Stanley Capital Management LLC Takes Position in Robert Half Inc. (NYSE:RHI)

Stanley Capital Management LLC purchased a new position in shares of Robert Half Inc. (NYSE:RHI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 141,493 shares of the business services provider’s stock, valued at approximately $9,053,000. Robert Half accounts for 1.9% of Stanley Capital Management LLC’s portfolio, making the stock its 27th biggest holding. Stanley Capital Management LLC owned 0.13% of Robert Half at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RHI. Janney Montgomery Scott LLC acquired a new stake in Robert Half in the fourth quarter valued at $1,468,000. Norges Bank purchased a new stake in Robert Half during the fourth quarter worth about $73,311,000. PNC Financial Services Group Inc. grew its position in Robert Half by 7.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,989 shares of the business services provider’s stock worth $790,000 after buying an additional 654 shares during the period. Corient Private Wealth LLC grew its position in Robert Half by 32.1% during the fourth quarter. Corient Private Wealth LLC now owns 24,891 shares of the business services provider’s stock worth $2,188,000 after buying an additional 6,055 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Robert Half by 35.1% in the fourth quarter. Franklin Resources Inc. now owns 253,968 shares of the business services provider’s stock valued at $22,329,000 after buying an additional 66,049 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RHI shares. Barclays lowered their price target on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, July 26th. 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 report on Thursday, July 25th. StockNews.com lowered shares of Robert Half from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. BNP Paribas raised 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 note on Tuesday, June 11th. Finally, Truist Financial cut their target price on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a research report on Friday, July 26th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $67.86.

Insider Activity

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

Robert Half Trading Up 2.2 %

Shares of RHI stock opened at $68.29 on Tuesday. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 5.98 and a beta of 1.23. The firm has a 50-day moving average price of $62.98 and a 200 day moving average price of $67.37. Robert Half Inc. has a twelve month low of $57.05 and a twelve month high of $88.39.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). Robert Half had a net margin of 5.26% and a return on equity of 20.41%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the firm earned $1.00 EPS. The business’s quarterly revenue was down 10.2% on a year-over-year basis. As a group, research analysts predict that Robert Half Inc. will post 2.52 earnings per share for the current year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, August 23rd. Robert Half’s dividend payout ratio (DPR) is 63.47%.

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.