Pictet Asset Management Holding SA Lowers Stock Position in Robert Half Inc. (NYSE:RHI)

Pictet Asset Management Holding SA reduced its position in Robert Half Inc. (NYSE:RHI) by 3.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,401 shares of the business services provider’s stock after selling 611 shares during the period. Pictet Asset Management Holding SA’s holdings in Robert Half were worth $1,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Robert Half by 613.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 313 shares in the last quarter. Signaturefd LLC raised its holdings in Robert Half by 121.3% in the fourth quarter. Signaturefd LLC now owns 436 shares of the business services provider’s stock valued at $31,000 after buying an additional 239 shares during the period. Eastern Bank acquired a new position in Robert Half during the fourth quarter valued at approximately $35,000. V Square Quantitative Management LLC increased its position in shares of Robert Half by 70.6% in the fourth quarter. V Square Quantitative Management LLC now owns 679 shares of the business services provider’s stock worth $48,000 after acquiring an additional 281 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Robert Half by 39.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RHI. BNP Paribas raised shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price target for the company in a research report on Monday, February 10th. Barclays upgraded Robert Half from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. StockNews.com downgraded shares of Robert Half from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.92.

Robert Half Trading Down 5.1 %

RHI stock opened at $48.34 on Friday. The company has a market capitalization of $4.94 billion, a P/E ratio of 19.81 and a beta of 1.22. The firm has a 50 day simple moving average of $57.73 and a 200-day simple moving average of $66.03. Robert Half Inc. has a twelve month low of $47.37 and a twelve month high of $78.41.

Robert Half (NYSE:RHI) last issued its earnings results on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. On average, research analysts predict that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.88%. This is an increase from Robert Half’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Tuesday, February 25th. Robert Half’s payout ratio is 96.72%.

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.