Cresset Asset Management LLC Makes New $986,000 Investment in Robert Half Inc. $RHI

Cresset Asset Management LLC bought a new stake in shares of Robert Half Inc. (NYSE:RHI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,004 shares of the business services provider’s stock, valued at approximately $986,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Robert Half by 190.5% during the second quarter. AQR Capital Management LLC now owns 6,201,209 shares of the business services provider’s stock worth $254,560,000 after purchasing an additional 4,066,328 shares in the last quarter. State Street Corp increased its position in shares of Robert Half by 2.7% in the second quarter. State Street Corp now owns 4,873,440 shares of the business services provider’s stock valued at $200,055,000 after buying an additional 127,322 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Robert Half by 2.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,702,722 shares of the business services provider’s stock worth $151,997,000 after buying an additional 84,545 shares during the period. Pzena Investment Management LLC raised its stake in shares of Robert Half by 33.8% during the 3rd quarter. Pzena Investment Management LLC now owns 3,179,968 shares of the business services provider’s stock worth $108,055,000 after buying an additional 802,691 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its position in shares of Robert Half by 26.0% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,733,883 shares of the business services provider’s stock valued at $58,917,000 after buying an additional 357,814 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays dropped their price target on shares of Robert Half from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. BMO Capital Markets decreased their price objective on shares of Robert Half from $35.00 to $32.00 and set a “market perform” rating on the stock in a report on Tuesday, February 17th. Robert W. Baird set a $50.00 target price on shares of Robert Half in a research report on Friday, January 30th. Truist Financial boosted their target price on shares of Robert Half from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Robert Half in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Robert Half has an average rating of “Reduce” and an average target price of $31.75.

Robert Half Stock Performance

NYSE RHI opened at $23.28 on Wednesday. The business has a fifty day moving average price of $27.28 and a 200 day moving average price of $29.45. The company has a market cap of $2.35 billion, a P/E ratio of 17.50 and a beta of 0.90. Robert Half Inc. has a one year low of $22.32 and a one year high of $55.24.

Robert Half (NYSE:RHI) last announced its earnings results on Thursday, January 29th. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. Robert Half had a net margin of 2.47% and a return on equity of 10.26%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Wednesday, February 25th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, February 25th. This represents a $2.36 dividend on an annualized basis and a yield of 10.1%. Robert Half’s payout ratio is presently 177.44%.

Robert Half 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.