Kiltearn Partners LLP Takes Position in Robert Half Inc. (NYSE:RHI)

Kiltearn Partners LLP purchased a new position in Robert Half Inc. (NYSE:RHI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 363,700 shares of the business services provider’s stock, valued at approximately $23,270,000. Robert Half accounts for about 2.8% of Kiltearn Partners LLP’s investment portfolio, making the stock its 14th biggest position. Kiltearn Partners LLP owned approximately 0.35% of Robert Half at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mawer Investment Management Ltd. raised its stake in shares of Robert Half by 105.4% in the first quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock valued at $289,818,000 after buying an additional 1,875,476 shares during the period. Thrivent Financial for Lutherans increased its holdings in Robert Half by 27,895.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,244,939 shares of the business services provider’s stock worth $79,652,000 after acquiring an additional 1,240,492 shares during the last quarter. Capital World Investors raised its stake in Robert Half by 6.7% in the 4th quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock valued at $1,281,429,000 after acquiring an additional 917,311 shares during the period. Norges Bank purchased a new stake in Robert Half during the fourth quarter valued at about $73,311,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Robert Half by 900.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 834,447 shares of the business services provider’s stock worth $66,155,000 after purchasing an additional 751,049 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Activity

In other news, Director Dirk A. Kempthorne sold 1,300 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $63.09, for a total transaction of $82,017.00. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

RHI has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Barclays dropped their price objective on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, July 26th. StockNews.com lowered Robert Half from a “buy” rating to a “hold” rating in a report on Friday, July 5th. Truist Financial lowered their price target 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, BMO Capital Markets reduced their price objective on shares of Robert Half from $72.00 to $64.00 and set a “market perform” rating for the company in a research note on Thursday, July 25th. Two 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.

Robert Half Price Performance

NYSE:RHI opened at $68.29 on Tuesday. Robert Half Inc. has a 1-year low of $57.05 and a 1-year high of $88.39. The business has a 50 day moving average of $62.98 and a 200 day moving average of $67.37. 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.

Robert Half (NYSE:RHI) last announced its quarterly earnings data 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). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a net margin of 5.26% and a return on equity of 20.41%. Robert Half’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS. As a group, sell-side analysts anticipate that Robert Half Inc. will post 2.52 EPS for the current year.

Robert Half Dividend Announcement

The business also recently announced 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. This represents a $2.12 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, August 23rd. Robert Half’s dividend payout ratio is presently 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.