Grimes & Company Inc. Grows Position in Robert Half Inc. (NYSE:RHI)

Grimes & Company Inc. increased its position in shares of Robert Half Inc. (NYSE:RHI) by 8.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 277,775 shares of the business services provider’s stock after buying an additional 20,886 shares during the period. Grimes & Company Inc.’s holdings in Robert Half were worth $15,153,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in shares of Robert Half by 11.3% during the fourth quarter. Quadrant Capital Group LLC now owns 2,155 shares of the business services provider’s stock worth $152,000 after buying an additional 218 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Robert Half by 39.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the business services provider’s stock valued at $55,000 after buying an additional 220 shares in the last quarter. Signaturefd LLC raised its stake in Robert Half by 121.3% in the fourth quarter. Signaturefd LLC now owns 436 shares of the business services provider’s stock valued at $31,000 after buying an additional 239 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Robert Half by 48.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 794 shares of the business services provider’s stock valued at $56,000 after buying an additional 258 shares in the last quarter. Finally, Isthmus Partners LLC raised its stake in Robert Half by 3.3% in the fourth quarter. Isthmus Partners LLC now owns 8,176 shares of the business services provider’s stock valued at $576,000 after buying an additional 264 shares in the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BNP Paribas cut Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday, May 2nd. Truist Financial set a $55.00 price target on Robert Half and gave the company a “buy” rating in a research note on Thursday, April 24th. BNP Paribas Exane cut Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 price target on the stock. in a research note on Friday, May 2nd. JPMorgan Chase & Co. cut their price target on Robert Half from $65.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, Barclays cut their price target on Robert Half from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Robert Half has an average rating of “Hold” and a consensus price target of $48.71.

Robert Half Stock Performance

RHI opened at $43.19 on Tuesday. The business’s 50-day simple moving average is $45.89 and its 200-day simple moving average is $57.18. Robert Half Inc. has a one year low of $40.00 and a one year high of $78.41. The stock has a market capitalization of $4.41 billion, a P/E ratio of 17.70 and a beta of 1.04.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.19). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.41 billion. Robert Half had a net margin of 4.34% and a return on equity of 17.20%. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. On average, equities research analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 5.46%. The ex-dividend date was Friday, May 23rd. Robert Half’s dividend payout ratio (DPR) is presently 118.00%.

Robert Half 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.