Canada Pension Plan Investment Board Has $2.79 Million Position in Robert Half Inc. (NYSE:RHI)

Canada Pension Plan Investment Board raised its stake in Robert Half Inc. (NYSE:RHI) by 28.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,625 shares of the business services provider’s stock after acquiring an additional 9,625 shares during the period. Canada Pension Plan Investment Board’s holdings in Robert Half were worth $2,791,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new position in Robert Half in the first quarter valued at about $26,000. Blue Trust Inc. increased its holdings in Robert Half by 489.4% in the 2nd 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 period. Versant Capital Management Inc bought a new stake in shares of Robert Half during the 2nd quarter worth approximately $35,000. Parallel Advisors LLC boosted its position in shares of Robert Half by 55.7% during the 4th quarter. Parallel Advisors LLC now owns 646 shares of the business services provider’s stock worth $57,000 after acquiring an additional 231 shares in the last quarter. Finally, Family Firm Inc. bought a new position in Robert Half in the second quarter valued at approximately $45,000. 92.41% of the stock is currently owned by institutional investors.

Robert Half Trading Up 2.1 %

Shares of RHI stock opened at $67.35 on Friday. The firm has a market capitalization of $7.07 billion, a price-to-earnings ratio of 20.16 and a beta of 1.23. The business’s 50-day moving average price is $63.00 and its 200-day moving average price is $67.27. Robert Half Inc. has a 12 month low of $57.05 and a 12 month high of $88.39.

Robert Half (NYSE:RHI) last announced its earnings results on Wednesday, July 24th. The business services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. On average, sell-side analysts predict that Robert Half Inc. will post 2.51 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend was Friday, August 23rd. Robert Half’s dividend payout ratio is presently 63.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Robert Half from $74.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Truist Financial lowered their price target on Robert Half from $72.00 to $62.00 and set a “hold” rating for the company in a report on Friday, July 26th. StockNews.com lowered Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. BNP Paribas raised shares of Robert Half from an “underperform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Tuesday, June 11th. Finally, Barclays reduced their price target on shares of Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $67.86.

Insiders Place Their Bets

In other news, Director Dirk A. Kempthorne sold 1,300 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $63.09, for a total value of $82,017.00. Following the sale, the director now directly owns 13,342 shares of the company’s stock, valued at approximately $841,746.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.00% of the company’s stock.

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.