State of New Jersey Common Pension Fund D Trims Stock Holdings in Robert Half Inc. (NYSE:RHI)

State of New Jersey Common Pension Fund D reduced its position in Robert Half Inc. (NYSE:RHI) by 44.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,667 shares of the business services provider’s stock after selling 24,704 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Robert Half were worth $1,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Mawer Investment Management Ltd. boosted its stake in Robert Half by 105.4% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock worth $289,818,000 after purchasing an additional 1,875,476 shares during the period. Capital World Investors boosted its stake in shares of Robert Half by 6.7% during the fourth quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock worth $1,281,429,000 after buying an additional 917,311 shares during the period. Norges Bank purchased a new position in shares of Robert Half during the fourth quarter worth about $73,311,000. Jacobs Levy Equity Management Inc. increased its position in Robert Half by 900.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 834,447 shares of the business services provider’s stock valued at $66,155,000 after acquiring an additional 751,049 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new position in Robert Half in the 2nd quarter valued at about $35,357,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Robert Half news, Director Dirk A. Kempthorne sold 1,300 shares of the company’s stock in a transaction on 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 owns 13,342 shares of the company’s stock, valued at $841,746.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.

Robert Half Stock Up 1.2 %

NYSE:RHI opened at $66.80 on Friday. The firm’s fifty day simple moving average is $62.89 and its 200-day simple moving average is $67.54. The stock has a market cap of $7.01 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 5.98 and a beta of 1.23. Robert Half Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $88.39.

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

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were issued a dividend of $0.53 per share. The ex-dividend date was Friday, August 23rd. This represents a $2.12 annualized dividend and a yield of 3.17%. Robert Half’s dividend payout ratio is presently 63.47%.

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.