Jacobs Levy Equity Management Inc. Sells 57,626 Shares of Robert Half Inc. (NYSE:RHI)

Jacobs Levy Equity Management Inc. lowered its stake in Robert Half Inc. (NYSE:RHI - Free Report) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,285,404 shares of the business services provider's stock after selling 57,626 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.24% of Robert Half worth $90,570,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mawer Investment Management Ltd. increased its holdings in shares of Robert Half by 72.6% during the fourth quarter. Mawer Investment Management Ltd. now owns 8,079,597 shares of the business services provider's stock worth $569,288,000 after buying an additional 3,398,257 shares in the last quarter. Boston Partners increased its holdings in Robert Half by 17.5% in the 4th quarter. Boston Partners now owns 8,554,276 shares of the business services provider's stock worth $602,867,000 after purchasing an additional 1,271,237 shares in the last quarter. Norges Bank bought a new position in Robert Half in the fourth quarter valued at about $60,257,000. Balyasny Asset Management L.P. boosted its stake in shares of Robert Half by 5,172.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 693,394 shares of the business services provider's stock valued at $48,857,000 after purchasing an additional 680,242 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Robert Half by 293.3% during the fourth quarter. Wellington Management Group LLP now owns 831,359 shares of the business services provider's stock worth $58,578,000 after purchasing an additional 619,982 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Robert Half Stock Performance

Robert Half stock opened at $44.77 on Friday. The stock's 50 day moving average price is $49.68 and its two-hundred day moving average price is $62.19. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 18.35 and a beta of 1.06. Robert Half Inc. has a 52-week low of $40.00 and a 52-week high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.19). The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.41 billion. Robert Half had a net margin of 4.34% and a return on equity of 17.20%. The company's revenue for the quarter was down 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. On average, equities research analysts forecast that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be paid a $0.59 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 5.27%. Robert Half's dividend payout ratio (DPR) is presently 118.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Robert Half from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Thursday, April 24th. StockNews.com lowered shares of Robert Half from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. Barclays decreased their price objective on Robert Half from $50.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Truist Financial set a $55.00 price target on Robert Half and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Robert Half from $65.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $48.71.

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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