Entropy Technologies LP Lowers Stock Position in Robert Half Inc. (NYSE:RHI)

Entropy Technologies LP reduced its holdings in shares of Robert Half Inc. (NYSE:RHI) by 21.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,523 shares of the business services provider’s stock after selling 10,016 shares during the period. Entropy Technologies LP’s holdings in Robert Half were worth $2,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RHI. Sei Investments Co. increased its position in shares of Robert Half by 134.3% in the 1st quarter. Sei Investments Co. now owns 47,692 shares of the business services provider’s stock valued at $3,781,000 after purchasing an additional 27,334 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of Robert Half by 98.6% during the first quarter. QRG Capital Management Inc. now owns 9,965 shares of the business services provider’s stock worth $790,000 after buying an additional 4,947 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Robert Half by 62.4% during the first quarter. Russell Investments Group Ltd. now owns 338,420 shares of the business services provider’s stock worth $26,823,000 after buying an additional 130,009 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in Robert Half in the 1st quarter valued at about $226,000. Finally, State Board of Administration of Florida Retirement System raised its stake in Robert Half by 2.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 126,791 shares of the business services provider’s stock valued at $10,216,000 after acquiring an additional 3,283 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Stock Up 0.2 %

Shares of RHI stock opened at $76.40 on Wednesday. The stock has a market cap of $7.89 billion, a P/E ratio of 27.88 and a beta of 1.23. Robert Half Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $88.39. The business has a fifty day simple moving average of $67.17 and a 200-day simple moving average of $65.57.

Robert Half (NYSE:RHI) last announced its earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. On average, sell-side analysts anticipate that Robert Half Inc. will post 2.46 earnings per share for the current year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, November 25th. Robert Half’s payout ratio is currently 77.37%.

Analysts Set New Price Targets

Several brokerages have weighed in on RHI. JPMorgan Chase & Co. lowered their target price on Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their price objective on shares of Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a research note on Thursday, July 25th. Barclays reduced their target price on shares of Robert Half from $70.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, July 26th. Finally, Truist Financial dropped their price target on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Robert Half presently has an average rating of “Hold” and an average price target of $69.00.

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.