Johnson Investment Counsel Inc. Reduces Stock Position in Robert Half Inc. (NYSE:RHI)

Johnson Investment Counsel Inc. cut its stake in Robert Half Inc. (NYSE:RHI) by 9.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,943 shares of the business services provider’s stock after selling 538 shares during the period. Johnson Investment Counsel Inc.’s holdings in Robert Half were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. LPL Financial LLC grew its position in shares of Robert Half by 8.4% in the second quarter. LPL Financial LLC now owns 44,397 shares of the business services provider’s stock valued at $3,340,000 after purchasing an additional 3,450 shares in the last quarter. New Mexico Educational Retirement Board grew its position in Robert Half by 4.0% in the second quarter. New Mexico Educational Retirement Board now owns 5,253 shares of the business services provider’s stock worth $395,000 after acquiring an additional 200 shares during the period. Private Advisor Group LLC purchased a new position in Robert Half in the first quarter worth approximately $837,000. Exchange Traded Concepts LLC grew its position in Robert Half by 6.4% in the second quarter. Exchange Traded Concepts LLC now owns 3,401 shares of the business services provider’s stock worth $256,000 after acquiring an additional 204 shares during the period. Finally, Achmea Investment Management B.V. grew its position in Robert Half by 43.0% in the second quarter. Achmea Investment Management B.V. now owns 86,784 shares of the business services provider’s stock worth $6,527,000 after acquiring an additional 26,091 shares during the period. 91.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Robert Half news, EVP Robert W. Glass sold 14,751 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $75.15, for a total value of $1,108,537.65. Following the sale, the executive vice president now directly owns 209,927 shares in the company, valued at $15,776,014.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Robert Half Trading Up 1.9 %

Shares of NYSE RHI opened at $82.42 on Tuesday. The stock has a market cap of $8.73 billion, a P/E ratio of 18.69, a PEG ratio of 16.48 and a beta of 1.26. Robert Half Inc. has a 12-month low of $64.65 and a 12-month high of $89.78. The business’s fifty day simple moving average is $75.14 and its 200-day simple moving average is $74.12.

Robert Half (NYSE:RHI) last announced its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.09. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Robert Half had a return on equity of 29.60% and a net margin of 7.09%. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period last year, the firm earned $1.53 earnings per share. On average, equities analysts forecast that Robert Half Inc. will post 3.86 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, November 22nd. Robert Half’s payout ratio is currently 43.54%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com upgraded Robert Half from a “hold” rating to a “buy” rating in a research report on Sunday, October 15th. Robert W. Baird lowered their price objective on Robert Half from $88.00 to $82.00 in a research report on Wednesday, July 26th. Bank of America decreased their price target on Robert Half from $63.00 to $53.00 in a research note on Thursday, July 27th. UBS Group started coverage on Robert Half in a research note on Tuesday, November 7th. They set a “sell” rating and a $60.00 price target on the stock. Finally, Credit Suisse Group decreased their price target on Robert Half from $63.00 to $57.00 in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.63.

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 three segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti. 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.