Swedbank AB Lowers Stock Holdings in Robert Half Inc. (NYSE:RHI)

Swedbank AB reduced its position in shares of Robert Half Inc. (NYSE:RHI) by 23.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,491 shares of the business services provider’s stock after selling 94,533 shares during the period. Swedbank AB owned about 0.29% of Robert Half worth $19,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Qsemble Capital Management LP purchased a new position in Robert Half in the first quarter valued at $1,454,000. UniSuper Management Pty Ltd raised its stake in Robert Half by 671.3% in the first quarter. UniSuper Management Pty Ltd now owns 12,341 shares of the business services provider’s stock valued at $978,000 after buying an additional 10,741 shares in the last quarter. Franklin Resources Inc. raised its stake in Robert Half by 35.1% in the fourth quarter. Franklin Resources Inc. now owns 253,968 shares of the business services provider’s stock valued at $22,329,000 after buying an additional 66,049 shares in the last quarter. Twin Capital Management Inc. raised its stake in Robert Half by 38.7% in the fourth quarter. Twin Capital Management Inc. now owns 7,700 shares of the business services provider’s stock valued at $677,000 after buying an additional 2,148 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Robert Half by 34.0% in the fourth quarter. Mackenzie Financial Corp now owns 53,265 shares of the business services provider’s stock valued at $4,683,000 after buying an additional 13,503 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Stock Up 0.1 %

RHI traded up $0.07 on Friday, hitting $61.31. 663,240 shares of the company traded hands, compared to its average volume of 1,484,890. The company has a 50 day moving average of $63.32 and a 200-day moving average of $70.82. The stock has a market capitalization of $6.43 billion, a PE ratio of 18.30, a PEG ratio of 5.91 and a beta of 1.25. Robert Half Inc. has a 12-month low of $57.05 and a 12-month high of $88.39.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a net margin of 5.26% and a return on equity of 20.41%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 earnings per share. On average, research analysts anticipate that Robert Half Inc. will post 2.58 EPS for the current year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Friday, August 23rd. Robert Half’s dividend payout ratio is presently 63.47%.

Insider Buying and Selling at Robert Half

In other Robert Half news, Director Dirk A. Kempthorne sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $63.09, for a total transaction of $82,017.00. Following the completion of the sale, the director now directly owns 13,342 shares of the company’s stock, valued at approximately $841,746.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RHI shares. Barclays cut their price target on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. cut their price target on Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. StockNews.com cut Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Robert W. Baird reduced their target price on Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Truist Financial reduced their target price on Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.86.

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.