JLB & Associates Inc. Reduces Position in Robert Half Inc. (NYSE:RHI)

JLB & Associates Inc. trimmed its holdings in Robert Half Inc. (NYSE:RHI) by 6.9% during the fourth quarter, HoldingsChannel reports. The firm owned 44,481 shares of the business services provider’s stock after selling 3,283 shares during the period. JLB & Associates Inc.’s holdings in Robert Half were worth $3,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RHI. Ieq Capital LLC lifted its position in Robert Half by 24.4% during the fourth quarter. Ieq Capital LLC now owns 228,033 shares of the business services provider’s stock worth $16,067,000 after buying an additional 44,704 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Robert Half in the 4th quarter worth $1,133,000. New York State Common Retirement Fund raised its holdings in shares of Robert Half by 11.7% during the 4th quarter. New York State Common Retirement Fund now owns 167,302 shares of the business services provider’s stock worth $11,788,000 after acquiring an additional 17,509 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Robert Half during the 4th quarter worth $346,000. Finally, Cardinal Capital Management grew its holdings in shares of Robert Half by 1.1% in the fourth quarter. Cardinal Capital Management now owns 36,509 shares of the business services provider’s stock valued at $2,572,000 after purchasing an additional 408 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on RHI. BNP Paribas upgraded shares of 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. JPMorgan Chase & Co. cut their price target on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Barclays upgraded Robert Half from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $60.00 to $80.00 in a report on Friday, January 3rd. Finally, Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and raised their target price for the stock from $62.00 to $90.00 in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.92.

Robert Half Stock Performance

Robert Half stock opened at $60.02 on Friday. The company’s 50 day simple moving average is $67.36 and its 200-day simple moving average is $67.52. Robert Half Inc. has a 1 year low of $57.05 and a 1 year high of $83.25. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 24.60 and a beta of 1.23.

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

Robert Half Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.59 per share. This is a positive change from Robert Half’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.36 annualized dividend and a yield of 3.93%. Robert Half’s dividend payout ratio is presently 86.89%.

Insider Activity at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total transaction of $76,729.20. Following the sale, the director now directly owns 12,310 shares of the company’s stock, valued at $915,248.50. This represents a 7.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by company insiders.

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.