Robert Half (NYSE:RHI) Upgraded by Truist Financial to “Hold”

Truist Financial upgraded shares of Robert Half (NYSE:RHI) from a sell rating to a hold rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has $72.00 target price on the business services provider’s stock.

Separately, BMO Capital Markets lowered their price objective on Robert Half from $85.00 to $80.00 and set a market perform rating on the stock in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Robert Half currently has a consensus rating of Hold and an average target price of $68.57.

Robert Half Stock Up 1.8 %

Shares of NYSE RHI opened at $71.50 on Monday. The business’s 50 day moving average price is $78.01 and its 200 day moving average price is $79.59. The firm has a market cap of $7.52 billion, a P/E ratio of 18.48, a P/E/G ratio of 17.51 and a beta of 1.26. Robert Half has a 52 week low of $64.65 and a 52 week high of $88.39.

Robert Half (NYSE:RHI) last released its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. Robert Half had a return on equity of 25.73% and a net margin of 6.43%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. The business’s quarterly revenue was down 14.7% compared to the same quarter last year. As a group, research analysts expect that Robert Half will post 3.34 earnings per share for the current year.

Robert Half Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a dividend of $0.53 per share. This is a positive change from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.97%. Robert Half’s dividend payout ratio (DPR) is 54.78%.

Insider Activity

In other news, EVP Robert W. Glass sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $80.46, for a total transaction of $603,450.00. Following the transaction, the executive vice president now owns 186,062 shares in the company, valued at approximately $14,970,548.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors raised its stake in Robert Half by 6.7% in the 4th quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock valued at $1,281,429,000 after purchasing an additional 917,311 shares during the last quarter. Boston Partners raised its stake in 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. Charles Schwab Investment Management Inc. raised its stake in Robert Half by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,634,682 shares of the business services provider’s stock valued at $193,069,000 after purchasing an additional 57,130 shares during the last quarter. Fiduciary Management Inc. WI raised its stake in Robert Half by 3.4% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,944,057 shares of the business services provider’s stock valued at $170,921,000 after purchasing an additional 64,114 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Robert Half by 10.1% in the 3rd quarter. Northern Trust Corp now owns 1,792,144 shares of the business services provider’s stock valued at $131,328,000 after purchasing an additional 164,517 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

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.