Norges Bank Invests $33.83 Million in Robert Half Inc. $RHI

Norges Bank purchased a new stake in shares of Robert Half Inc. (NYSE:RHI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,245,653 shares of the business services provider’s stock, valued at approximately $33,832,000. Norges Bank owned approximately 1.23% of Robert Half as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of RHI. Larson Financial Group LLC grew its stake in Robert Half by 321.0% in the fourth quarter. Larson Financial Group LLC now owns 1,002 shares of the business services provider’s stock worth $27,000 after purchasing an additional 764 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Robert Half during the 2nd quarter valued at $34,000. Fifth Third Bancorp lifted its holdings in shares of Robert Half by 94.3% in the 4th quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider’s stock worth $37,000 after buying an additional 664 shares during the period. Danske Bank A S purchased a new stake in shares of Robert Half in the 3rd quarter worth $37,000. Finally, Hantz Financial Services Inc. grew its position in shares of Robert Half by 952.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,105 shares of the business services provider’s stock worth $38,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Wall Street Analysts Forecast Growth

RHI has been the topic of several research reports. William Blair upgraded Robert Half from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 21st. Zacks Research lowered Robert Half from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. BMO Capital Markets cut their price target on Robert Half from $35.00 to $32.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 17th. Weiss Ratings lowered Robert Half from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. Finally, Barclays cut their price target on Robert Half from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $31.75.

Robert Half Stock Down 0.9%

Shares of RHI opened at $30.99 on Tuesday. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 23.84 and a beta of 0.84. Robert Half Inc. has a twelve month low of $21.83 and a twelve month high of $45.67. The company has a 50 day moving average of $26.86 and a two-hundred day moving average of $26.82.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Thursday, April 23rd. The business services provider reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. Robert Half had a return on equity of 10.14% and a net margin of 2.43%.The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company earned $0.17 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Robert Half Inc. will post 1.29 EPS for the current year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 22nd will be paid a $0.59 dividend. The ex-dividend date is Friday, May 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 7.6%. Robert Half’s dividend payout ratio (DPR) is 181.54%.

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.