Wellington Management Group LLP decreased its holdings in Robert Half Inc. (NYSE:RHI - Free Report) by 28.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 211,377 shares of the business services provider's stock after selling 83,212 shares during the period. Wellington Management Group LLP owned approximately 0.20% of Robert Half worth $14,249,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Robert Half by 489.4% during the second 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 period. V Square Quantitative Management LLC bought a new stake in shares of Robert Half in the 3rd quarter valued at about $27,000. Private Trust Co. NA boosted its holdings in 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 period. Reston Wealth Management LLC bought a new position in Robert Half during the 3rd quarter worth approximately $34,000. Finally, GAMMA Investing LLC increased its stake in Robert Half by 35.6% in the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider's stock worth $46,000 after purchasing an additional 179 shares during the period. Institutional investors own 92.41% of the company's stock.
Insider Buying and Selling
In related news, Director Dirk A. Kempthorne sold 1,032 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was 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 of the company's stock, valued at $915,248.50. This 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 at this link. 3.00% of the stock is owned by insiders.
Analyst Ratings Changes
RHI has been the subject of a number of analyst reports. Truist Financial raised Robert Half from a "hold" rating to a "buy" rating and increased their price objective for the company from $62.00 to $90.00 in a research note on Friday. JPMorgan Chase & Co. lowered their price target on shares of Robert Half from $70.00 to $69.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $73.67.
View Our Latest Analysis on RHI
Robert Half Trading Up 0.8 %
Shares of RHI stock traded up $0.59 during trading hours on Friday, reaching $76.10. The company's stock had a trading volume of 1,003,604 shares, compared to its average volume of 1,351,168. Robert Half Inc. has a one year low of $57.05 and a one year high of $88.39. The stock has a market capitalization of $7.86 billion, a P/E ratio of 27.77 and a beta of 1.24. The firm's fifty day simple moving average is $71.62 and its 200 day simple moving average is $66.42.
Robert Half (NYSE:RHI - Get Free Report) last released its quarterly 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. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast 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. Investors of record on Monday, November 25th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, November 25th. Robert Half's dividend payout ratio is currently 77.37%.
About Robert Half
(
Free Report)
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.
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