California Public Employees Retirement System Cuts Stake in Robert Half Inc. (NYSE:RHI)

California Public Employees Retirement System lowered its holdings in shares of Robert Half Inc. (NYSE:RHI) by 4.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 202,802 shares of the business services provider’s stock after selling 9,043 shares during the period. California Public Employees Retirement System’s holdings in Robert Half were worth $17,830,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in RHI. Klingenstein Fields & Co. LP purchased a new position in shares of Robert Half in the fourth quarter worth about $236,000. abrdn plc lifted its position in Robert Half by 14.6% in the fourth quarter. abrdn plc now owns 318,522 shares of the business services provider’s stock valued at $28,004,000 after purchasing an additional 40,568 shares during the last quarter. Greenleaf Trust bought a new stake in Robert Half in the fourth quarter valued at approximately $246,000. Resonant Capital Advisors LLC purchased a new stake in shares of Robert Half during the fourth quarter valued at approximately $1,013,000. Finally, Twin Capital Management Inc. grew its holdings in shares of Robert Half by 38.7% in the fourth quarter. Twin Capital Management Inc. now owns 7,700 shares of the business services provider’s stock worth $677,000 after purchasing an additional 2,148 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Robert W. Glass sold 7,500 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total transaction of $603,450.00. Following the sale, the executive vice president now owns 186,062 shares in the company, valued at approximately $14,970,548.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 3.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RHI has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price target on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets lowered their price objective on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. Finally, Truist Financial raised Robert Half from a “sell” rating to a “hold” rating and set a $72.00 target price on the stock in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.14.

Robert Half Trading Up 1.0 %

Shares of RHI opened at $70.02 on Tuesday. Robert Half Inc. has a 1-year low of $64.65 and a 1-year high of $88.39. The firm’s 50-day moving average price is $76.78 and its 200-day moving average price is $79.37. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 17.51 and a beta of 1.26.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Robert Half had a return on equity of 22.36% and a net margin of 5.74%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm posted $1.14 EPS. The business’s revenue was down 14.0% on a year-over-year basis. On average, research analysts forecast that Robert Half Inc. will post 3.3 EPS for the current fiscal year.

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.03%. This is a boost from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. Robert Half’s dividend payout ratio is presently 63.47%.

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.