State of Michigan Retirement System Cuts Position in Robert Half Inc. (NYSE:RHI)

State of Michigan Retirement System lessened its holdings in Robert Half Inc. (NYSE:RHI) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,492 shares of the business services provider’s stock after selling 500 shares during the period. State of Michigan Retirement System’s holdings in Robert Half were worth $2,417,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Robert Half by 35.1% in the 4th quarter. Franklin Resources Inc. now owns 253,968 shares of the business services provider’s stock worth $22,329,000 after purchasing an additional 66,049 shares during the period. Twin Capital Management Inc. raised its holdings in shares of Robert Half by 38.7% in the 4th quarter. Twin Capital Management Inc. now owns 7,700 shares of the business services provider’s stock worth $677,000 after purchasing an additional 2,148 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Robert Half by 34.0% in the 4th quarter. Mackenzie Financial Corp now owns 53,265 shares of the business services provider’s stock worth $4,683,000 after purchasing an additional 13,503 shares during the period. Nordea Investment Management AB raised its holdings in shares of Robert Half by 68.1% in the 4th quarter. Nordea Investment Management AB now owns 46,632 shares of the business services provider’s stock worth $4,092,000 after purchasing an additional 18,892 shares during the period. Finally, Boston Partners raised its holdings in shares of Robert Half by 36.5% in the 4th quarter. Boston Partners now owns 3,270,365 shares of the business services provider’s stock worth $287,265,000 after purchasing an additional 874,620 shares during the period. Institutional investors own 92.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Dirk A. Kempthorne sold 2,221 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $69.66, for a total value of $154,714.86. Following the completion of the transaction, the director now directly owns 10,713 shares in the company, valued at $746,267.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RHI shares. Truist Financial raised shares of Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a report on Monday, April 22nd. StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a report on Monday, June 24th. Robert W. Baird lowered their target price on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, BNP Paribas raised shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.71.

Robert Half Price Performance

RHI opened at $63.67 on Thursday. The company has a fifty day moving average price of $66.54 and a 200-day moving average price of $75.25. The firm has a market capitalization of $6.68 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 5.22 and a beta of 1.25. Robert Half Inc. has a one year low of $61.07 and a one year high of $88.39.

Robert Half (NYSE:RHI) last released its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Robert Half had a net margin of 5.74% and a return on equity of 22.36%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the business earned $1.14 EPS. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. On average, analysts expect that Robert Half Inc. will post 2.92 earnings per share for the current year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.12 annualized dividend and a yield of 3.33%. Robert Half’s dividend payout ratio (DPR) is presently 63.47%.

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.