Reston Wealth Management LLC Buys New Shares in Robert Half Inc. (NYSE:RHI)

Reston Wealth Management LLC purchased a new position in shares of Robert Half Inc. (NYSE:RHI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 500 shares of the business services provider’s stock, valued at approximately $34,000.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Robert Half by 60.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,471 shares of the business services provider’s stock worth $1,306,000 after purchasing an additional 6,187 shares during the period. Commonwealth Equity Services LLC lifted its stake in Robert Half by 102.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,545 shares of the business services provider’s stock valued at $1,074,000 after acquiring an additional 6,858 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Robert Half by 77.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,873 shares of the business services provider’s stock valued at $5,313,000 after acquiring an additional 29,537 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Robert Half by 40.5% in the first quarter. BNP Paribas Financial Markets now owns 108,570 shares of the business services provider’s stock worth $8,607,000 after acquiring an additional 31,300 shares during the period. Finally, Capstone Investment Advisors LLC raised its holdings in shares of Robert Half by 15,128.2% during the first quarter. Capstone Investment Advisors LLC now owns 19,687 shares of the business services provider’s stock worth $1,561,000 after purchasing an additional 19,818 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Robert Half Price Performance

Shares of RHI stock opened at $67.57 on Friday. Robert Half Inc. has a 1-year low of $57.05 and a 1-year high of $88.39. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 24.66 and a beta of 1.23. The stock has a 50 day simple moving average of $65.55 and a 200-day simple moving average of $65.49.

Robert Half (NYSE:RHI) last posted its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts anticipate that Robert Half Inc. will post 2.46 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, November 25th. Robert Half’s payout ratio is 77.37%.

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.