Crestline Management LP Buys New Shares in Robert Half Inc. (NYSE:RHI)

Crestline Management LP purchased a new position in Robert Half Inc. (NYSE:RHI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 25,297 shares of the business services provider's stock, valued at approximately $1,782,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Robert Half by 613.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider's stock worth $25,000 after buying an additional 313 shares during the period. Headlands Technologies LLC purchased a new position in shares of Robert Half in the fourth quarter worth about $26,000. Signaturefd LLC raised its position in Robert Half by 121.3% during the 4th quarter. Signaturefd LLC now owns 436 shares of the business services provider's stock valued at $31,000 after purchasing an additional 239 shares during the last quarter. Eastern Bank bought a new position in Robert Half during the 4th quarter valued at approximately $35,000. Finally, GeoWealth Management LLC bought a new stake in Robert Half during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 92.41% of the company's stock.

Robert Half Stock Down 0.8%

NYSE:RHI traded down $0.39 on Tuesday, reaching $47.80. 188,285 shares of the company's stock traded hands, compared to its average volume of 1,491,896. The stock has a 50-day simple moving average of $49.54 and a 200-day simple moving average of $62.00. The firm has a market cap of $4.88 billion, a PE ratio of 19.59 and a beta of 1.06. Robert Half Inc. has a 12 month low of $40.00 and a 12 month high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.19). The firm had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.41 billion. Robert Half had a net margin of 4.34% and a return on equity of 17.20%. The company's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, equities analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a $0.59 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.94%. Robert Half's payout ratio is 118.00%.

Analysts Set New Price Targets

Several analysts have weighed in on RHI shares. BNP Paribas Exane cut Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research report on Friday, May 2nd. JPMorgan Chase & Co. lowered their price objective on Robert Half from $65.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group lowered their price target on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Thursday, April 24th. StockNews.com downgraded shares of Robert Half from a "buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, Barclays decreased their target price on Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $48.71.

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.