On May 25, 2023, it was reported that O Shaughnessy Asset Management LLC had sold a whopping 52.0% of its shares in Robert Half International Inc. (NYSE:RHI) in the fourth quarter. According to their Securities and Exchange Commission (SEC) filing, the fund now owns only 37,914 shares of the business services provider’s stock after having sold 41,125 shares during the said quarter. The value of O Shaughnessy Asset Management LLC’s holdings in Robert Half International comes in at $2,799,000 currently.
In spite of this turn of events, it came as no surprise when Robert Half International recently released its declaration on quarterly dividends as they intend to pay shareholders come June 15th. The company stated that investors with record on Thursday, May 25th will be paid a dividend worth $0.48 per share on an annual basis which comes up to $1.92 per share and a yield of 2.84%. It is significant to note that anyone who buys or sells stocks should take note of ex-dividend date slated for Wednesday, May 24th.
In other news related to Robert Half International Inc., Executive Vice President Robert W. Glass reportedly sold off about 12,500 shares of the company’s stock worth roughly $1 million on Friday, March 3rd earlier this year. These shares were sold at an average price of $80.94 while Glass still holds a total number of around 217,049 shares with an estimated current value at approximately $17 million.
It should also be noted that company insiders own about 2.70% of the whole stock altogether according to filings with the Securities & Exchange Commission.
All these reports may lead investors to important revelations especially considering how selling such a large percentage might have impacted future prospects of RIH and whether lowering holdings by over half would signify pessimism about the company’s capability to perform or not. Nevertheless, the quarterly declaration of dividends provides a sense of optimism moving forward for those who are intent on making investments in Robert Half International Inc.
Robert Half International: A Global Leader in Business Services with Average Stock Performance and Decent Dividend Yields
Robert Half International – A Company Overview
Robert Half International is a prominent business services provider, known globally for offering staffing and consulting services in the field of accounting, finance, technology, creative and administrative operations. The company has been around since 1948, with its headquarters located in California.
Recently a number of hedge funds have made changes to their holdings in Robert Half International. CoreCap Advisors LLC bought new shares worth $93,000 earlier this year. Advisor Group Holdings Inc., meanwhile raised its stake by 1.8% in Robert Half International during Q4 of 2022. Aigen Investment Management LP’s stake grew by over 200%, while Laffer Tengler Investments stepped into Robert Half International with shares worth approximately $202,000 late last year. Isthmus Partners LLC also upped its holdings in the firm by almost 7% during Q4 of 2022.
Some equities analysts have aired their views regarding RHI stocks; StockNews.com recently issued a buy rating for the company while JPMorgan Chase & Co downgraded the stock from $76 to $75 and ranked it as neutral.
BMO Capital Markets too decreased target price on Robert Half International from $79 to $78 but maintained “Market Perform” status for the stock. According to Bloomberg.com analysis and reports, four research analysts have given it a sell rating while three have given it hold ratings and one analyst has recommended buying the stock at present levels.
Robert Half recently issued dividends which will be paid on June 15th 2023 to shareholders who had invested in the stock prior to May 25th this year. The dividend payout amount is currently at $0.48 per share indicating an annualized dividend yield of around 2.84%.
As far as stock performance goes, RHI’s latest prices were recorded at $67.63 on Thursday May25th when writing this article . The annual price range for the past one year is easily covered with a low of $65.40 and a high of $92.27. The firm’s market capitalization currently stands at 7.29 billion while its P/E ratio is standing at 11.99, while its PEG ratio averages around 2.41, indicating that, business operations at RHI are relatively stable.
Robert Half International released its Q1 earnings results earlier this year . Robert Half International successfully beat consensus estimates by reporting$1.14 earnings per share as compared to $1.13 expected per the same consensus prior quarter reportings.The company this time reported revenue of around $1.72 billion down from an expected $1.71 billion.Research analysts indicate that in Q4′’2023 it may post EPS figures worth $4.44.
In conclusion, Robert Half International has emerged as one of the reputable companies offering staffing and consulting services covering various aspects such as accounting, finance, technology, creative and administrative operations on a global scale. The stocks performance for stockholders seems average but the stock offers good dividends making RHI a potentially worthy investment option in the coming times for investors looking for stable yields along with decent growth opportunities in stocks given its predominant footprint in the market sector it delves into.
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