Robert Half Inc. (NYSE:RHI) Stake Cut by Chase Investment Counsel Corp

Chase Investment Counsel Corp trimmed its stake in Robert Half Inc. (NYSE:RHI) by 5.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 16,000 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Chase Investment Counsel Corp’s holdings in Robert Half were worth $1,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of Robert Half by 18.6% during the fourth quarter. US Bancorp DE now owns 4,957 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 777 shares during the period. Dynasty Wealth Management LLC bought a new stake in shares of Robert Half during the fourth quarter valued at about $609,000. Bank of New York Mellon Corp raised its stake in shares of Robert Half by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,160,555 shares of the business services provider’s stock valued at $81,773,000 after purchasing an additional 94,125 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Robert Half by 103.3% during the fourth quarter. IFP Advisors Inc now owns 2,316 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Paradigm Asset Management Co. LLC raised its stake in shares of Robert Half by 738.9% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 15,100 shares of the business services provider’s stock valued at $1,064,000 after purchasing an additional 13,300 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Robert Half Trading Up 0.9 %

Shares of Robert Half stock opened at $58.99 on Friday. The company’s 50-day moving average price is $65.97 and its two-hundred day moving average price is $67.47. Robert Half Inc. has a 52 week low of $57.05 and a 52 week high of $83.25. The stock has a market cap of $6.03 billion, a PE ratio of 24.18 and a beta of 1.23.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. On average, equities analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Tuesday, February 25th. This is an increase from Robert Half’s previous quarterly dividend of $0.53. Robert Half’s payout ratio is presently 96.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RHI shares. Barclays upgraded shares of Robert Half from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. StockNews.com upgraded shares of Robert Half from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on shares of Robert Half from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Truist Financial upgraded shares of Robert Half from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. Finally, BNP Paribas upgraded shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price target on the stock in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Robert Half presently has an average rating of “Moderate Buy” and a consensus price target of $74.92.

Robert Half Profile

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.