Envestnet Asset Management Inc. Raises Holdings in Robert Half Inc. (NYSE:RHI)

Envestnet Asset Management Inc. increased its position in shares of Robert Half Inc. (NYSE:RHI) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,011 shares of the business services provider’s stock after purchasing an additional 872 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Robert Half worth $5,041,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Cibc World Markets Corp boosted its stake in Robert Half by 131.8% during the second quarter. Cibc World Markets Corp now owns 12,623 shares of the business services provider’s stock worth $950,000 after buying an additional 7,177 shares during the last quarter. abrdn plc boosted its stake in Robert Half by 14.1% during the second quarter. abrdn plc now owns 256,103 shares of the business services provider’s stock worth $19,264,000 after buying an additional 31,679 shares during the last quarter. Banque Pictet & Cie SA boosted its stake in Robert Half by 51.2% during the second quarter. Banque Pictet & Cie SA now owns 51,959 shares of the business services provider’s stock worth $3,908,000 after buying an additional 17,588 shares during the last quarter. IFP Advisors Inc boosted its stake in Robert Half by 52.8% during the second quarter. IFP Advisors Inc now owns 2,901 shares of the business services provider’s stock worth $186,000 after buying an additional 1,003 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Robert Half by 221.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,163 shares of the business services provider’s stock worth $87,000 after buying an additional 801 shares during the last quarter. 91.63% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Trading Up 1.3 %

RHI stock opened at $80.85 on Monday. The company has a market capitalization of $8.56 billion, a PE ratio of 18.33, a P/E/G ratio of 16.48 and a beta of 1.26. Robert Half Inc. has a 12-month low of $64.65 and a 12-month high of $89.78. The business’s fifty day moving average price is $74.94 and its 200 day moving average price is $73.98.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. Robert Half had a return on equity of 29.60% and a net margin of 7.09%. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.53 EPS. Research analysts predict that Robert Half Inc. will post 3.86 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.92 annualized dividend and a yield of 2.37%. Robert Half’s dividend payout ratio (DPR) is 43.54%.

Insiders Place Their Bets

In other Robert Half news, EVP Robert W. Glass sold 14,751 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $75.15, for a total transaction of $1,108,537.65. Following the sale, the executive vice president now owns 209,927 shares in the company, valued at approximately $15,776,014.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RHI shares. Bank of America lowered their price objective on Robert Half from $63.00 to $53.00 in a research note on Thursday, July 27th. Robert W. Baird decreased their price target on Robert Half from $88.00 to $82.00 in a research note on Wednesday, July 26th. William Blair reaffirmed a “market perform” rating on shares of Robert Half in a research note on Wednesday, July 26th. UBS Group assumed coverage on Robert Half in a research note on Tuesday, November 7th. They issued a “sell” rating and a $60.00 price target on the stock. Finally, StockNews.com raised Robert Half from a “hold” rating to a “buy” rating in a research note on Sunday, October 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Robert Half currently has an average rating of “Hold” and an average price target of $68.63.

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 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.