Hutchinson Capital Management CA Has $10.44 Million Stock Position in Robert Half Inc. (NYSE:RHI)

Hutchinson Capital Management CA lowered its position in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 17.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,168 shares of the business services provider's stock after selling 32,137 shares during the quarter. Robert Half makes up approximately 2.0% of Hutchinson Capital Management CA's holdings, making the stock its 24th biggest holding. Hutchinson Capital Management CA owned approximately 0.14% of Robert Half worth $10,440,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. boosted its stake in Robert Half by 28.9% in the third quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider's stock worth $315,569,000 after purchasing an additional 1,049,005 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Robert Half in the third quarter valued at about $41,096,000. Janus Henderson Group PLC lifted its position in Robert Half by 828.9% during the 3rd quarter. Janus Henderson Group PLC now owns 463,570 shares of the business services provider's stock worth $31,249,000 after buying an additional 413,664 shares in the last quarter. Pzena Investment Management LLC grew its holdings in Robert Half by 41.9% during the 3rd quarter. Pzena Investment Management LLC now owns 1,027,683 shares of the business services provider's stock worth $69,276,000 after acquiring an additional 303,421 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Robert Half by 20.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,343,030 shares of the business services provider's stock valued at $90,534,000 after acquiring an additional 225,210 shares in the last quarter. 92.41% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays upgraded shares of Robert Half from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $60.00 to $80.00 in a research report on Friday, January 3rd. BNP Paribas raised Robert Half from an "underperform" rating to an "outperform" rating and set a $71.50 price objective on the stock in a report on Monday, February 10th. Truist Financial raised Robert Half from a "hold" rating to a "buy" rating and lifted their target price for the company from $62.00 to $90.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. cut their price target on Robert Half from $69.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com lowered Robert Half from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $74.92.

Robert Half Price Performance

Shares of RHI stock traded down $0.65 during trading hours on Thursday, reaching $53.85. The company had a trading volume of 1,443,655 shares, compared to its average volume of 1,336,351. Robert Half Inc. has a 1-year low of $51.55 and a 1-year high of $81.85. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 22.07 and a beta of 1.22. The company has a 50 day moving average of $61.85 and a 200 day moving average of $66.87.

Robert Half (NYSE:RHI - Get Free Report) last released its earnings results on Wednesday, January 29th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. As a group, sell-side analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.36 dividend on an annualized basis and a yield of 4.38%. This is a boost from Robert Half's previous quarterly dividend of $0.53. Robert Half's payout ratio is currently 96.72%.

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.