Grimes & Company Inc. Reduces Holdings in Robert Half Inc. (NYSE:RHI)

Grimes & Company Inc. decreased its position in Robert Half Inc. (NYSE:RHI - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 256,889 shares of the business services provider's stock after selling 4,904 shares during the quarter. Grimes & Company Inc. owned 0.25% of Robert Half worth $18,100,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. grew its holdings in shares of 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 valued at $315,569,000 after purchasing an additional 1,049,005 shares in the last quarter. AQR Capital Management LLC boosted its position in Robert Half by 101.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider's stock valued at $99,439,000 after buying an additional 786,031 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Robert Half in the third quarter worth $41,096,000. Janus Henderson Group PLC increased its position in shares of Robert Half by 828.9% during the third quarter. Janus Henderson Group PLC now owns 463,570 shares of the business services provider's stock worth $31,249,000 after acquiring an additional 413,664 shares during the period. Finally, Pzena Investment Management LLC raised its stake in shares of Robert Half by 41.9% in the third quarter. Pzena Investment Management LLC now owns 1,027,683 shares of the business services provider's stock valued at $69,276,000 after acquiring an additional 303,421 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the stock in a transaction on Tuesday, November 26th. The stock was 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 directly owns 12,310 shares of the company's stock, valued at $915,248.50. This trade represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on RHI. Truist Financial upgraded Robert Half from a "hold" rating to a "buy" rating and upped their price target for the stock from $62.00 to $90.00 in a report on Friday, December 13th. JPMorgan Chase & Co. decreased their price target on shares of Robert Half from $70.00 to $69.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. BNP Paribas downgraded shares of Robert Half from an "outperform" rating to an "underperform" rating and set a $64.00 price objective on the stock. in a research report on Monday, December 16th. Finally, Barclays raised shares of Robert Half from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $60.00 to $80.00 in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $74.33.

Robert Half Trading Down 0.9 %

NYSE:RHI traded down $0.65 during midday trading on Friday, hitting $69.85. 921,024 shares of the company were exchanged, compared to its average volume of 669,785. Robert Half Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $83.25. The company has a market capitalization of $7.21 billion, a PE ratio of 25.49 and a beta of 1.24. The company has a fifty day simple moving average of $71.92 and a 200 day simple moving average of $67.78.

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

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a $0.53 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.12 annualized dividend and a yield of 3.03%. Robert Half's dividend payout ratio (DPR) is 77.37%.

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.