Grimes & Company Inc. Boosts Stock Position in Robert Half Inc. (NYSE:RHI)

Grimes & Company Inc. raised its position in shares of Robert Half Inc. (NYSE:RHI) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 277,775 shares of the business services provider’s stock after purchasing an additional 20,886 shares during the quarter. Grimes & Company Inc. owned 0.27% of Robert Half worth $15,153,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Trust Point Inc. grew its stake in Robert Half by 8.2% during the 1st quarter. Trust Point Inc. now owns 6,488 shares of the business services provider’s stock valued at $354,000 after purchasing an additional 494 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Robert Half by 4.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 76,378 shares of the business services provider’s stock valued at $4,166,000 after purchasing an additional 3,248 shares during the last quarter. Alpha Omega Wealth Management LLC grew its stake in Robert Half by 68.6% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 58,794 shares of the business services provider’s stock valued at $3,207,000 after purchasing an additional 23,913 shares during the last quarter. CX Institutional acquired a new position in shares of Robert Half in the 1st quarter valued at about $33,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Robert Half by 92.9% in the 1st quarter. GAMMA Investing LLC now owns 2,091 shares of the business services provider’s stock valued at $114,000 after buying an additional 1,007 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RHI. JPMorgan Chase & Co. decreased their price objective on Robert Half from $65.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Barclays decreased their price objective on Robert Half from $50.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Wall Street Zen raised Robert Half from a “sell” rating to a “hold” rating in a report on Friday, June 6th. The Goldman Sachs Group decreased their price objective on Robert Half from $46.00 to $40.00 and set a “sell” rating for the company in a report on Thursday, April 24th. Finally, BNP Paribas Exane cut Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.71.

Robert Half Stock Up 1.3%

NYSE:RHI opened at $43.19 on Tuesday. Robert Half Inc. has a 52 week low of $40.00 and a 52 week high of $78.41. The company has a market capitalization of $4.41 billion, a P/E ratio of 17.70 and a beta of 1.04. The stock’s fifty day moving average is $45.89 and its two-hundred day moving average is $57.18.

Robert Half (NYSE:RHI) last released its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.19). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. Sell-side analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.36 annualized dividend and a dividend yield of 5.46%. Robert Half’s dividend payout ratio is currently 118.00%.

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.