Everence Capital Management Inc. Reduces Stock Position in Robert Half Inc. (NYSE:RHI)

Everence Capital Management Inc. reduced its stake in Robert Half Inc. (NYSE:RHI) by 40.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,690 shares of the business services provider’s stock after selling 5,180 shares during the period. Everence Capital Management Inc.’s holdings in Robert Half were worth $542,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in Robert Half during the 3rd quarter valued at about $27,000. Private Trust Co. NA grew its stake in Robert Half by 79.7% during the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Robert Half during the 3rd quarter worth approximately $34,000. GAMMA Investing LLC lifted its stake in Robert Half by 35.6% in the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider’s stock worth $46,000 after purchasing an additional 179 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Robert Half by 310.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 796 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 602 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Robert Half news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the transaction, the director now owns 12,310 shares in the company, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

RHI has been the topic of several research analyst reports. BNP Paribas cut shares of Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price target on the stock. in a report on Monday, December 16th. Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $90.00 in a report on Friday, December 13th. Barclays raised Robert Half from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $60.00 to $80.00 in a report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.33.

Robert Half Price Performance

NYSE:RHI opened at $69.95 on Friday. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 25.53 and a beta of 1.24. Robert Half Inc. has a 1-year low of $57.05 and a 1-year high of $84.16. The business has a 50 day moving average of $72.86 and a 200 day moving average of $67.18.

Robert Half (NYSE:RHI) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Robert Half Inc. will post 2.45 EPS for the current year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.12 annualized dividend and a yield of 3.03%. Robert Half’s payout ratio is currently 77.37%.

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.