Retirement Systems of Alabama Cuts Stock Holdings in Robert Half Inc. (NYSE:RHI)

Retirement Systems of Alabama decreased its stake in shares of Robert Half Inc. (NYSE:RHI) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,339 shares of the business services provider’s stock after selling 875 shares during the period. Retirement Systems of Alabama’s holdings in Robert Half were worth $2,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of RHI. Commonwealth Equity Services LLC boosted its position in Robert Half by 2.9% in the third quarter. Commonwealth Equity Services LLC now owns 6,663 shares of the business services provider’s stock worth $488,000 after purchasing an additional 188 shares during the last quarter. IFM Investors Pty Ltd boosted its position in Robert Half by 14.0% in the third quarter. IFM Investors Pty Ltd now owns 23,974 shares of the business services provider’s stock worth $1,757,000 after purchasing an additional 2,950 shares during the last quarter. Advisor Partners II LLC boosted its position in Robert Half by 37.6% in the third quarter. Advisor Partners II LLC now owns 7,209 shares of the business services provider’s stock worth $528,000 after purchasing an additional 1,970 shares during the last quarter. TD Asset Management Inc boosted its position in Robert Half by 7.7% in the third quarter. TD Asset Management Inc now owns 67,666 shares of the business services provider’s stock worth $4,959,000 after purchasing an additional 4,821 shares during the last quarter. Finally, ING Groep NV purchased a new position in Robert Half in the third quarter worth $985,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Truist Financial raised Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research report on Monday, April 22nd. Robert W. Baird dropped their price target on Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. StockNews.com cut Robert Half from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, BMO Capital Markets dropped their price target on Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.14.

Robert Half Stock Performance

NYSE:RHI opened at $70.13 on Thursday. Robert Half Inc. has a 52-week low of $64.65 and a 52-week high of $88.39. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 3.30 and a beta of 1.30. The business’s fifty day moving average is $75.32 and its 200 day moving average is $79.07.

Robert Half (NYSE:RHI) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Robert Half had a return on equity of 22.36% and a net margin of 5.74%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company posted $1.14 EPS. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. Equities analysts predict that Robert Half Inc. will post 2.98 EPS for the current fiscal year.

Robert Half Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.02%. Robert Half’s dividend payout ratio is currently 63.47%.

Insiders Place Their Bets

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $80.46, for a total value of $603,450.00. Following the transaction, the executive vice president now directly owns 186,062 shares in the company, valued at approximately $14,970,548.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

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.