Geode Capital Management LLC Decreases Stock Position in Robert Half Inc. (NYSE:RHI)

Geode Capital Management LLC reduced its position in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,056,267 shares of the business services provider's stock after selling 101,179 shares during the period. Geode Capital Management LLC owned approximately 1.99% of Robert Half worth $138,643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RHI. Blue Trust Inc. grew its stake in Robert Half by 489.4% during the second quarter. Blue Trust Inc. now owns 389 shares of the business services provider's stock worth $25,000 after buying an additional 323 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Robert Half during the 3rd quarter worth approximately $27,000. Private Trust Co. NA boosted 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 worth $29,000 after acquiring an additional 192 shares in the last quarter. Reston Wealth Management LLC bought a new position in Robert Half in the third quarter valued at approximately $34,000. Finally, Family Firm Inc. acquired a new position in Robert Half during the second quarter valued at approximately $45,000. 92.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BNP Paribas cut shares of Robert Half from an "outperform" rating to an "underperform" rating and set a $64.00 target price for the company. in a report on Monday. JPMorgan Chase & Co. cut their price objective on Robert Half from $70.00 to $69.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Finally, Truist Financial upgraded Robert Half from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $62.00 to $90.00 in a research report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $71.00.

Insider Buying and Selling at Robert Half

In other Robert Half news, Director Dirk A. Kempthorne sold 1,032 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total transaction of $76,729.20. Following the completion of the sale, the director now 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.00% of the company's stock.

Robert Half Price Performance

NYSE RHI traded down $0.93 on Tuesday, reaching $74.15. The company had a trading volume of 908,149 shares, compared to its average volume of 1,347,613. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 27.18 and a beta of 1.24. Robert Half Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $88.39. The business has a 50 day moving average of $71.79 and a two-hundred day moving average of $66.50.

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

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Monday, November 25th. Robert Half's payout ratio is 77.37%.

About Robert Half

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.