Public Sector Pension Investment Board Purchases 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 position in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 25.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manchester Capital Management LLC raised its stake in Robert Half by 45.0% during the first quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock worth $45,000 after acquiring an additional 256 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Robert Half by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 44,483 shares of the business services provider's stock worth $3,134,000 after acquiring an additional 280 shares in the last quarter. Riverwater Partners LLC raised its stake in Robert Half by 10.0% during the first quarter. Riverwater Partners LLC now owns 5,007 shares of the business services provider's stock worth $273,000 after acquiring an additional 457 shares in the last quarter. Trust Point Inc. raised its stake in Robert Half by 8.2% during the first quarter. Trust Point Inc. now owns 6,488 shares of the business services provider's stock worth $354,000 after acquiring an additional 494 shares in the last quarter. Finally, GeoWealth Management LLC acquired a new position in Robert Half during the fourth quarter worth about $35,000. Institutional investors own 92.41% of the company's stock.

Robert Half Trading Up 0.2%

NYSE:RHI traded up $0.08 on Friday, reaching $36.33. 1,629,007 shares of the stock traded hands, compared to its average volume of 2,086,116. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 20.76 and a beta of 1.02. The company's 50 day moving average is $40.18 and its 200-day moving average is $47.77. Robert Half Inc. has a 1-year low of $33.18 and a 1-year high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The business services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. The business had revenue of $1.37 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. On average, equities research analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, August 25th. Robert Half's dividend payout ratio is presently 134.86%.

Analysts Set New Price Targets

Several brokerages have commented on RHI. BNP Paribas Exane downgraded Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price for the company. in a research note on Friday, May 2nd. Barclays lowered their target price on Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised Robert Half from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Truist Financial set a $55.00 price objective on Robert Half and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, BNP Paribas downgraded Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $45.83.

Robert Half Profile

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.