Brandywine Global Investment Management LLC Reduces Position in Robert Half International (RHI)

Brandywine Global Investment Management LLC reduced its holdings in shares of Robert Half International (NYSE:RHI) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,770 shares of the business services provider’s stock after selling 14,593 shares during the quarter. Brandywine Global Investment Management LLC owned 0.09% of Robert Half International worth $6,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Capital Fund Management S.A. increased its position in Robert Half International by 0.3% during the fourth quarter. Capital Fund Management S.A. now owns 345,296 shares of the business services provider’s stock valued at $19,178,000 after acquiring an additional 986 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Robert Half International by 12.9% during the third quarter. Hillsdale Investment Management Inc. now owns 8,760 shares of the business services provider’s stock valued at $441,000 after acquiring an additional 1,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Robert Half International by 22.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,703 shares of the business services provider’s stock valued at $287,000 after acquiring an additional 1,027 shares during the last quarter. Comerica Bank increased its position in Robert Half International by 3.5% during the third quarter. Comerica Bank now owns 31,871 shares of the business services provider’s stock valued at $1,625,000 after acquiring an additional 1,063 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in Robert Half International by 11.8% during the third quarter. Neuberger Berman Group LLC now owns 10,128 shares of the business services provider’s stock valued at $510,000 after acquiring an additional 1,070 shares during the last quarter. 85.49% of the stock is currently owned by hedge funds and other institutional investors.

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RHI traded down $2.08 during midday trading on Friday, reaching $57.15. The company had a trading volume of 987,895 shares, compared to its average volume of 1,149,775. The stock has a market cap of $7,101.57, a price-to-earnings ratio of 21.98 and a beta of 1.18. Robert Half International has a 1 year low of $42.92 and a 1 year high of $60.59.

Robert Half International (NYSE:RHI) last issued its quarterly earnings results on Tuesday, January 30th. The business services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Robert Half International had a return on equity of 29.31% and a net margin of 5.52%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business posted $0.61 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. equities research analysts forecast that Robert Half International will post 3.23 EPS for the current year.

Robert Half International announced that its board has initiated a stock repurchase program on Tuesday, February 13th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Friday, February 23rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.12 annualized dividend and a dividend yield of 1.96%. This is a boost from Robert Half International’s previous quarterly dividend of $0.24. Robert Half International’s dividend payout ratio (DPR) is currently 43.08%.

In related news, insider Michael C. Buckley sold 10,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $57.84, for a total transaction of $578,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harold M. Messmer, Jr. sold 100,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $58.06, for a total value of $5,806,000.00. The disclosure for this sale can be found here. Insiders have sold 457,247 shares of company stock valued at $25,936,679 in the last quarter. 3.40% of the stock is currently owned by company insiders.

RHI has been the subject of a number of research reports. Royal Bank of Canada reiterated a “hold” rating and set a $57.00 price objective on shares of Robert Half International in a research report on Wednesday, December 27th. Deutsche Bank upped their price objective on Robert Half International from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 28th. SunTrust Banks upped their price objective on Robert Half International to $58.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. BMO Capital Markets upped their price objective on Robert Half International from $53.00 to $58.00 and gave the company a “market perform” rating in a research report on Friday, December 29th. Finally, Zacks Investment Research cut Robert Half International from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $58.20.

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Robert Half International Company Profile

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.

Institutional Ownership by Quarter for Robert Half International (NYSE:RHI)

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