abrdn plc Increases Stock Holdings in Robert Half Inc. (NYSE:RHI)

abrdn plc lifted its position in Robert Half Inc. (NYSE:RHI) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 318,522 shares of the business services provider’s stock after purchasing an additional 40,568 shares during the quarter. abrdn plc owned about 0.30% of Robert Half worth $28,004,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Robert Half by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,634,682 shares of the business services provider’s stock worth $193,069,000 after buying an additional 57,130 shares during the period. Boston Partners boosted its stake in Robert Half by 61.5% during the third quarter. Boston Partners now owns 2,395,745 shares of the business services provider’s stock worth $175,400,000 after buying an additional 911,969 shares during the period. Northern Trust Corp boosted its stake in Robert Half by 10.1% during the third quarter. Northern Trust Corp now owns 1,792,144 shares of the business services provider’s stock worth $131,328,000 after buying an additional 164,517 shares during the period. Invesco Ltd. boosted its stake in Robert Half by 8.6% during the third quarter. Invesco Ltd. now owns 1,706,986 shares of the business services provider’s stock worth $125,088,000 after buying an additional 135,664 shares during the period. Finally, Mawer Investment Management Ltd. purchased a new position in Robert Half during the third quarter worth about $106,840,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Stock Up 1.8 %

Shares of NYSE:RHI opened at $71.50 on Tuesday. The firm’s 50 day moving average price is $78.01 and its 200 day moving average price is $79.59. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 17.51 and a beta of 1.26. Robert Half Inc. has a fifty-two week low of $64.65 and a fifty-two week high of $88.39.

Robert Half (NYSE:RHI) last issued its earnings results on Tuesday, January 30th. The business services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The firm’s revenue was down 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. On average, equities analysts anticipate that Robert Half Inc. will post 3.34 EPS for the current year.

Robert Half Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were issued a $0.53 dividend. This is a boost from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 22nd. This represents a $2.12 annualized dividend and a yield of 2.97%. Robert Half’s dividend payout ratio (DPR) is 54.78%.

Insider Activity at Robert Half

In related news, EVP Robert W. Glass sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the sale, the executive vice president now owns 186,062 shares of the company’s stock, valued at $14,970,548.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Truist Financial raised shares of Robert Half from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a research note on Monday. 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.57.

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.