Robert Half Inc. $RHI Stock: Kestra Investment Management LLC Reduces Holdings

Kestra Investment Management LLC trimmed its stake in Robert Half Inc. (NYSE:RHI) by 12.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,848 shares of the business services provider’s stock after selling 12,331 shares during the quarter. Kestra Investment Management LLC owned 0.08% of Robert Half worth $3,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. MGO One Seven LLC grew its position in Robert Half by 2.0% during the third quarter. MGO One Seven LLC now owns 13,924 shares of the business services provider’s stock valued at $512,000 after purchasing an additional 275 shares in the last quarter. Basecamp Wealth Advisors LLC lifted its position in Robert Half by 19.4% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 2,164 shares of the business services provider’s stock worth $55,000 after buying an additional 351 shares in the last quarter. Altar Rock LLC lifted its position in Robert Half by 4.0% in the 2nd quarter. Altar Rock LLC now owns 9,554 shares of the business services provider’s stock worth $293,000 after buying an additional 365 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in Robert Half by 35.4% in the 3rd quarter. Elevation Wealth Partners LLC now owns 1,538 shares of the business services provider’s stock worth $57,000 after buying an additional 402 shares in the last quarter. Finally, Unison Advisors LLC boosted its stake in shares of Robert Half by 1.8% during the 3rd quarter. Unison Advisors LLC now owns 28,378 shares of the business services provider’s stock valued at $1,043,000 after buying an additional 507 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Robert Half Stock Performance

NYSE:RHI opened at $42.12 on Tuesday. The company has a market capitalization of $4.31 billion, a P/E ratio of 34.81 and a beta of 0.76. The stock’s 50 day moving average price is $38.60 and its 200 day moving average price is $32.69. Robert Half Inc. has a 52 week low of $21.83 and a 52 week high of $47.14.

Robert Half (NYSE:RHI) last posted its earnings results on Thursday, October 22nd. The business services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Robert Half had a net margin of 2.30% and a return on equity of 9.89%. The company’s revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, sell-side analysts forecast that Robert Half Inc. will post 1.29 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, November 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.6%. Robert Half’s dividend payout ratio (DPR) is currently 195.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on RHI shares. Robert W. Baird set a $53.00 price target on shares of Robert Half in a report on Friday, October 23rd. Barclays increased their price objective on Robert Half from $25.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, October 26th. BMO Capital Markets lifted their price objective on Robert Half from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. JPMorgan Chase & Co. lifted their price objective on Robert Half from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Finally, The Goldman Sachs Group boosted their target price on Robert Half from $29.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, October 23rd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Robert Half presently has a consensus rating of “Hold” and a consensus price target of $40.75.

Robert Half Company Profile

Robert Half, Inc is a global talent solutions company that provides staffing and recruitment services to businesses and job seekers. It places professionals in temporary, project-based and permanent roles, with expertise in fields including finance and accounting, technology, marketing and creative, legal, and administrative support.

The company also provides business and technology consulting through Protiviti, its consulting subsidiary. Protiviti advises organizations on areas such as risk management, internal audit, compliance, cybersecurity, technology and business performance.

Founded in 1948, Robert Half serves clients through offices and operations in North America, South America, Europe and the Asia-Pacific region.