EverSource Wealth Advisors LLC Sells 317 Shares of Robert Half Inc. (NYSE:RHI)

EverSource Wealth Advisors LLC lowered its stake in Robert Half Inc. (NYSE:RHI) by 27.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 834 shares of the business services provider’s stock after selling 317 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Robert Half were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Qsemble Capital Management LP purchased a new stake in shares of Robert Half during the first quarter worth about $1,454,000. UniSuper Management Pty Ltd grew its holdings in Robert Half by 671.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,341 shares of the business services provider’s stock valued at $978,000 after buying an additional 10,741 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Robert Half by 10.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 122,356 shares of the business services provider’s stock valued at $9,700,000 after buying an additional 11,124 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of Robert Half by 167.3% in the first quarter. iA Global Asset Management Inc. now owns 21,414 shares of the business services provider’s stock worth $1,698,000 after buying an additional 13,404 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Robert Half by 40.5% during the first quarter. BNP Paribas Financial Markets now owns 108,570 shares of the business services provider’s stock worth $8,607,000 after acquiring an additional 31,300 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Robert Half Stock Performance

Shares of Robert Half stock opened at $67.37 on Friday. The stock has a 50 day moving average price of $63.03 and a 200-day moving average price of $67.18. Robert Half Inc. has a one year low of $57.05 and a one year high of $88.39. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 20.17 and a beta of 1.23.

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

Robert Half Announces Dividend

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

Insider Transactions at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,300 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 13,342 shares in the company, valued at approximately $841,746.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.