Geode Capital Management LLC Sells 101,179 Shares of Robert Half Inc. (NYSE:RHI)

Geode Capital Management LLC reduced its holdings in shares of Robert Half Inc. (NYSE:RHI) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,056,267 shares of the business services provider’s stock after selling 101,179 shares during the quarter. Geode Capital Management LLC’s holdings in Robert Half were worth $138,643,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Blue Trust Inc. increased its holdings in shares of Robert Half by 489.4% in the second quarter. Blue Trust Inc. now owns 389 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 323 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Robert Half during the second quarter worth approximately $483,000. Fifth Third Bancorp boosted its holdings in shares of Robert Half by 14.5% during the second quarter. Fifth Third Bancorp now owns 3,307 shares of the business services provider’s stock worth $212,000 after acquiring an additional 419 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in shares of Robert Half during the second quarter worth approximately $201,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of Robert Half by 752.5% during the second quarter. Louisiana State Employees Retirement System now owns 52,000 shares of the business services provider’s stock worth $3,327,000 after purchasing an additional 45,900 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RHI. JPMorgan Chase & Co. decreased their price objective on Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas downgraded shares of Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research note on Monday. Finally, Truist Financial upgraded shares of Robert Half from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $90.00 in a research note on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Robert Half presently has a consensus rating of “Hold” and an average target price of $71.00.

Insiders Place Their Bets

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 stock was sold at an average price of $74.35, for a total transaction of $76,729.20. Following the completion of the transaction, the director now owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Robert Half Stock Performance

RHI opened at $75.09 on Tuesday. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $88.39. The firm has a market cap of $7.75 billion, a P/E ratio of 27.41 and a beta of 1.24. The business’s fifty day moving average is $71.79 and its 200-day moving average is $66.50.

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

Robert Half Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.12 annualized dividend and a yield of 2.82%. Robert Half’s dividend payout ratio is currently 77.37%.

Robert Half 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.