Edgestream Partners L.P. Trims Holdings in Robert Half Inc. (NYSE:RHI)

Edgestream Partners L.P. lowered its stake in shares of Robert Half Inc. (NYSE:RHI) by 53.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,518 shares of the business services provider’s stock after selling 15,475 shares during the period. Edgestream Partners L.P.’s holdings in Robert Half were worth $865,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Qsemble Capital Management LP purchased a new position in shares of Robert Half during the first quarter worth $1,454,000. UniSuper Management Pty Ltd boosted its holdings in Robert Half by 671.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,341 shares of the business services provider’s stock valued at $978,000 after acquiring an additional 10,741 shares during the period. Franklin Resources Inc. grew its position in Robert Half by 35.1% in the 4th quarter. Franklin Resources Inc. now owns 253,968 shares of the business services provider’s stock valued at $22,329,000 after acquiring an additional 66,049 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Robert Half by 10.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 122,356 shares of the business services provider’s stock worth $9,700,000 after purchasing an additional 11,124 shares during the period. Finally, iA Global Asset Management Inc. lifted its position in shares of Robert Half by 167.3% during the first quarter. iA Global Asset Management Inc. now owns 21,414 shares of the business services provider’s stock worth $1,698,000 after purchasing an additional 13,404 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analyst Upgrades and Downgrades

RHI has been the topic of several recent research reports. Truist Financial cut their target price on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets cut their price objective on Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a research report on Thursday, July 25th. StockNews.com lowered Robert Half from a “buy” rating to a “hold” rating in a report on Friday, July 5th. BNP Paribas upgraded Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Tuesday, June 11th. Finally, Barclays reduced their price target on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.86.

Robert Half Price Performance

NYSE:RHI opened at $66.80 on Friday. Robert Half Inc. has a 12 month low of $57.05 and a 12 month high of $88.39. The firm has a market capitalization 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. The business’s fifty day moving average price is $62.89 and its 200 day moving average price is $67.54.

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). The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. Robert Half’s revenue was down 10.2% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. As a group, equities analysts anticipate that Robert Half Inc. will post 2.52 EPS for the current year.

Robert Half Announces Dividend

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

Insider Activity

In related news, Director Dirk A. Kempthorne sold 1,300 shares of Robert Half stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $63.09, for a total transaction of $82,017.00. Following the sale, the director now directly owns 13,342 shares in the company, valued at approximately $841,746.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Robert Half Company 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.