Edgestream Partners L.P. Buys 29,240 Shares of Robert Half Inc. (NYSE:RHI)

Edgestream Partners L.P. lifted its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 216.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,758 shares of the business services provider's stock after purchasing an additional 29,240 shares during the period. Edgestream Partners L.P.'s holdings in Robert Half were worth $2,882,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RHI. Blue Trust Inc. boosted its position in Robert Half by 489.4% in 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 last quarter. V Square Quantitative Management LLC acquired a new position in Robert Half in the third quarter valued at approximately $27,000. Private Trust Co. NA raised its position in shares of Robert Half by 79.7% during the 3rd quarter. Private Trust Co. NA now owns 433 shares of the business services provider's stock valued at $29,000 after acquiring an additional 192 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Robert Half in the 3rd quarter worth $34,000. Finally, Versant Capital Management Inc bought a new stake in Robert Half in the second quarter valued at about $35,000. 92.41% of the stock is owned by institutional investors.

Robert Half Trading Down 0.1 %

Shares of NYSE:RHI traded down $0.07 during trading on Monday, hitting $74.54. 707,635 shares of the company's stock traded hands, compared to its average volume of 1,369,801. The company has a 50-day moving average price of $70.23 and a 200-day moving average price of $65.96. Robert Half Inc. has a 52 week low of $57.05 and a 52 week high of $88.39. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 27.20 and a beta of 1.23.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 earnings per share. On average, analysts predict that Robert Half Inc. will post 2.45 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, November 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.84%. Robert Half's payout ratio is presently 77.37%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Robert Half from $70.00 to $69.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. One research analyst has 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.com, the stock has an average rating of "Hold" and an average target price of $69.00.

Insiders Place Their Bets

In other Robert Half news, Director Dirk A. Kempthorne sold 1,032 shares of Robert Half stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the sale, the director now directly owns 12,310 shares in the company, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.