Federated Hermes Inc. Sells 35,522 Shares of Robert Half Inc. (NYSE:RHI)

Federated Hermes Inc. trimmed its holdings in shares of Robert Half Inc. (NYSE:RHI) by 92.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,892 shares of the business services provider’s stock after selling 35,522 shares during the quarter. Federated Hermes Inc.’s holdings in Robert Half were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Venturi Wealth Management LLC raised its position in Robert Half by 55.0% in the 4th quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider’s stock worth $37,000 after purchasing an additional 149 shares during the period. Larson Financial Group LLC purchased a new stake in Robert Half in the 3rd quarter worth about $39,000. CoreFirst Bank & Trust raised its position in Robert Half by 440.0% in the 3rd 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 purchased a new stake in Robert Half in the 3rd quarter worth about $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Robert Half by 72.2% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 620 shares of the business services provider’s stock worth $55,000 after purchasing an additional 260 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Stock Up 0.8 %

Shares of RHI stock opened at $70.16 on Monday. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 3.30 and a beta of 1.30. The company’s 50 day moving average is $75.95 and its 200 day moving average is $79.19. Robert Half Inc. has a 52-week low of $64.65 and a 52-week high of $88.39.

Robert Half (NYSE:RHI) last issued its quarterly earnings data 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 company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. Robert Half had a net margin of 5.74% and a return on equity of 22.36%. Robert Half’s revenue was down 14.0% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. Analysts anticipate that Robert Half Inc. will post 2.98 EPS for the current fiscal year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, May 23rd. Robert Half’s dividend payout ratio is currently 63.47%.

Insiders Place Their Bets

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of Robert Half stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the transaction, the executive vice president now directly owns 186,062 shares of the company’s stock, valued at $14,970,548.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

RHI has been the topic of a number of recent analyst reports. BMO Capital Markets reduced their price objective on shares of 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. Robert W. Baird reduced their target price on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Truist Financial raised shares of Robert Half from a “sell” rating to a “hold” rating and set a $72.00 target price on the stock in a research report on Monday, April 22nd. Finally, StockNews.com lowered shares of Robert Half from a “buy” rating to a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Robert Half presently has an average rating of “Hold” and an average target price of $68.14.

About Robert Half

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.