Wellington Management Group LLP Purchases 619,982 Shares of Robert Half Inc. (NYSE:RHI)

Wellington Management Group LLP lifted its position in shares of Robert Half Inc. (NYSE:RHI) by 293.3% in the 4th quarter, Holdings Channel reports. The fund owned 831,359 shares of the business services provider’s stock after buying an additional 619,982 shares during the quarter. Wellington Management Group LLP’s holdings in Robert Half were worth $58,578,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Robert Half by 613.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider’s stock worth $25,000 after purchasing an additional 313 shares during the period. Signaturefd LLC boosted its holdings in Robert Half by 121.3% in the 4th quarter. Signaturefd LLC now owns 436 shares of the business services provider’s stock worth $31,000 after buying an additional 239 shares during the period. Eastern Bank bought a new position in Robert Half in the 4th quarter worth approximately $35,000. V Square Quantitative Management LLC grew its stake in Robert Half by 70.6% in the 4th quarter. V Square Quantitative Management LLC now owns 679 shares of the business services provider’s stock valued at $48,000 after buying an additional 281 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position 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 worth $55,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Robert Half Price Performance

Shares of Robert Half stock opened at $48.34 on Friday. The company has a 50 day simple moving average of $57.73 and a two-hundred day simple moving average of $66.03. 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.

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 the consensus estimate 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, research analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This is a positive change from Robert Half’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 4.88%. Robert Half’s dividend payout ratio is 96.72%.

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.