GRIMES & Co WEALTH MANAGEMENT LLC Decreases Stake in Robert Half Inc. $RHI

GRIMES & Co WEALTH MANAGEMENT LLC reduced its holdings in Robert Half Inc. (NYSE:RHI) by 79.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,076 shares of the business services provider’s stock after selling 154,616 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Robert Half were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Crestwood Advisors Group LLC purchased a new position in shares of Robert Half in the fourth quarter worth about $275,000. Sequoia Financial Advisors LLC lifted its stake in shares of Robert Half by 144.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 27,129 shares of the business services provider’s stock worth $737,000 after buying an additional 16,024 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Robert Half by 94.3% in the fourth quarter. Fifth Third Bancorp now owns 1,368 shares of the business services provider’s stock worth $37,000 after buying an additional 664 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Robert Half by 38.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 82,135 shares of the business services provider’s stock worth $2,231,000 after buying an additional 22,984 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Robert Half by 7.3% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 75,540 shares of the business services provider’s stock worth $2,052,000 after buying an additional 5,150 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RHI shares. The Goldman Sachs Group raised their price target on shares of Robert Half from $24.00 to $27.00 and gave the stock a “sell” rating in a research note on Tuesday, February 3rd. Barclays decreased their price target on shares of Robert Half from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, March 6th. Robert W. Baird set a $50.00 price target on shares of Robert Half in a research note on Friday, January 30th. Truist Financial raised their price target on shares of Robert Half from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings downgraded shares of Robert Half from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, Robert Half currently has an average rating of “Reduce” and a consensus price target of $31.75.

Robert Half Price Performance

Shares of RHI stock opened at $26.98 on Friday. The firm’s 50-day moving average is $25.11 and its two-hundred day moving average is $26.78. Robert Half Inc. has a 12 month low of $21.83 and a 12 month high of $48.54. The company has a market capitalization of $2.76 billion, a PE ratio of 20.75 and a beta of 0.80.

Robert Half (NYSE:RHI) last issued its earnings results on Thursday, April 23rd. The business services provider reported $0.14 EPS for the quarter, hitting analysts’ consensus estimates of $0.14. Robert Half had a net margin of 2.43% and a return on equity of 10.14%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm earned $0.17 earnings per share. Robert Half’s quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts forecast that Robert Half Inc. will post 1.36 EPS for the current year.

Robert Half Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 8.7%. Robert Half’s payout ratio is 181.54%.

Robert Half Company Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest?standing and best?known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.