Charles Schwab Investment Management Inc. Sells 12,924 Shares of Robert Half Inc. (NYSE:RHI)

Charles Schwab Investment Management Inc. lowered its holdings in Robert Half Inc. (NYSE:RHI) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,621,758 shares of the business services provider’s stock after selling 12,924 shares during the period. Charles Schwab Investment Management Inc. owned about 2.48% of Robert Half worth $230,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Boston Partners grew its position in shares of Robert Half by 61.5% in the 3rd quarter. Boston Partners now owns 2,395,745 shares of the business services provider’s stock valued at $175,400,000 after acquiring an additional 911,969 shares during the period. Northern Trust Corp lifted its stake in shares of Robert Half by 10.1% during the 3rd quarter. Northern Trust Corp now owns 1,792,144 shares of the business services provider’s stock worth $131,328,000 after buying an additional 164,517 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Robert Half by 8.6% during the 3rd quarter. Invesco Ltd. now owns 1,706,986 shares of the business services provider’s stock worth $125,088,000 after buying an additional 135,664 shares during the last quarter. Mawer Investment Management Ltd. acquired a new stake in shares of Robert Half during the 3rd quarter worth about $106,840,000. Finally, Wellington Management Group LLP lifted its stake in shares of Robert Half by 2.3% during the 3rd quarter. Wellington Management Group LLP now owns 1,050,091 shares of the business services provider’s stock worth $76,951,000 after buying an additional 23,377 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Robert Half Price Performance

RHI opened at $70.13 on Thursday. Robert Half Inc. has a fifty-two week low of $64.65 and a fifty-two week high of $88.39. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 3.30 and a beta of 1.30. The company’s 50 day moving average price is $75.32 and its two-hundred day moving average price is $79.07.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Robert Half had a net margin of 5.74% and a return on equity of 22.36%. The company’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, equities research analysts predict that Robert Half Inc. will post 2.98 EPS for the current year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.02%. Robert Half’s dividend payout ratio (DPR) is currently 63.47%.

Insider Activity at Robert Half

In related news, EVP Robert W. Glass sold 7,500 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were 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 in the company, valued at approximately $14,970,548.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RHI. BMO Capital Markets cut their target price on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Truist Financial upgraded shares of Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price objective for the company in a research note on Monday, April 22nd. Finally, Robert W. Baird dropped their price objective on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.14.

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.