Strategy Asset Managers LLC Acquires New Position in Robert Half Inc. (NYSE:RHI)

Strategy Asset Managers LLC bought a new position in shares of Robert Half Inc. (NYSE:RHI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,680 shares of the business services provider’s stock, valued at approximately $619,000.

Other large investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. raised its position in shares of Robert Half by 105.4% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock valued at $289,818,000 after purchasing an additional 1,875,476 shares during the period. Capital World Investors raised its holdings in Robert Half by 6.7% during the fourth quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock valued at $1,281,429,000 after acquiring an additional 917,311 shares during the period. Boston Partners lifted its position in shares of Robert Half by 36.5% in the fourth quarter. Boston Partners now owns 3,270,365 shares of the business services provider’s stock valued at $287,265,000 after acquiring an additional 874,620 shares in the last quarter. Norges Bank bought a new position in shares of Robert Half in the fourth quarter worth about $73,311,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Robert Half by 900.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 834,447 shares of the business services provider’s stock worth $66,155,000 after purchasing an additional 751,049 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Transactions at Robert Half

In other Robert Half news, Director Dirk A. Kempthorne sold 1,300 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $63.09, for a total value of $82,017.00. Following the completion of the sale, the director now directly owns 13,342 shares in the company, valued at approximately $841,746.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RHI. JPMorgan Chase & Co. dropped their price target on Robert Half from $74.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. BNP Paribas upgraded shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday, June 11th. BMO Capital Markets cut their price objective on Robert Half from $72.00 to $64.00 and set a “market perform” rating for the company in a research report on Thursday, July 25th. Finally, Truist Financial decreased their target price on Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Robert Half presently has a consensus rating of “Hold” and a consensus target price of $67.86.

Robert Half Trading Up 0.1 %

Shares of NYSE RHI traded up $0.08 during midday trading on Wednesday, hitting $61.46. The company’s stock had a trading volume of 79,326 shares, compared to its average volume of 1,433,321. Robert Half Inc. has a 12-month low of $57.05 and a 12-month high of $88.39. The firm has a market cap of $6.45 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 6.04 and a beta of 1.25. The business’s 50 day moving average is $62.94 and its two-hundred day moving average is $69.03.

Robert Half (NYSE:RHI) last released its earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. On average, analysts predict that Robert Half Inc. will post 2.52 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be paid a $0.53 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.45%. Robert Half’s dividend payout ratio is currently 63.47%.

Robert Half 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.