Public Sector Pension Investment Board Buys 65,611 Shares of Robert Half Inc. (NYSE:RHI)

Key Points

• The Public Sector Pension Investment Board increased its stake in Robert Half Inc. by 25.9% during the first quarter, purchasing an additional 65,611 shares to bring its total holdings to 318,511 shares valued at $17.4 million.
• Robert Half recently announced a quarterly dividend of $0.59 per share, translating to an annualized dividend of $2.36 and a yield of 7.0%.
• Analysts have varied views on Robert Half's stock, with price targets ranging from $40.00 to $55.00, while the consensus rating is a "Hold" with an average target of $45.83.

Public Sector Pension Investment Board increased its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 318,511 shares of the business services provider's stock after purchasing an additional 65,611 shares during the quarter. Public Sector Pension Investment Board owned 0.31% of Robert Half worth $17,375,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GeoWealth Management LLC bought a new position in shares of Robert Half during the 4th quarter valued at approximately $35,000. Orion Capital Management LLC bought a new position in Robert Half in the 4th quarter valued at $41,000. CX Institutional bought a new position in Robert Half in the 1st quarter valued at $33,000. Manchester Capital Management LLC grew its position in Robert Half by 45.0% in the 1st quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after acquiring an additional 256 shares during the last quarter. Finally, Allworth Financial LP grew its position in Robert Half by 80.4% in the 1st quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock valued at $80,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 92.41% of the company's stock.

Robert Half Trading Down 1.7%

Shares of RHI stock opened at $33.63 on Tuesday. Robert Half Inc. has a twelve month low of $33.18 and a twelve month high of $78.41. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 19.21 and a beta of 1.02. The stock has a fifty day simple moving average of $40.85 and a two-hundred day simple moving average of $48.41.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.35 billion. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The firm's quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. Research analysts predict 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 will be paid on Monday, September 15th. Investors of record on Monday, August 25th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Monday, August 25th. Robert Half's dividend payout ratio is 134.86%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group cut their price objective on Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. Barclays cut their price objective on Robert Half from $50.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their price objective on Robert Half from $47.00 to $45.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Truist Financial set a $55.00 price objective on Robert Half and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Robert Half has an average rating of "Hold" and a consensus price target of $45.83.

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.

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