Townsquare Capital LLC Takes Position in Robert Half Inc. (NYSE:RHI)

Townsquare Capital LLC purchased a new stake in Robert Half Inc. (NYSE:RHI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,779 shares of the business services provider's stock, valued at approximately $407,000.

Several other institutional investors have also recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in Robert Half by 24.1% in the 4th quarter. Van ECK Associates Corp now owns 85,878 shares of the business services provider's stock valued at $6,051,000 after acquiring an additional 16,668 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Robert Half by 347.9% in the fourth quarter. SG Americas Securities LLC now owns 16,586 shares of the business services provider's stock valued at $1,169,000 after purchasing an additional 12,883 shares during the period. Smartleaf Asset Management LLC increased its stake in Robert Half by 48.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 794 shares of the business services provider's stock valued at $56,000 after purchasing an additional 258 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Robert Half by 20.5% during the third quarter. JPMorgan Chase & Co. now owns 270,467 shares of the business services provider's stock worth $18,232,000 after buying an additional 46,100 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in Robert Half by 46.3% in the 4th quarter. Tributary Capital Management LLC now owns 13,575 shares of the business services provider's stock worth $956,000 after buying an additional 4,299 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RHI has been the topic of several recent analyst reports. Barclays cut their price objective on shares of Robert Half from $80.00 to $50.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. BNP Paribas raised shares of Robert Half from an "underperform" rating to an "outperform" rating and set a $71.50 price objective for the company in a research note on Monday, February 10th. The Goldman Sachs Group dropped their price objective on Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a report on Thursday. Truist Financial set a $55.00 target price on Robert Half and gave the company a "buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their price target on Robert Half from $65.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Robert Half currently has an average rating of "Hold" and an average target price of $58.07.

Robert Half Price Performance

NYSE:RHI traded down $1.96 during mid-day trading on Thursday, reaching $44.49. The stock had a trading volume of 6,282,769 shares, compared to its average volume of 1,483,894. The stock's 50 day simple moving average is $53.47 and its two-hundred day simple moving average is $64.21. Robert Half Inc. has a 1-year low of $38.65 and a 1-year high of $78.41. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 18.23 and a beta of 1.13.

Robert Half (NYSE:RHI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.19). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.41 billion. Robert Half had a return on equity of 17.20% and a net margin of 4.34%. During the same period last year, the company posted $0.61 earnings per share. Sell-side analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were paid a $0.59 dividend. This is a boost from Robert Half's previous quarterly dividend of $0.53. The ex-dividend date was Tuesday, February 25th. This represents a $2.36 annualized dividend and a dividend yield of 5.30%. Robert Half's dividend payout ratio is presently 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.