Robert Half Inc. (NYSE:RHI) Position Cut by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in Robert Half Inc. (NYSE:RHI) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 273,562 shares of the business services provider’s stock after selling 10,610 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of Robert Half worth $24,052,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in Robert Half by 17.8% in the third quarter. Hsbc Holdings PLC now owns 785,690 shares of the business services provider’s stock valued at $57,594,000 after buying an additional 118,800 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Robert Half by 151.9% during the third quarter. Ontario Teachers Pension Plan Board now owns 72,505 shares of the business services provider’s stock valued at $5,313,000 after purchasing an additional 43,726 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Robert Half by 88.5% during the third quarter. Nordea Investment Management AB now owns 27,740 shares of the business services provider’s stock valued at $2,048,000 after purchasing an additional 13,026 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Robert Half by 9.5% during the third quarter. Rehmann Capital Advisory Group now owns 5,925 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 512 shares in the last quarter. Finally, Toroso Investments LLC raised its stake in shares of Robert Half by 11.8% during the third quarter. Toroso Investments LLC now owns 41,244 shares of the business services provider’s stock valued at $3,022,000 after purchasing an additional 4,348 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors.

Robert Half Trading Up 1.0 %

Shares of NYSE RHI opened at $70.23 on Monday. Robert Half Inc. has a twelve month low of $64.65 and a twelve month high of $88.39. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 17.51 and a beta of 1.26. The firm has a 50-day moving average of $78.01 and a two-hundred day moving average of $79.59.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Tuesday, January 30th. The business services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the prior year, the company earned $1.37 EPS. Robert Half’s revenue was down 14.7% on a year-over-year basis. As a group, research analysts predict that Robert Half Inc. will post 3.34 earnings per share for the current year.

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.02%. The ex-dividend date was Thursday, February 22nd. This is an increase from Robert Half’s previous quarterly dividend of $0.48. Robert Half’s payout ratio is presently 54.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RHI. Truist Financial lifted their price objective on shares of Robert Half from $66.00 to $72.00 and gave the company a “sell” rating in a research note on Thursday, January 25th. BMO Capital Markets cut their price objective on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.57.

Insiders Place Their Bets

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was 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 filing with the SEC, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

About Robert Half

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.