Envestnet Asset Management Inc. Sells 48,953 Shares of Robert Half Inc. (NYSE:RHI)

Envestnet Asset Management Inc. cut its holdings in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 33.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,764 shares of the business services provider's stock after selling 48,953 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Robert Half worth $5,333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RHI. Principal Financial Group Inc. increased its holdings in shares of Robert Half by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 498,617 shares of the business services provider's stock valued at $27,200,000 after acquiring an additional 6,844 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Robert Half by 8.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 17,081 shares of the business services provider's stock valued at $932,000 after acquiring an additional 1,300 shares during the last quarter. Capital Investment Counsel Inc increased its holdings in shares of Robert Half by 16.8% in the 1st quarter. Capital Investment Counsel Inc now owns 3,745 shares of the business services provider's stock valued at $204,000 after acquiring an additional 540 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Robert Half by 311.1% in the 1st quarter. Teacher Retirement System of Texas now owns 113,733 shares of the business services provider's stock valued at $6,204,000 after acquiring an additional 86,065 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in shares of Robert Half by 1.7% in the 1st quarter. WCM Investment Management LLC now owns 64,696 shares of the business services provider's stock valued at $3,486,000 after acquiring an additional 1,082 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BNP Paribas lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research report on Friday, May 2nd. 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. The Goldman Sachs Group reduced their price objective on Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a research report on Thursday, April 24th. BNP Paribas Exane lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research report on Friday, May 2nd. Finally, Barclays reduced 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $45.83.

Robert Half Trading Down 0.7%

NYSE:RHI traded down $0.26 during mid-day trading on Monday, hitting $39.55. 1,431,575 shares of the company's stock traded hands, compared to its average volume of 2,169,190. The firm has a 50 day moving average of $42.91 and a two-hundred day moving average of $50.83. Robert Half Inc. has a 12 month low of $38.90 and a 12 month high of $78.41. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 22.60 and a beta of 1.00.

Robert Half (NYSE:RHI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $0.41 EPS 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 company earned $0.66 EPS. The company's quarterly revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts expect that Robert Half Inc. will post 2.48 earnings per share for the current year.

Robert Half Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 23rd were issued a $0.59 dividend. The ex-dividend date was Friday, May 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.97%. Robert Half's payout ratio is presently 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.