Guggenheim Capital LLC Acquires 242 Shares of Robert Half International Inc. (NYSE:RHI)

Posted by Defense World Staff on Mar 6th, 2023

Guggenheim Capital LLC increased its holdings in shares of Robert Half International Inc. (NYSE:RHI – Get Rating) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,507 shares of the business services provider’s stock after buying an additional 242 shares during the quarter. Guggenheim Capital LLC’s holdings in Robert Half International were worth $1,339,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Industrial Alliance Investment Management Inc. raised its position in Robert Half International by 29.2% in the second quarter. Industrial Alliance Investment Management Inc. now owns 3,138 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 709 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Robert Half International by 41.7% during the second quarter. Advisors Asset Management Inc. now owns 4,421 shares of the business services provider’s stock valued at $331,000 after buying an additional 1,302 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Robert Half International by 6.1% during the second quarter. Synovus Financial Corp now owns 5,604 shares of the business services provider’s stock valued at $421,000 after buying an additional 323 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Robert Half International by 19.7% during the third quarter. CIBC Asset Management Inc now owns 15,350 shares of the business services provider’s stock valued at $1,174,000 after buying an additional 2,531 shares during the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new position in shares of Robert Half International during the third quarter valued at approximately $72,000. 94.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RHI has been the topic of a number of recent analyst reports. BNP Paribas initiated coverage on Robert Half International in a report on Thursday, January 5th. They set an “underperform” rating and a $70.00 price target on the stock. StockNews.com upgraded Robert Half International from a “hold” rating to a “buy” rating in a report on Tuesday, February 7th. JPMorgan Chase & Co. dropped their price target on Robert Half International from $76.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, January 27th. Finally, BMO Capital Markets dropped their price target on Robert Half International from $79.00 to $78.00 and set a “market perform” rating on the stock in a report on Monday, January 30th. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.44.

Insider Activity

In other news, Director Dirk A. Kempthorne sold 3,456 shares of Robert Half International stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $80.54, for a total value of $278,346.24. Following the completion of the transaction, the director now directly owns 10,828 shares in the company, valued at $872,087.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by company insiders.

Robert Half International Price Performance

Shares of RHI opened at $81.32 on Monday. The firm has a market cap of $8.76 billion, a PE ratio of 13.51, a PEG ratio of 2.98 and a beta of 1.32. The stock’s fifty day moving average price is $79.61 and its two-hundred day moving average price is $77.81. Robert Half International Inc. has a 1 year low of $65.40 and a 1 year high of $122.29.

Robert Half International (NYSE:RHI – Get Rating) last issued its earnings results on Thursday, January 26th. The business services provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.01. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.76 billion. Robert Half International had a return on equity of 44.01% and a net margin of 9.09%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. Sell-side analysts anticipate that Robert Half International Inc. will post 4.81 earnings per share for the current fiscal year.

Robert Half International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, February 24th will be given a $0.48 dividend. The ex-dividend date of this dividend is Thursday, February 23rd. This is a boost from Robert Half International’s previous quarterly dividend of $0.43. This represents a $1.92 annualized dividend and a dividend yield of 2.36%. Robert Half International’s payout ratio is 31.89%.

Robert Half International declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 9th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Robert Half International

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Robert Half International, Inc engages in the provision of staffing and risk consulting services. It operates through the following business segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. The Temporary and Consultant Staffing segment offers staffing in the accounting and finance, administrative and office, information technology, legal, advertising, marketing, and web design fields.