Robert Half Inc. (NYSE:RHI) Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in Robert Half Inc. (NYSE:RHI) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,166 shares of the business services provider’s stock after selling 12,757 shares during the period. California Public Employees Retirement System’s holdings in Robert Half were worth $12,835,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC grew its position in Robert Half by 1.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 12,326 shares of the business services provider’s stock worth $868,000 after purchasing an additional 166 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Robert Half by 5.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,355 shares of the business services provider’s stock worth $236,000 after buying an additional 183 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Robert Half by 0.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 30,716 shares of the business services provider’s stock worth $2,164,000 after buying an additional 205 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Robert Half by 39.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the business services provider’s stock valued at $55,000 after buying an additional 220 shares in the last quarter. Finally, M&T Bank Corp raised its position in Robert Half by 3.7% during the third quarter. M&T Bank Corp now owns 6,419 shares of the business services provider’s stock valued at $432,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Robert Half Trading Down 5.1 %

RHI stock opened at $48.34 on Friday. The firm has a market cap of $4.94 billion, a PE ratio of 19.81 and a beta of 1.22. Robert Half Inc. has a 1 year low of $47.37 and a 1 year high of $78.41. The company has a fifty day simple moving average of $57.73 and a 200 day simple moving average of $66.03.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. As a group, analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 25th. This represents a $2.36 dividend on an annualized basis and a yield of 4.88%. This is a boost from Robert Half’s previous quarterly dividend of $0.53. Robert Half’s dividend payout ratio is presently 96.72%.

Wall Street Analyst Weigh In

RHI has been the subject of a number of research reports. BNP Paribas upgraded Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price objective for the company in a research report on Monday, February 10th. Truist Financial raised shares of Robert Half from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $90.00 in a research report on Friday, December 13th. JPMorgan Chase & Co. cut their target price on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Barclays upgraded Robert Half from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $60.00 to $80.00 in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $74.92.

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.