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

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Robert Half Inc. (NYSE:RHI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 630,248 shares of the business services provider’s stock, valued at approximately $19,349,000. Robert Half accounts for approximately 0.9% of Meiji Yasuda Asset Management Co Ltd.’s holdings, making the stock its 19th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Robert Half in the second quarter worth approximately $409,875,000. AQR Capital Management LLC lifted its stake in shares of Robert Half by 24.8% in the 3rd quarter. AQR Capital Management LLC now owns 7,738,454 shares of the business services provider’s stock valued at $262,953,000 after purchasing an additional 1,537,245 shares during the last quarter. Pzena Investment Management LLC purchased a new position in shares of Robert Half during the 2nd quarter worth $191,025,000. Capital World Investors grew its holdings in shares of Robert Half by 36.0% during the 4th 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 period. Finally, State Street Corp increased its position in shares of Robert Half by 2.7% during the 2nd 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. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Robert Half from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 18th. Truist Financial increased their target price on shares of Robert Half from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Zacks Research upgraded shares of Robert Half from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group upped their price objective on shares of Robert Half from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Friday, July 24th. Finally, BMO Capital Markets upgraded shares of Robert Half from a “market perform” rating to an “outperform” rating and set a $47.00 target price for the company in a report on Monday, July 27th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $34.75.

Robert Half Price Performance

NYSE RHI opened at $44.87 on Monday. The company has a market cap of $4.59 billion, a P/E ratio of 39.02 and a beta of 0.79. Robert Half Inc. has a 1-year low of $21.83 and a 1-year high of $45.83. The stock has a 50-day moving average of $37.17 and a two-hundred day moving average of $30.20.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Thursday, July 23rd. The business services provider reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Robert Half had a net margin of 2.17% and a return on equity of 9.18%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 earnings per share. On average, analysts anticipate that Robert Half Inc. will post 1.27 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 25th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, August 25th. Robert Half’s dividend payout ratio (DPR) is currently 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.