Robert Half (NYSE:RHI) Raised to Hold at Truist Financial

Truist Financial upgraded shares of Robert Half (NYSE:RHI) from a sell rating to a hold rating in a report published on Monday, Marketbeat Ratings reports. The firm currently has $72.00 price target on the business services provider’s stock.

Separately, BMO Capital Markets decreased their price objective on Robert Half from $85.00 to $80.00 and set a market perform rating for the company in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $68.57.

Robert Half Stock Performance

Shares of RHI opened at $70.60 on Monday. Robert Half has a 52 week low of $64.65 and a 52 week high of $88.39. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 17.83 and a beta of 1.26. The stock has a fifty day moving average of $77.46 and a 200-day moving average of $79.50.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. Robert Half had a return on equity of 25.73% and a net margin of 6.43%. Robert Half’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 earnings per share. As a group, equities analysts forecast that Robert Half will post 3.34 EPS for the current year.

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, February 22nd. This is a boost from Robert Half’s previous quarterly dividend of $0.48. Robert Half’s dividend payout ratio is 54.78%.

Insider Transactions at Robert Half

In other news, EVP Robert W. Glass sold 7,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $80.46, for a total transaction of $603,450.00. Following the transaction, the executive vice president now owns 186,062 shares of the company’s stock, valued at approximately $14,970,548.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Robert Half

Several large investors have recently added to or reduced their stakes in the business. WCM Investment Management LLC lifted its position in Robert Half by 7.5% in the 1st quarter. WCM Investment Management LLC now owns 2,557 shares of the business services provider’s stock valued at $203,000 after acquiring an additional 178 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Robert Half by 10.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 83,467 shares of the business services provider’s stock worth $6,617,000 after buying an additional 7,900 shares in the last quarter. Family Legacy Inc. lifted its position in shares of Robert Half by 2.0% during the 1st quarter. Family Legacy Inc. now owns 7,177 shares of the business services provider’s stock worth $569,000 after buying an additional 144 shares in the last quarter. Silver Lake Advisory LLC lifted its position in shares of Robert Half by 7.7% during the 1st quarter. Silver Lake Advisory LLC now owns 54,377 shares of the business services provider’s stock worth $4,311,000 after buying an additional 3,898 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Robert Half by 6.6% during the 1st quarter. Fifth Third Bancorp now owns 2,888 shares of the business services provider’s stock worth $229,000 after buying an additional 180 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

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.