Allspring Global Investments Holdings LLC Reduces Position in Robert Half Inc. (NYSE:RHI)

Allspring Global Investments Holdings LLC cut its holdings in shares of Robert Half Inc. (NYSE:RHI) by 34.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,133 shares of the business services provider’s stock after selling 2,135 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Robert Half were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vest Financial LLC lifted its holdings in shares of Robert Half by 31.5% in the third quarter. Vest Financial LLC now owns 22,616 shares of the business services provider’s stock worth $1,525,000 after buying an additional 5,413 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in shares of Robert Half by 12.6% in the third quarter. Resonant Capital Advisors LLC now owns 15,459 shares of the business services provider’s stock worth $1,042,000 after buying an additional 1,728 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Robert Half by 56.5% in the third quarter. Raymond James & Associates now owns 180,553 shares of the business services provider’s stock worth $12,171,000 after buying an additional 65,182 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Robert Half by 225.2% in the third quarter. Blue Trust Inc. now owns 1,265 shares of the business services provider’s stock worth $81,000 after buying an additional 876 shares in the last quarter. Finally, Claro Advisors LLC purchased a new stake in shares of Robert Half in the third quarter worth about $814,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Robert Half Price Performance

Shares of NYSE RHI opened at $67.57 on Friday. Robert Half Inc. has a one year low of $57.05 and a one year high of $88.39. The firm’s 50 day simple moving average is $65.63 and its two-hundred day simple moving average is $65.47. The stock has a market capitalization of $7.03 billion, a P/E ratio of 24.66 and a beta of 1.23.

Robert Half (NYSE:RHI) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business earned $0.90 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. As a group, equities analysts expect that Robert Half Inc. will post 2.46 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on RHI. JPMorgan Chase & Co. lowered their target price on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets lowered their target price on shares of Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a research note on Thursday, July 25th. Barclays lowered their target price 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, Truist Financial lowered their target price on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.71.

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.