Pinnacle Associates Ltd. Sells 5,352 Shares of Robert Half Inc. (NYSE:RHI)

Pinnacle Associates Ltd. trimmed its stake in Robert Half Inc. (NYSE:RHI) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,040 shares of the business services provider’s stock after selling 5,352 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Robert Half were worth $12,474,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Robert Half by 3.0% during the first quarter. Vanguard Group Inc. now owns 12,795,282 shares of the business services provider’s stock valued at $1,014,410,000 after purchasing an additional 366,978 shares in the last quarter. Boston Partners lifted its holdings in shares of Robert Half by 14.7% during the first quarter. Boston Partners now owns 3,749,749 shares of the business services provider’s stock valued at $296,963,000 after purchasing an additional 479,384 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of Robert Half by 105.4% during the first quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock valued at $289,818,000 after purchasing an additional 1,875,476 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Robert Half by 54.7% during the second quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock valued at $104,218,000 after purchasing an additional 575,879 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Robert Half by 101.0% during the second quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider’s stock valued at $99,439,000 after purchasing an additional 786,031 shares in the last quarter. 92.41% of the stock is owned by institutional investors.

Robert Half Stock Down 0.6 %

Shares of RHI opened at $69.01 on Thursday. The business has a 50-day simple moving average of $65.31 and a two-hundred day simple moving average of $65.45. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 20.66 and a beta of 1.23. Robert Half Inc. has a 52 week low of $57.05 and a 52 week high of $88.39.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share. On average, equities analysts anticipate that Robert Half Inc. will post 2.51 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, November 25th. Robert Half’s payout ratio is 63.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BMO Capital Markets lowered their price target on Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a report on Thursday, July 25th. Barclays reduced their price objective on Robert Half from $70.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, July 26th. Truist Financial reduced their price objective on Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a research report on Friday, July 26th. StockNews.com cut Robert Half from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $67.71.

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.