Allspring Global Investments Holdings LLC Decreases Stock Position in Robert Half Inc. (NYSE:RHI)

Allspring Global Investments Holdings LLC cut its holdings in Robert Half Inc. (NYSE:RHI) by 52.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,284 shares of the business services provider’s stock after selling 11,519 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Robert Half were worth $904,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Empirical Asset Management LLC lifted its holdings in shares of Robert Half by 2.6% during the fourth quarter. Empirical Asset Management LLC now owns 5,270 shares of the business services provider’s stock valued at $463,000 after purchasing an additional 134 shares in the last quarter. Wahed Invest LLC lifted its stake in Robert Half by 9.0% during the 3rd quarter. Wahed Invest LLC now owns 1,637 shares of the business services provider’s stock valued at $120,000 after acquiring an additional 135 shares during the period. Cypress Capital Group boosted its holdings in shares of Robert Half by 1.8% during the 3rd quarter. Cypress Capital Group now owns 8,402 shares of the business services provider’s stock valued at $616,000 after acquiring an additional 146 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Robert Half by 55.0% during the 4th quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 149 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Robert Half by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 48,997 shares of the business services provider’s stock worth $3,591,000 after acquiring an additional 175 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Trading Up 0.0 %

RHI opened at $71.52 on Wednesday. The firm’s 50 day simple moving average is $77.80 and its two-hundred day simple moving average is $79.58. The company has a market capitalization of $7.52 billion, a PE ratio of 18.56, a PEG ratio of 17.51 and a beta of 1.26. Robert Half Inc. has a 1-year low of $64.65 and a 1-year high of $88.39.

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

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a dividend of $0.53 per share. This is a boost from Robert Half’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, February 22nd. Robert Half’s payout ratio is presently 54.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RHI shares. BMO Capital Markets dropped their target price on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, January 31st. Truist Financial raised Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price objective for the company in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Robert Half has an average rating of “Hold” and a consensus target price of $68.57.

Insider Activity at Robert Half

In other Robert Half 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 transaction of $603,450.00. Following the sale, the executive vice president now owns 186,062 shares in the company, valued at approximately $14,970,548.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by corporate 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.