Algert Global LLC Takes $677,000 Position in Robert Half Inc. (NYSE:RHI)

Algert Global LLC bought a new position in shares of Robert Half Inc. (NYSE:RHI) in the 2nd quarter, Holdings Channel reports. The fund bought 10,586 shares of the business services provider’s stock, valued at approximately $677,000.

Other hedge funds have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. boosted its holdings in shares of Robert Half by 105.4% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock worth $289,818,000 after buying an additional 1,875,476 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Robert Half by 27,895.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,244,939 shares of the business services provider’s stock worth $79,652,000 after purchasing an additional 1,240,492 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Robert Half by 101.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider’s stock valued at $99,439,000 after buying an additional 786,031 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Robert Half by 900.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 834,447 shares of the business services provider’s stock valued at $66,155,000 after buying an additional 751,049 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Robert Half by 54.7% during the 2nd quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock worth $104,218,000 after buying an additional 575,879 shares during the period. 92.41% of the stock is currently owned by institutional investors.

Robert Half Stock Performance

Robert Half stock opened at $66.62 on Friday. The firm’s 50-day simple moving average is $63.36 and its 200 day simple moving average is $66.66. Robert Half Inc. has a fifty-two week low of $57.05 and a fifty-two week high of $88.39. The stock has a market cap of $6.99 billion, a PE ratio of 19.95 and a beta of 1.23.

Robert Half (NYSE:RHI) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.05). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. Robert Half’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. As a group, analysts predict that Robert Half Inc. will post 2.51 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.53 per share. The ex-dividend date was Friday, August 23rd. This represents a $2.12 dividend on an annualized basis and a yield of 3.18%. Robert Half’s payout ratio is 63.47%.

Insider Buying and Selling at Robert Half

In other news, Director Dirk A. Kempthorne sold 1,300 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $63.09, for a total value of $82,017.00. Following the completion of the transaction, the director now directly owns 13,342 shares of the company’s stock, valued at $841,746.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on RHI. BNP Paribas raised Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, June 11th. JPMorgan Chase & Co. decreased their price target on shares of Robert Half from $74.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. StockNews.com lowered shares of Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Truist Financial decreased their target price on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a research report on Friday, July 26th. Finally, Barclays dropped their price target on shares of Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.86.

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.