Vanguard Group Inc. Reduces Position in Robert Half Inc. (NYSE:RHI)

Vanguard Group Inc. decreased its stake in shares of Robert Half Inc. (NYSE:RHI - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,863,749 shares of the business services provider's stock after selling 836,429 shares during the quarter. Vanguard Group Inc. owned approximately 10.63% of Robert Half worth $592,618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GeoWealth Management LLC bought a new stake in Robert Half during the 4th quarter valued at about $35,000. Orion Capital Management LLC bought a new stake in Robert Half during the 4th quarter valued at about $41,000. CX Institutional bought a new stake in Robert Half during the 1st quarter valued at about $33,000. Manchester Capital Management LLC lifted its holdings in Robert Half by 45.0% during the 1st 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 lifted its holdings in Robert Half by 80.4% during the 1st 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. Institutional investors own 92.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RHI. Barclays decreased their price objective on shares of Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on shares of Robert Half from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. The Goldman Sachs Group reduced their price target on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating for the company in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Robert Half from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, BNP Paribas downgraded shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Robert Half currently has an average rating of "Hold" and a consensus price target of $45.83.

Robert Half Stock Up 5.1%

Shares of Robert Half stock opened at $36.60 on Thursday. The firm's 50 day moving average price is $40.49 and its 200-day moving average price is $48.24. Robert Half Inc. has a 52-week low of $33.18 and a 52-week high of $78.41. The company has a market cap of $3.72 billion, a P/E ratio of 20.92 and a beta of 1.02.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.01. Robert Half had a net margin of 3.20% and a return on equity of 13.00%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The company's quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, August 25th. Robert Half's payout ratio is currently 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.

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