Vanguard Group Inc. Reduces Position in Robert Half Inc. (NYSE:RHI)

Vanguard Group Inc. lessened its stake in shares of Robert Half Inc. (NYSE:RHI) by 7.1% during the 1st quarter, Holdings Channel reports. The firm owned 10,863,749 shares of the business services provider’s stock after selling 836,429 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Robert Half worth $592,618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of RHI. CX Institutional purchased a new stake in Robert Half during the 1st quarter worth approximately $33,000. GeoWealth Management LLC purchased a new stake in shares of Robert Half in the 4th quarter valued at $35,000. Orion Capital Management LLC purchased a new stake in shares of Robert Half in the 4th quarter valued at $41,000. Manchester Capital Management LLC boosted its holdings in shares of Robert Half by 45.0% in the 1st quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 256 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Robert Half by 80.4% in the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider’s stock valued at $80,000 after acquiring an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Price Performance

RHI opened at $36.60 on Thursday. The firm has a fifty day moving average price of $40.49 and a 200 day moving average price of $48.24. Robert Half Inc. has a 1 year low of $33.18 and a 1 year high of $78.41. The stock has a market cap of $3.72 billion, a P/E ratio of 20.92 and a beta of 1.02.

Robert Half (NYSE:RHI) last posted its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the business posted $0.66 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. Equities analysts expect that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Monday, August 25th. Robert Half’s payout ratio is currently 134.86%.

Analyst Ratings Changes

Several research firms have recently commented on RHI. Wall Street Zen raised shares of Robert Half from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Robert Half from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, July 24th. Barclays dropped their price objective on shares of Robert Half from $50.00 to $45.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Truist Financial set a $55.00 price objective on shares of Robert Half and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group dropped their price objective on shares of Robert Half from $46.00 to $40.00 and set a “sell” rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.83.

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.