Nordea Investment Management AB Decreases Stock Position in Robert Half Inc. (NYSE:RHI)

Nordea Investment Management AB lessened its stake in shares of Robert Half Inc. (NYSE:RHI) by 12.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 31,498 shares of the business services provider’s stock after selling 4,677 shares during the period. Nordea Investment Management AB’s holdings in Robert Half were worth $2,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Robert Half during the 3rd quarter valued at $27,000. Private Trust Co. NA raised its holdings in Robert Half by 79.7% during the 3rd quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after buying an additional 192 shares during the period. Reston Wealth Management LLC bought a new position in Robert Half in the 3rd quarter valued at $34,000. GAMMA Investing LLC grew its position in Robert Half by 35.6% in the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 179 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Robert Half by 310.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 796 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 602 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Stock Down 2.7 %

Shares of NYSE:RHI opened at $65.63 on Friday. 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 $6.78 billion, a price-to-earnings ratio of 23.95 and a beta of 1.24. The business has a 50-day moving average price of $72.77 and a 200-day moving average price of $67.32.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. The company 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 18.78% and a net margin of 4.84%. Robert Half’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. As a group, equities analysts anticipate that Robert Half Inc. will post 2.45 EPS for the current fiscal year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.23%. The ex-dividend date was Monday, November 25th. Robert Half’s dividend payout ratio is currently 77.37%.

Insider Activity at Robert Half

In other Robert Half news, Director Dirk A. Kempthorne sold 1,032 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total value of $76,729.20. Following the sale, the director now directly owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. This trade represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RHI. Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $90.00 in a research report on Friday, December 13th. JPMorgan Chase & Co. dropped their price target on Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas downgraded Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price objective on the stock. in a research report on Monday, December 16th. Finally, Barclays raised Robert Half from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $60.00 to $80.00 in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Robert Half has an average rating of “Hold” and a consensus price target of $74.33.

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.