Charles Schwab Investment Management Inc. Buys 159,750 Shares of Robert Half Inc. (NYSE:RHI)

Charles Schwab Investment Management Inc. raised its stake in Robert Half Inc. (NYSE:RHI) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,285,008 shares of the business services provider’s stock after buying an additional 159,750 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Robert Half were worth $221,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. grew its position in Robert Half by 489.4% during the 2nd quarter. Blue Trust Inc. now owns 389 shares of the business services provider’s stock worth $25,000 after acquiring an additional 323 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Robert Half in the third quarter valued at approximately $27,000. Reston Wealth Management LLC bought a new position in Robert Half in the 3rd quarter valued at approximately $34,000. Versant Capital Management Inc acquired a new stake in Robert Half during the 2nd quarter worth approximately $35,000. Finally, Family Firm Inc. bought a new stake in Robert Half during the 2nd quarter worth approximately $45,000. Institutional investors own 92.41% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price target on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $69.00.

Robert Half Stock Performance

Shares of NYSE RHI opened at $74.64 on Friday. The company’s 50 day moving average price is $69.08 and its 200-day moving average price is $65.86. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $88.39. The company has a market capitalization of $7.71 billion, a P/E ratio of 27.24 and a beta of 1.23.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Robert Half had a return on equity of 18.78% and a net margin of 4.84%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the business posted $0.90 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. Analysts forecast that Robert Half Inc. will post 2.45 earnings per share for the current year.

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be issued a $0.53 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.12 dividend on an annualized basis and a yield of 2.84%. Robert Half’s payout ratio is currently 77.37%.

Robert Half Company Profile

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti segments. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.