M&T Bank Corp Sells 2,936 Shares of Robert Half Inc. (NYSE:RHI)

M&T Bank Corp reduced its holdings in Robert Half Inc. (NYSE:RHI) by 40.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,280 shares of the business services provider’s stock after selling 2,936 shares during the quarter. M&T Bank Corp’s holdings in Robert Half were worth $234,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RHI. Mawer Investment Management Ltd. boosted its position in shares of Robert Half by 72.6% during the fourth quarter. Mawer Investment Management Ltd. now owns 8,079,597 shares of the business services provider’s stock worth $569,288,000 after buying an additional 3,398,257 shares during the period. Norges Bank acquired a new position in Robert Half during the fourth quarter valued at approximately $60,257,000. Balyasny Asset Management L.P. boosted its position in Robert Half by 5,172.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 693,394 shares of the business services provider’s stock valued at $48,857,000 after purchasing an additional 680,242 shares during the last quarter. Wellington Management Group LLP boosted its position in Robert Half by 293.3% during the fourth quarter. Wellington Management Group LLP now owns 831,359 shares of the business services provider’s stock valued at $58,578,000 after purchasing an additional 619,982 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in Robert Half by 124.2% during the fourth quarter. Schroder Investment Management Group now owns 724,419 shares of the business services provider’s stock valued at $50,956,000 after purchasing an additional 401,369 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors.

Robert Half Price Performance

Robert Half stock opened at $41.84 on Friday. The stock’s fifty day moving average price is $43.72 and its two-hundred day moving average price is $52.21. Robert Half Inc. has a one year low of $39.61 and a one year high of $78.41. The firm has a market cap of $4.27 billion, a PE ratio of 20.92 and a beta of 1.00.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.19). Robert Half had a return on equity of 14.54% and a net margin of 3.62%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business earned $0.61 EPS. Robert Half’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts expect that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.36 annualized dividend and a dividend yield of 5.64%. Robert Half’s payout ratio is 118.00%.

Analyst Ratings Changes

Several research analysts recently commented on the company. The Goldman Sachs Group reduced their price target on Robert Half from $46.00 to $40.00 and set a “sell” rating for the company in a research report on Thursday, April 24th. BNP Paribas Exane cut Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday, May 2nd. JPMorgan Chase & Co. cut their price objective on Robert Half from $65.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Truist Financial set a $55.00 price objective on Robert Half and gave the company a “buy” rating in a research report on Thursday, April 24th. Finally, BNP Paribas cut Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price objective for the company. in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.71.

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 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.