Robert Half Inc. (NYSE:RHI) Shares Bought by Rhumbline Advisers

Posted by Defense World Staff on Aug 30th, 2023

Rhumbline Advisers increased its holdings in shares of Robert Half Inc. (NYSE:RHI – Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 272,465 shares of the business services provider’s stock after acquiring an additional 4,104 shares during the period. Rhumbline Advisers owned approximately 0.25% of Robert Half worth $21,953,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Robert Half by 1.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,604 shares of the business services provider’s stock valued at $774,000 after acquiring an additional 137 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Robert Half by 2.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 7,342 shares of the business services provider’s stock valued at $561,000 after acquiring an additional 149 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Robert Half by 4.0% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,927 shares of the business services provider’s stock valued at $300,000 after buying an additional 151 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in Robert Half by 7.3% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 2,429 shares of the business services provider’s stock valued at $277,000 after buying an additional 166 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in Robert Half by 6.6% in the 4th quarter. Empirical Finance LLC now owns 2,920 shares of the business services provider’s stock valued at $216,000 after buying an additional 182 shares in the last quarter. 91.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Dirk A. Kempthorne sold 2,050 shares of Robert Half stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $74.15, for a total value of $152,007.50. Following the completion of the sale, the director now owns 12,934 shares in the company, valued at approximately $959,056.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Robert Half Stock Performance

RHI stock opened at $75.40 on Wednesday. The firm has a market cap of $8.07 billion, a PE ratio of 14.96 and a beta of 1.32. The firm’s 50 day moving average price is $76.30 and its 200-day moving average price is $74.92. Robert Half Inc. has a one year low of $64.65 and a one year high of $89.78.

Robert Half (NYSE:RHI – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The business services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.13). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Robert Half had a net margin of 7.84% and a return on equity of 34.51%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. Equities research analysts predict that Robert Half Inc. will post 3.72 EPS for the current fiscal year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, August 24th. Robert Half’s payout ratio is presently 38.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RHI. Robert W. Baird decreased their price target on shares of Robert Half from $88.00 to $82.00 in a research note on Wednesday, July 26th. Credit Suisse Group decreased their price target on shares of Robert Half from $63.00 to $57.00 in a research note on Wednesday, July 26th. StockNews.com began coverage on shares of Robert Half in a research note on Wednesday, August 23rd. They issued a “hold” rating on the stock. Bank of America decreased their price target on shares of Robert Half from $63.00 to $53.00 in a research note on Thursday, July 27th. Finally, William Blair reissued a “market perform” rating on shares of Robert Half in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $71.22.

Read Our Latest Stock Report on RHI

Robert Half Company Profile

(Free Report)

Robert Half Inc provides talent solutions and business consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti. 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.