Korea Investment CORP reduced its position in Robert Half International (NYSE:RHI) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,269 shares of the business services provider’s stock after selling 831 shares during the quarter. Korea Investment CORP owned about 0.06% of Robert Half International worth $4,531,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners raised its position in shares of Robert Half International by 1.7% in the 1st quarter. Boston Partners now owns 5,014,821 shares of the business services provider’s stock worth $290,308,000 after buying an additional 84,989 shares during the period. Geode Capital Management LLC raised its position in shares of Robert Half International by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 1,934,185 shares of the business services provider’s stock worth $107,277,000 after buying an additional 42,558 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Robert Half International by 8.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,651,938 shares of the business services provider’s stock worth $91,749,000 after buying an additional 121,785 shares during the period. Schwab Charles Investment Management Inc. raised its position in Robert Half International by 43.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,235,077 shares of the business services provider’s stock valued at $71,499,000 after purchasing an additional 373,780 shares during the period. Finally, Mackay Shields LLC purchased a new position in Robert Half International in the first quarter valued at about $33,850,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Michael C. Buckley sold 10,000 shares of Robert Half International stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $63.00, for a total transaction of $630,000.00. Following the sale, the insider now directly owns 148,892 shares of the company’s stock, valued at $9,380,196. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman M Keith Waddell sold 100,000 shares of Robert Half International stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $60.67, for a total value of $6,067,000.00. Following the sale, the insider now directly owns 1,259,125 shares in the company, valued at $76,391,113.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,964 shares of company stock worth $13,052,701. Corporate insiders own 3.00% of the company’s stock.
Several research analysts have commented on RHI shares. Zacks Investment Research raised Robert Half International from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Thursday, April 26th. ValuEngine raised Robert Half International from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Robert W. Baird reissued a “buy” rating and issued a $67.00 price objective on shares of Robert Half International in a research report on Wednesday, January 31st. Barclays raised their price objective on Robert Half International from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Finally, SunTrust Banks reissued a “hold” rating and issued a $62.00 price objective on shares of Robert Half International in a research report on Wednesday, April 25th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $59.55.
Shares of Robert Half International opened at $63.62 on Friday, according to Marketbeat. Robert Half International has a 1 year low of $42.92 and a 1 year high of $65.36. The stock has a market cap of $7.86 billion, a PE ratio of 22.97 and a beta of 1.20.
Robert Half International (NYSE:RHI) last announced its earnings results on Tuesday, April 24th. The business services provider reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.06. Robert Half International had a return on equity of 30.88% and a net margin of 5.73%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. research analysts predict that Robert Half International will post 3.37 EPS for the current year.
Robert Half International announced that its Board of Directors has initiated a share buyback program on Tuesday, February 13th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, May 25th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, May 24th. Robert Half International’s payout ratio is 43.08%.
About Robert Half International
Robert Half International Inc provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary personnel for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative assistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract consultants and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking, systems integration and deployment, database design and administration, and security and business continuity.
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