Readystate Asset Management LP Boosts Stock Holdings in Robert Half Inc. (NYSE:RHI)

Readystate Asset Management LP lifted its stake in shares of Robert Half Inc. (NYSE:RHI) by 24.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,098 shares of the business services provider’s stock after acquiring an additional 3,398 shares during the quarter. Readystate Asset Management LP’s holdings in Robert Half were worth $1,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of RHI. Moneta Group Investment Advisors LLC increased its holdings in Robert Half by 116,277.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,941,582 shares of the business services provider’s stock valued at $586,327,000 after buying an additional 7,934,758 shares during the last quarter. Capital World Investors purchased a new position in Robert Half in the first quarter valued at $636,060,000. Millennium Management LLC increased its holdings in Robert Half by 2,249.5% in the fourth quarter. Millennium Management LLC now owns 1,597,852 shares of the business services provider’s stock valued at $117,969,000 after buying an additional 1,529,845 shares during the last quarter. Mawer Investment Management Ltd. purchased a new position in Robert Half in the third quarter valued at $106,840,000. Finally, Morgan Stanley increased its holdings in Robert Half by 74.8% in the third quarter. Morgan Stanley now owns 2,739,964 shares of the business services provider’s stock valued at $200,785,000 after buying an additional 1,172,351 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Stock Performance

Shares of RHI stock traded down $1.39 during mid-day trading on Wednesday, hitting $69.31. 1,199,167 shares of the stock were exchanged, compared to its average volume of 1,025,142. The stock’s fifty day simple moving average is $78.45 and its two-hundred day simple moving average is $79.59. The stock has a market capitalization of $7.29 billion, a price-to-earnings ratio of 17.91, a P/E/G ratio of 17.59 and a beta of 1.26. Robert Half Inc. has a 12-month low of $64.65 and a 12-month high of $88.39.

Robert Half (NYSE:RHI) last issued its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. Robert Half had a return on equity of 25.73% and a net margin of 6.43%. The business’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 earnings per share. On average, research analysts expect that Robert Half Inc. will post 3.34 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.06%. This is a positive change from Robert Half’s previous quarterly dividend of $0.48. Robert Half’s dividend payout ratio (DPR) is currently 54.78%.

Insider Buying and Selling

In related news, EVP Robert W. Glass sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $80.46, for a total transaction of $603,450.00. Following the transaction, the executive vice president now owns 186,062 shares of the company’s stock, valued at $14,970,548.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. BMO Capital Markets dropped their target price on Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a report on Wednesday, January 31st. Truist Financial raised their price objective on Robert Half from $66.00 to $72.00 and gave the stock a “sell” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.57.

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 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.