Robert Half Inc. (NYSE:RHI) Shares Bought by M&T Bank Corp

M&T Bank Corp raised its stake in shares of Robert Half Inc. (NYSE:RHI) by 3.7% during the third quarter, HoldingsChannel reports. The firm owned 6,419 shares of the business services provider’s stock after purchasing an additional 227 shares during the quarter. M&T Bank Corp’s holdings in Robert Half were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Blue Trust Inc. increased its position in shares of 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 acquiring an additional 323 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Robert Half in the third quarter worth about $27,000. Private Trust Co. NA lifted its holdings in shares of Robert Half by 79.7% during the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock worth $29,000 after purchasing an additional 192 shares during the period. Reston Wealth Management LLC purchased a new stake in Robert Half in the third quarter valued at approximately $34,000. Finally, GAMMA Investing LLC increased its holdings in Robert Half by 35.6% in the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider’s stock worth $46,000 after buying an additional 179 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Insider Activity

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the transaction, the director now directly owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. This trade represents a 7.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RHI. Truist Financial upgraded shares of Robert Half from a “hold” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $90.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. cut their price target on Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, BNP Paribas cut Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price objective for the company. in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $71.00.

Robert Half Stock Down 3.7 %

NYSE:RHI opened at $71.38 on Thursday. Robert Half Inc. has a 52 week low of $57.05 and a 52 week high of $88.39. The stock’s 50-day moving average price is $71.94 and its 200-day moving average price is $66.57. The stock has a market capitalization of $7.37 billion, a PE ratio of 26.05 and a beta of 1.24.

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

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Monday, November 25th. Robert Half’s payout ratio is 77.37%.

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.