Ontario Teachers Pension Plan Board raised its holdings in shares of Robert Half Inc. (NYSE:RHI – Free Report) by 72.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,444 shares of the business services provider’s stock after buying an additional 9,003 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Robert Half were worth $1,728,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in Robert Half by 964.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 362 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 328 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of Robert Half in the fourth quarter worth about $27,000. Salem Investment Counselors Inc. purchased a new position in Robert Half in the 2nd quarter worth about $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in Robert Half during the 4th quarter valued at about $28,000. Finally, Ameritas Advisory Services LLC bought a new stake in Robert Half during the 1st quarter valued at about $35,000. 91.63% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Robert W. Glass sold 14,751 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $75.15, for a total value of $1,108,537.65. Following the completion of the transaction, the executive vice president now directly owns 209,927 shares of the company’s stock, valued at approximately $15,776,014.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Robert Half news, Director Dirk A. Kempthorne sold 2,050 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $74.15, for a total transaction of $152,007.50. Following the sale, the director now owns 12,934 shares in the company, valued at approximately $959,056.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert W. Glass sold 14,751 shares of Robert Half stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $75.15, for a total value of $1,108,537.65. Following the sale, the executive vice president now directly owns 209,927 shares of the company’s stock, valued at approximately $15,776,014.05. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
Robert Half Stock Down 0.1 %
Robert Half (NYSE:RHI – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.13). Robert Half had a return on equity of 34.51% and a net margin of 7.84%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. Robert Half’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, analysts forecast that Robert Half Inc. will post 3.72 earnings per share for the current fiscal year.
Robert Half Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, August 24th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.61%. Robert Half’s payout ratio is 38.10%.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. UBS Group began coverage on shares of Robert Half in a research note on Wednesday, May 31st. They issued a “buy” rating and a $82.00 target price on the stock. Credit Suisse Group decreased their target price on Robert Half from $63.00 to $57.00 in a research report on Wednesday, July 26th. Bank of America dropped their price target on Robert Half from $63.00 to $53.00 in a research report on Thursday, July 27th. Redburn Partners began coverage on shares of Robert Half in a research note on Tuesday, June 20th. They issued a “neutral” rating and a $76.00 price objective for the company. Finally, BMO Capital Markets reduced their price target on shares of Robert Half from $84.00 to $76.00 in a report on Thursday, July 27th. Two 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.com, the company currently has an average rating of “Hold” and a consensus target price of $71.22.
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.
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