Choreo LLC Buys Shares of 3,868 Robert Half Inc. (NYSE:RHI)

Choreo LLC purchased a new stake in shares of Robert Half Inc. (NYSE:RHI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,868 shares of the business services provider’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RHI. Blue Trust Inc. lifted its holdings in shares of Robert Half by 489.4% during the 2nd quarter. Blue Trust Inc. now owns 389 shares of the business services provider’s stock valued at $25,000 after buying an additional 323 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Robert Half during the 1st quarter valued at $26,000. Versant Capital Management Inc bought a new position in shares of Robert Half during the 2nd quarter valued at $35,000. Family Firm Inc. bought a new position in shares of Robert Half during the 2nd quarter valued at $45,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Robert Half by 55.7% during the 4th quarter. Parallel Advisors LLC now owns 646 shares of the business services provider’s stock valued at $57,000 after buying an additional 231 shares during the period. 92.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Dirk A. Kempthorne sold 1,300 shares of Robert Half stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $63.09, for a total value of $82,017.00. Following the sale, the director now directly owns 13,342 shares of the company’s stock, valued at $841,746.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.

Robert Half Stock Performance

Shares of RHI stock opened at $63.71 on Thursday. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $88.39. The firm has a market capitalization of $6.69 billion, a PE ratio of 19.07, a PEG ratio of 5.98 and a beta of 1.23. The stock has a fifty day simple moving average of $62.76 and a two-hundred day simple moving average of $67.73.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The company’s quarterly revenue was down 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Robert Half Inc. will post 2.52 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were paid a $0.53 dividend. The ex-dividend date was Friday, August 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.33%. Robert Half’s payout ratio is presently 63.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RHI shares. JPMorgan Chase & Co. lowered their price target on Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. BMO Capital Markets decreased their target price on Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a report on Thursday, July 25th. Barclays decreased their target price on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, July 26th. BNP Paribas raised Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Tuesday, June 11th. Finally, Truist Financial decreased their target price on Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.86.

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.