Meiji Yasuda Asset Management Co Ltd. Invests $19.35 Million in Robert Half Inc. $RHI

Meiji Yasuda Asset Management Co Ltd. bought a new stake in Robert Half Inc. (NYSE:RHI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 630,248 shares of the business services provider’s stock, valued at approximately $19,349,000. Robert Half comprises about 0.9% of Meiji Yasuda Asset Management Co Ltd.’s holdings, making the stock its 19th largest position. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.62% of Robert Half as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Robert Half during the 2nd quarter worth approximately $409,875,000. AQR Capital Management LLC increased its stake in shares of Robert Half by 24.8% in the third quarter. AQR Capital Management LLC now owns 7,738,454 shares of the business services provider’s stock worth $262,953,000 after acquiring an additional 1,537,245 shares during the period. Pzena Investment Management LLC acquired a new stake in shares of Robert Half in the second quarter worth $191,025,000. Capital World Investors raised its holdings in shares of Robert Half by 36.0% during the fourth quarter. Capital World Investors now owns 5,902,279 shares of the business services provider’s stock worth $160,306,000 after purchasing an additional 1,561,146 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Robert Half by 2.7% during the second quarter. State Street Corp now owns 4,873,440 shares of the business services provider’s stock worth $200,055,000 after purchasing an additional 127,322 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RHI. Zacks Research raised shares of Robert Half from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. BMO Capital Markets raised shares of Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 price target on the stock in a report on Monday, July 27th. Weiss Ratings raised shares of Robert Half from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 18th. The Goldman Sachs Group raised their price objective on Robert Half from $26.00 to $29.00 and gave the company a “sell” rating in a report on Friday, July 24th. Finally, Robert W. Baird set a $47.00 price objective on shares of Robert Half in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.75.

Robert Half Stock Performance

Shares of Robert Half stock opened at $44.87 on Monday. Robert Half Inc. has a one year low of $21.83 and a one year high of $45.83. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 39.02 and a beta of 0.79. The business’s 50 day moving average price is $37.17 and its 200 day moving average price is $30.20.

Robert Half (NYSE:RHI) last released its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.32 billion. Robert Half had a return on equity of 9.18% and a net margin of 2.17%.The firm’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. On average, analysts predict that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Announces Dividend

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

About Robert Half

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.