Hutchinson Capital Management CA Lowers Stake in Robert Half Inc. (NYSE:RHI)

Hutchinson Capital Management CA trimmed its stake in Robert Half Inc. (NYSE:RHI) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,714 shares of the business services provider’s stock after selling 2,967 shares during the period. Robert Half accounts for 2.4% of Hutchinson Capital Management CA’s portfolio, making the stock its 18th largest position. Hutchinson Capital Management CA owned 0.18% of Robert Half worth $11,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RHI. Mawer Investment Management Ltd. lifted its holdings 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 last quarter. Capital World Investors increased its holdings in shares of 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 in the last quarter. Boston Partners raised its position in shares of Robert Half by 36.5% in the 4th quarter. Boston Partners now owns 3,270,365 shares of the business services provider’s stock valued at $287,265,000 after purchasing an additional 874,620 shares during the last quarter. Norges Bank acquired a new stake in Robert Half in the 4th quarter worth approximately $73,311,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Robert Half by 900.6% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Buying and Selling

In other Robert Half news, Director Dirk A. Kempthorne sold 1,300 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $63.09, for a total transaction of $82,017.00. Following the transaction, the director now directly owns 13,342 shares of the company’s stock, valued at $841,746.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is owned by insiders.

Robert Half Price Performance

NYSE:RHI opened at $61.75 on Tuesday. The company has a 50 day moving average price of $62.77 and a 200-day moving average price of $68.50. Robert Half Inc. has a 1-year low of $57.05 and a 1-year high of $88.39. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 5.85 and a beta of 1.23.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate 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 net margin of 5.26% and a return on equity of 20.41%. Robert Half’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, sell-side analysts anticipate that Robert Half Inc. will post 2.52 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors 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 3.43%. Robert Half’s dividend payout ratio is currently 63.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RHI shares. Truist Financial lowered their price objective on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, July 26th. BNP Paribas upgraded 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. Barclays decreased their target price on Robert Half from $70.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, July 26th. JPMorgan Chase & Co. cut their price target on shares of Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Finally, StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $67.86.

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.