Orion Portfolio Solutions LLC Acquires New Position in Robert Half Inc. (NYSE:RHI)

Orion Portfolio Solutions LLC bought a new position in shares of Robert Half Inc. (NYSE:RHI) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 3,904 shares of the business services provider’s stock, valued at approximately $263,000.

Other hedge funds have also bought and sold shares of the company. Mawer Investment Management Ltd. lifted 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 worth $315,569,000 after buying an additional 1,049,005 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Robert Half by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,285,008 shares of the business services provider’s stock worth $221,442,000 after acquiring an additional 159,750 shares during the last quarter. Pacer Advisors Inc. raised its stake 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 worth $104,218,000 after acquiring an additional 575,879 shares during the last quarter. AQR Capital Management LLC lifted 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 acquiring an additional 786,031 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Robert Half by 17.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,542,502 shares of the business services provider’s stock valued at $98,687,000 after purchasing an additional 231,129 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Robert Half Trading Down 0.6 %

Shares of RHI stock opened at $70.92 on Friday. Robert Half Inc. has a twelve month low of $57.05 and a twelve month high of $88.39. The stock has a market cap of $7.32 billion, a P/E ratio of 25.88 and a beta of 1.24. The stock has a 50 day moving average of $72.11 and a 200 day moving average of $66.64.

Robert Half (NYSE:RHI) last posted its earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, research analysts predict that Robert Half Inc. will post 2.45 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, December 13th. Stockholders of record on Monday, November 25th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Monday, November 25th. Robert Half’s payout ratio is currently 77.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RHI. Truist Financial upgraded Robert Half from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $90.00 in a research note on Friday, December 13th. JPMorgan Chase & Co. reduced their price target on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, BNP Paribas downgraded shares of Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 price objective on the stock. in a report on Monday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.00.

Insider Activity

In related news, Director Dirk A. Kempthorne sold 1,032 shares of Robert Half stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

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.