JLB & Associates Inc. Decreases Holdings in Robert Half Inc. (NYSE:RHI)

JLB & Associates Inc. reduced its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 77.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,053 shares of the business services provider's stock after selling 34,428 shares during the quarter. JLB & Associates Inc.'s holdings in Robert Half were worth $548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mawer Investment Management Ltd. raised its stake in Robert Half by 72.6% in the 4th quarter. Mawer Investment Management Ltd. now owns 8,079,597 shares of the business services provider's stock valued at $569,288,000 after purchasing an additional 3,398,257 shares during the last quarter. Boston Partners grew its holdings in shares of Robert Half by 17.5% during the fourth quarter. Boston Partners now owns 8,554,276 shares of the business services provider's stock worth $602,867,000 after buying an additional 1,271,237 shares in the last quarter. Norges Bank acquired a new position in shares of Robert Half in the fourth quarter valued at approximately $60,257,000. Balyasny Asset Management L.P. raised its position in shares of Robert Half by 5,172.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 693,394 shares of the business services provider's stock valued at $48,857,000 after buying an additional 680,242 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Robert Half by 293.3% during the fourth quarter. Wellington Management Group LLP now owns 831,359 shares of the business services provider's stock valued at $58,578,000 after buying an additional 619,982 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Stock Down 2.5%

Shares of RHI stock traded down $1.04 on Friday, reaching $40.31. 5,448,228 shares of the stock were exchanged, compared to its average volume of 1,565,539. Robert Half Inc. has a 1-year low of $39.98 and a 1-year high of $78.41. The stock has a market cap of $4.12 billion, a P/E ratio of 20.15 and a beta of 1.04. The firm has a 50 day moving average of $45.35 and a two-hundred day moving average of $56.74.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.41 billion. Robert Half had a return on equity of 14.54% and a net margin of 3.62%. The business's revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, equities research analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.36 annualized dividend and a yield of 5.86%. Robert Half's payout ratio is 118.00%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial set a $55.00 price target on Robert Half and gave the company a "buy" rating in a report on Thursday, April 24th. Barclays lowered their price objective on Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. reduced their target price 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. Finally, BNP Paribas Exane cut Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target for the company. in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.