Arizona State Retirement System Sells 582 Shares of Robert Half Inc. (NYSE:RHI)

Arizona State Retirement System cut its stake in Robert Half Inc. (NYSE:RHI) by 1.9% in the first quarter, HoldingsChannel reports. The fund owned 29,617 shares of the business services provider’s stock after selling 582 shares during the period. Arizona State Retirement System’s holdings in Robert Half were worth $1,616,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in shares of Robert Half by 11.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,155 shares of the business services provider’s stock worth $152,000 after buying an additional 218 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Robert Half by 39.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the business services provider’s stock worth $55,000 after buying an additional 220 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Robert Half by 121.3% during the 4th quarter. Signaturefd LLC now owns 436 shares of the business services provider’s stock worth $31,000 after buying an additional 239 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Robert Half by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 44,483 shares of the business services provider’s stock worth $3,134,000 after buying an additional 280 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Robert Half by 613.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider’s stock worth $25,000 after buying an additional 313 shares during the last quarter. 92.41% of the stock is owned by institutional investors.

Robert Half Stock Down 0.7%

RHI stock opened at $41.84 on Friday. Robert Half Inc. has a 12 month low of $39.61 and a 12 month high of $78.41. The firm has a market cap of $4.27 billion, a P/E ratio of 20.92 and a beta of 1.00. The company’s 50-day moving average price is $43.72 and its two-hundred day moving average price is $52.21.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.19). The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.41 billion. Robert Half had a net margin of 3.62% and a return on equity of 14.54%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. Equities analysts predict that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 5.64%. The ex-dividend date was Friday, May 23rd. Robert Half’s dividend payout ratio (DPR) is presently 118.00%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Robert Half from $46.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, April 24th. BNP Paribas Exane cut shares of Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Friday, May 2nd. BNP Paribas cut shares of Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research note on Friday, May 2nd. Barclays dropped their price objective on shares of Robert Half from $50.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Truist Financial set a $55.00 price objective on shares of Robert Half and gave the stock a “buy” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.71.

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.