Robert Half Inc. (NYSE:RHI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Robert Half Inc. (NYSE:RHI) by 2.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,686 shares of the business services provider’s stock after selling 1,708 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Robert Half were worth $5,072,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC increased its stake in Robert Half by 55.0% during the fourth quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 149 shares during the last quarter. Larson Financial Group LLC bought a new stake in Robert Half during the 3rd quarter valued at $39,000. CoreFirst Bank & Trust lifted its holdings in Robert Half by 440.0% in the third quarter. CoreFirst Bank & Trust now owns 540 shares of the business services provider’s stock worth $40,000 after purchasing an additional 440 shares during the period. Orion Capital Management LLC acquired a new position in shares of Robert Half during the third quarter valued at approximately $43,000. Finally, GAMMA Investing LLC bought a new position in Robert Half during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Activity at Robert Half

In related news, EVP Robert W. Glass sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $80.46, for a total value of $603,450.00. Following the sale, the executive vice president now directly owns 186,062 shares in the company, valued at $14,970,548.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by insiders.

Robert Half Trading Down 1.8 %

Shares of Robert Half stock traded down $1.25 during trading hours on Friday, reaching $69.35. 2,130,676 shares of the company’s stock were exchanged, compared to its average volume of 1,060,371. The stock has a market cap of $7.29 billion, a P/E ratio of 17.92, a P/E/G ratio of 17.82 and a beta of 1.26. Robert Half Inc. has a fifty-two week low of $64.65 and a fifty-two week high of $88.39. The company has a 50 day moving average of $77.22 and a two-hundred day moving average of $79.44.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Robert Half had a return on equity of 25.73% and a net margin of 6.43%. The company’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. As a group, analysts expect that Robert Half Inc. will post 3.34 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.53 per share. This is an increase from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. This represents a $2.12 annualized dividend and a yield of 3.06%. Robert Half’s payout ratio is presently 54.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RHI shares. BMO Capital Markets reduced their target price on Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a report on Wednesday, January 31st. Robert W. Baird lowered their target price on Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Truist Financial upgraded Robert Half from a “sell” rating to a “hold” rating and set a $72.00 target price on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $68.14.

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.