock worth $57,000 after purchasing an additional 402 shares during the period. Finally, Unison Advisors LLC boosted its holdings in shares of Robert Half by 1.8% during the third quarter. Unison Advisors LLC now owns 28,378 shares of the business services provider’s stock worth $1,043,000 after purchasing an additional 507 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RHI. Weiss Ratings raised Robert Half from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 23rd. Robert W. Baird set a $53.00 target price on Robert Half in a research report on Friday, October 23rd. JPMorgan Chase & Co. increased their target price on Robert Half from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Jefferies Financial Group reissued an “underperform” rating and issued a $33.00 price target on shares of Robert Half in a research note on Friday, October 23rd. Finally, Barclays lifted their price target on Robert Half from $25.00 to $40.00 and gave the company an “equal weight” rating in a report on Monday, October 26th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.75.

Robert Half Stock Performance

Shares of RHI stock opened at $43.62 on Wednesday. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 37.00 and a beta of 0.76. Robert Half Inc. has a one year low of $21.83 and a one year high of $47.14. The company has a 50 day moving average price of $38.76 and a 200 day moving average price of $32.39.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Thursday, October 22nd. The business services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Robert Half had a net margin of 2.30% and a return on equity of 9.89%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $0.43 EPS. Robert Half’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities analysts forecast that Robert Half Inc. will post 1.29 EPS for the current fiscal year.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 25th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, November 25th. Robert Half’s dividend payout ratio (DPR) is 195.04%.

About Robert Half

Robert Half Inc (NYSE: RHI) is a global talent solutions and business consulting company. Through its Robert Half brand, the company provides temporary, project-based and permanent staffing services, connecting employers with professionals in accounting and finance, administrative and customer support, technology, legal, and marketing and creative fields.

Robert Half also operates Protiviti, a global consulting firm that helps organizations address internal audit, risk and compliance, technology, business performance, and digital transformation challenges.