Pacer Advisors Inc. Acquires 575,879 Shares of Robert Half Inc. (NYSE:RHI)

Pacer Advisors Inc. boosted its holdings in Robert Half Inc. (NYSE:RHI) by 54.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,628,919 shares of the business services provider’s stock after purchasing an additional 575,879 shares during the quarter. Pacer Advisors Inc.’s holdings in Robert Half were worth $104,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its stake in Robert Half by 489.4% during the second quarter. Blue Trust Inc. now owns 389 shares of the business services provider’s stock valued at $25,000 after buying an additional 323 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Robert Half in the 1st quarter worth about $26,000. Versant Capital Management Inc bought a new position in Robert Half in the 2nd quarter worth about $35,000. Family Firm Inc. purchased a new stake in Robert Half during the 2nd quarter valued at about $45,000. Finally, Parallel Advisors LLC increased its stake in Robert Half by 55.7% during the 4th quarter. Parallel Advisors LLC now owns 646 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 231 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Robert Half from $74.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Truist Financial decreased their price target on Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a research note on Friday, July 26th. BMO Capital Markets dropped their price objective on Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a research report on Thursday, July 25th. BNP Paribas upgraded shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Tuesday, June 11th. Finally, StockNews.com lowered shares of Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Robert Half has an average rating of “Hold” and a consensus target price of $67.86.

Insider Buying and Selling

In other Robert Half news, Director Dirk A. Kempthorne sold 1,300 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $63.09, for a total transaction of $82,017.00. Following the sale, the director now directly owns 13,342 shares in the company, valued at $841,746.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.

Robert Half Price Performance

RHI stock opened at $66.80 on Friday. Robert Half Inc. has a 1-year low of $57.05 and a 1-year high of $88.39. The business has a 50 day simple moving average of $62.89 and a two-hundred day simple moving average of $67.61. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 5.98 and a beta of 1.23.

Robert Half (NYSE:RHI) last issued its earnings results on Wednesday, July 24th. The business services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. During the same quarter in the prior year, the company posted $1.00 EPS. Robert Half’s revenue was down 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Robert Half Inc. will post 2.52 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $2.12 annualized dividend and a yield of 3.17%. Robert Half’s dividend payout ratio is currently 63.47%.

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.