Quest Partners LLC Reduces Stock Holdings in Robert Half Inc. (NYSE:RHI)

Quest Partners LLC cut its stake in shares of Robert Half Inc. (NYSE:RHI) by 91.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,896 shares of the business services provider’s stock after selling 42,420 shares during the period. Quest Partners LLC’s holdings in Robert Half were worth $263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Robert Half by 35.6% during the third quarter. GAMMA Investing LLC now owns 682 shares of the business services provider’s stock worth $46,000 after purchasing an additional 179 shares in the last quarter. Isthmus Partners LLC boosted its position in Robert Half by 3.3% in the 2nd quarter. Isthmus Partners LLC now owns 7,079 shares of the business services provider’s stock valued at $453,000 after buying an additional 229 shares during the last quarter. Wahed Invest LLC grew its stake in shares of Robert Half by 13.7% during the first quarter. Wahed Invest LLC now owns 1,998 shares of the business services provider’s stock valued at $158,000 after acquiring an additional 240 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Robert Half by 7.3% during the second quarter. Farther Finance Advisors LLC now owns 4,134 shares of the business services provider’s stock worth $263,000 after acquiring an additional 281 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Robert Half by 0.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 30,957 shares of the business services provider’s stock worth $2,087,000 after acquiring an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price objective on Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Robert Half presently has a consensus rating of “Hold” and a consensus price target of $69.00.

Robert Half Stock Performance

NYSE:RHI opened at $74.70 on Wednesday. The stock has a 50-day simple moving average of $69.33 and a 200 day simple moving average of $65.84. Robert Half Inc. has a one year low of $57.05 and a one year high of $88.39. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 27.26 and a beta of 1.23.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.44 billion. Robert Half had a return on equity of 18.78% and a net margin of 4.84%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. On average, equities research analysts forecast that Robert Half Inc. will post 2.45 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a $0.53 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.84%. Robert Half’s payout ratio is currently 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.