Pinnacle Associates Ltd. Trims Stock Holdings in Robert Half Inc. $RHI

Pinnacle Associates Ltd. decreased its holdings in shares of Robert Half Inc. (NYSE:RHI) by 85.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,232 shares of the business services provider’s stock after selling 104,834 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Robert Half were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in RHI. CoreFirst Bank & Trust boosted its holdings in shares of Robert Half by 34.7% in the third quarter. CoreFirst Bank & Trust now owns 8,030 shares of the business services provider’s stock worth $273,000 after acquiring an additional 2,070 shares during the period. Parallel Advisors LLC raised its stake in shares of Robert Half by 228.4% during the 3rd quarter. Parallel Advisors LLC now owns 6,610 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 4,597 shares during the period. Natixis Advisors LLC raised its stake in shares of Robert Half by 19.3% during the 3rd quarter. Natixis Advisors LLC now owns 13,930 shares of the business services provider’s stock valued at $473,000 after purchasing an additional 2,250 shares during the period. HUB Investment Partners LLC purchased a new stake in Robert Half during the 3rd quarter worth about $379,000. Finally, Barclays PLC boosted its stake in Robert Half by 217.5% in the 3rd quarter. Barclays PLC now owns 728,316 shares of the business services provider’s stock worth $24,748,000 after purchasing an additional 498,951 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RHI. Truist Financial lifted their target price on Robert Half from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 30th. Barclays lowered their price target on shares of Robert Half from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, March 6th. Robert W. Baird set a $50.00 price objective on shares of Robert Half in a research report on Friday, January 30th. BMO Capital Markets decreased their target price on shares of Robert Half from $35.00 to $32.00 and set a “market perform” rating on the stock in a report on Tuesday, February 17th. Finally, BNP Paribas Exane cut shares of Robert Half from a “neutral” rating to an “underperform” rating and set a $22.00 target price on the stock. in a research note on Friday, December 5th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $31.75.

Robert Half Stock Down 1.4%

Shares of NYSE RHI opened at $22.81 on Friday. The stock’s 50-day simple moving average is $27.12 and its two-hundred day simple moving average is $29.36. Robert Half Inc. has a twelve month low of $22.32 and a twelve month high of $55.24. The firm has a market capitalization of $2.31 billion, a P/E ratio of 17.15 and a beta of 0.90.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Robert Half had a return on equity of 10.26% and a net margin of 2.47%.The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the company posted $0.53 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, research analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Wednesday, February 25th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, February 25th. This represents a $2.36 annualized dividend and a yield of 10.3%. Robert Half’s payout ratio is presently 177.44%.

Robert Half Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest?standing and best?known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.