First Horizon Advisors Inc. Decreases Stock Position in Robert Half Inc. (NYSE:RHI)

First Horizon Advisors Inc. trimmed its position in shares of Robert Half Inc. (NYSE:RHI) by 59.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 423 shares of the business services provider’s stock after selling 620 shares during the quarter. First Horizon Advisors Inc.’s holdings in Robert Half were worth $29,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. grew its holdings 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 in the last quarter. Boston Partners grew its stake in Robert Half by 14.7% during the 1st quarter. Boston Partners now owns 3,749,749 shares of the business services provider’s stock valued at $296,963,000 after acquiring an additional 479,384 shares in the last quarter. Pacer Advisors Inc. raised 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 acquiring an additional 575,879 shares during the last quarter. AQR Capital Management LLC lifted its stake in Robert Half by 101.0% in 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. Finally, Dimensional Fund Advisors LP lifted its stake in Robert Half by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,542,502 shares of the business services provider’s stock worth $98,687,000 after purchasing an additional 231,129 shares in the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Robert Half Price Performance

NYSE:RHI opened at $75.80 on Tuesday. The company’s 50-day moving average is $69.08 and its two-hundred day moving average is $65.80. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 27.66 and a beta of 1.23. 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 quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. Robert Half had a return on equity of 18.78% and a net margin of 4.84%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Robert Half Inc. will post 2.45 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a $0.53 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.12 dividend on an annualized basis and a yield of 2.80%. Robert Half’s payout ratio is currently 77.37%.

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.