Bank of New York Mellon Corp Lowers Stock Position in Robert Half Inc. (NYSE:RHI)

Bank of New York Mellon Corp cut its holdings in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,071,999 shares of the business services provider's stock after selling 88,556 shares during the period. Bank of New York Mellon Corp owned 1.05% of Robert Half worth $58,478,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Robert Half by 613.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider's stock valued at $25,000 after purchasing an additional 313 shares in the last quarter. Headlands Technologies LLC bought a new stake in Robert Half in the fourth quarter worth $26,000. Signaturefd LLC boosted its holdings in Robert Half by 121.3% in the fourth quarter. Signaturefd LLC now owns 436 shares of the business services provider's stock worth $31,000 after acquiring an additional 239 shares in the last quarter. GeoWealth Management LLC bought a new stake in Robert Half in the fourth quarter worth $35,000. Finally, Orion Capital Management LLC bought a new stake in Robert Half in the fourth quarter worth $41,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Robert Half Price Performance

Robert Half stock traded down $0.92 during mid-day trading on Friday, reaching $42.01. 1,024,922 shares of the stock traded hands, compared to its average volume of 1,405,496. The stock has a market capitalization of $4.29 billion, a PE ratio of 21.00 and a beta of 1.00. Robert Half Inc. has a 12-month low of $39.61 and a 12-month high of $78.41. The business's 50-day moving average is $44.02 and its 200-day moving average is $53.11.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.19). Robert Half had a return on equity of 14.54% and a net margin of 3.62%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the business earned $0.61 EPS. The firm's quarterly revenue was down 8.4% compared to the same quarter last year. Equities analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.62%. Robert Half's payout ratio is currently 118.00%.

Wall Street Analysts Forecast Growth

RHI has been the topic of several analyst reports. BNP Paribas Exane downgraded Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price on the stock. in a report on Friday, May 2nd. JPMorgan Chase & Co. dropped their target price on Robert Half from $65.00 to $47.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Barclays dropped 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. The Goldman Sachs Group dropped their target price on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a report on Thursday, April 24th. Finally, BNP Paribas downgraded Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target on the stock. in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.