Cetera Investment Advisers Has $2.10 Million Position in Robert Half Inc. (NYSE:RHI)

Key Points

• Cetera Investment Advisers reduced its holdings in Robert Half Inc. by 25.5%, selling 13,193 shares and now owning 38,475 shares worth approximately $2.1 million.
• Robert Half Inc. reported $0.41 EPS for the quarter, exceeding analyst expectations, though revenue fell 7.0% year-over-year to $1.37 billion.
• The company announced a quarterly dividend of $0.59, reflecting a 6.9% yield, with the payout ratio standing at 134.86%.

Cetera Investment Advisers reduced its position in Robert Half Inc. (NYSE:RHI - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,475 shares of the business services provider's stock after selling 13,193 shares during the quarter. Cetera Investment Advisers' holdings in Robert Half were worth $2,099,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. GeoWealth Management LLC bought a new stake in shares of Robert Half during the 4th quarter valued at approximately $35,000. Orion Capital Management LLC bought a new stake in shares of Robert Half during the 4th quarter valued at approximately $41,000. CX Institutional bought a new stake in shares of Robert Half during the 1st quarter valued at approximately $33,000. Allworth Financial LP grew its holdings in shares of Robert Half by 80.4% during the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock valued at $80,000 after purchasing an additional 650 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Robert Half by 72.9% during the 1st quarter. Parallel Advisors LLC now owns 1,546 shares of the business services provider's stock valued at $84,000 after purchasing an additional 652 shares during the last quarter. 92.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RHI. Wall Street Zen raised shares of Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. BNP Paribas cut 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. Truist Financial set a $55.00 target price on shares of Robert Half and gave the stock a "buy" rating in a report on Thursday, April 24th. Barclays reduced their target price on shares of Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, BNP Paribas Exane lowered shares of 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $45.83.

Robert Half Stock Performance

Shares of NYSE RHI traded up $0.99 during midday trading on Tuesday, reaching $34.67. The stock had a trading volume of 355,490 shares, compared to its average volume of 1,702,645. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 19.82 and a beta of 1.02. Robert Half Inc. has a twelve month low of $33.18 and a twelve month high of $78.41. The company's 50 day moving average price is $40.85 and its 200 day moving average price is $48.41.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.35 billion. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The company's revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. Equities analysts forecast that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, August 25th will be given a $0.59 dividend. The ex-dividend date is Monday, August 25th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.8%. Robert Half's payout ratio is 134.86%.

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.