Rockefeller Capital Management L.P. Decreases Stock Holdings in Robert Half Inc. (NYSE:RHI)

Rockefeller Capital Management L.P. lowered its position in Robert Half Inc. (NYSE:RHI) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,371 shares of the business services provider’s stock after selling 296 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Robert Half were worth $835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RHI. Thrivent Financial for Lutherans increased its position in Robert Half by 27,895.0% during the second quarter. Thrivent Financial for Lutherans now owns 1,244,939 shares of the business services provider’s stock worth $79,652,000 after buying an additional 1,240,492 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of Robert Half by 28.9% during the third quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock valued at $315,569,000 after acquiring an additional 1,049,005 shares during the last quarter. AQR Capital Management LLC increased its position in Robert Half by 101.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,564,247 shares of the business services provider’s stock worth $99,439,000 after purchasing an additional 786,031 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Robert Half by 54.7% in the 2nd quarter. Pacer Advisors Inc. now owns 1,628,919 shares of the business services provider’s stock valued at $104,218,000 after purchasing an additional 575,879 shares in the last quarter. Finally, Miller Howard Investments Inc. NY acquired a new stake in shares of Robert Half during the 2nd quarter worth about $35,357,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their price objective on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Robert Half presently has an average rating of “Hold” and a consensus price target of $69.00.

Robert Half Stock Performance

Shares of NYSE:RHI opened at $75.19 on Tuesday. The stock has a 50-day simple moving average of $70.93 and a 200-day simple moving average of $66.16. The stock has a market capitalization of $7.76 billion, a P/E ratio of 27.44 and a beta of 1.24. Robert Half Inc. has a 1 year low of $57.05 and a 1 year high of $88.39.

Robert Half (NYSE:RHI) last issued its earnings results on Tuesday, October 22nd. The business services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. Analysts predict that Robert Half Inc. will post 2.45 earnings per share for the current year.

Robert Half Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, November 25th. Robert Half’s payout ratio is 77.37%.

Insider Activity

In other Robert Half news, Director Dirk A. Kempthorne sold 1,032 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $74.35, for a total value of $76,729.20. Following the completion of the transaction, the director now owns 12,310 shares in the company, valued at $915,248.50. This represents a 7.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

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.