New Age Alpha Advisors LLC Has $799,000 Holdings in Robert Half Inc. (NYSE:RHI)

Key Points

• New Age Alpha Advisors LLC significantly increased its holdings in Robert Half Inc. by 192.7% during the first quarter, owning 14,652 shares worth approximately $799,000.
• Robert Half reported a $0.41 EPS surpassing analyst expectations, but revenue fell 7% year-over-year to $1.37 billion.
• The company announced a dividend of $0.59 per share, with a yield of 6.9%, indicating a high payout ratio of 134.86%.

New Age Alpha Advisors LLC increased its holdings in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 192.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,652 shares of the business services provider's stock after purchasing an additional 9,647 shares during the quarter. New Age Alpha Advisors LLC's holdings in Robert Half were worth $799,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. GeoWealth Management LLC bought a new position in shares of Robert Half during the 4th quarter worth approximately $35,000. Orion Capital Management LLC bought a new position in shares of Robert Half in the fourth quarter valued at $41,000. CX Institutional bought a new position in shares of Robert Half in the first quarter valued at $33,000. Manchester Capital Management LLC grew its stake in shares of Robert Half by 45.0% in the first quarter. Manchester Capital Management LLC now owns 825 shares of the business services provider's stock valued at $45,000 after buying an additional 256 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Robert Half by 80.4% in the first quarter. Allworth Financial LP now owns 1,458 shares of the business services provider's stock valued at $80,000 after buying an additional 650 shares in the last quarter. 92.41% of the stock is owned by institutional investors.

Robert Half Price Performance

Robert Half stock traded up $1.13 during mid-day trading on Tuesday, hitting $34.81. 1,928,230 shares of the company's stock traded hands, compared to its average volume of 1,713,176. Robert Half Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $78.41. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 19.89 and a beta of 1.02. The firm has a 50 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 posted its earnings results 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. Robert Half had a return on equity of 13.00% and a net margin of 3.20%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The company's revenue was down 7.0% on a year-over-year basis. On average, research analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RHI shares. Barclays decreased their target price on shares of 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. The Goldman Sachs Group decreased their target price on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a research note on Thursday, April 24th. 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. BNP Paribas downgraded 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. Finally, JPMorgan Chase & Co. cut their price target on Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, five have issued 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 an average 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.