State of Michigan Retirement System Has $2.42 Million Stock Position in Robert Half Inc. (NYSE:RHI)

State of Michigan Retirement System decreased its stake in shares of Robert Half Inc. (NYSE:RHI) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,492 shares of the business services provider’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in Robert Half were worth $2,417,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RHI. Capital World Investors increased its position in shares of Robert Half by 6.7% during the 4th quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock worth $1,281,429,000 after purchasing an additional 917,311 shares during the last quarter. Boston Partners increased its position in shares of Robert Half by 36.5% during the 4th quarter. Boston Partners now owns 3,270,365 shares of the business services provider’s stock worth $287,265,000 after purchasing an additional 874,620 shares during the last quarter. Norges Bank acquired a new position in shares of Robert Half during the 4th quarter worth approximately $73,311,000. Mawer Investment Management Ltd. increased its position in shares of Robert Half by 22.1% during the 4th quarter. Mawer Investment Management Ltd. now owns 1,780,150 shares of the business services provider’s stock worth $156,511,000 after purchasing an additional 322,183 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new position in shares of Robert Half during the 4th quarter worth approximately $26,419,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RHI shares. BNP Paribas raised Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Tuesday, June 11th. Truist Financial upgraded Robert Half from a “sell” rating to a “hold” rating and set a $72.00 target price for the company in a research note on Monday, April 22nd. StockNews.com downgraded Robert Half from a “buy” rating to a “hold” rating in a research note on Monday, June 24th. Finally, Robert W. Baird reduced their target price on Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.71.

Robert Half Price Performance

RHI opened at $63.67 on Thursday. The business has a fifty day simple moving average of $66.54 and a 200 day simple moving average of $75.25. The company has a market capitalization of $6.68 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 5.22 and a beta of 1.25. Robert Half Inc. has a 1 year low of $61.07 and a 1 year high of $88.39.

Robert Half (NYSE:RHI) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Robert Half had a return on equity of 22.36% and a net margin of 5.74%. The firm’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. Equities analysts anticipate that Robert Half Inc. will post 2.92 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.12 annualized dividend and a yield of 3.33%. Robert Half’s dividend payout ratio (DPR) is presently 63.47%.

Insider Activity at Robert Half

In related news, Director Dirk A. Kempthorne sold 2,221 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $69.66, for a total value of $154,714.86. Following the completion of the sale, the director now directly owns 10,713 shares in the company, valued at approximately $746,267.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.