Cresset Asset Management LLC Cuts Stake in Robert Half Inc. (NYSE:RHI)

Cresset Asset Management LLC cut its holdings in Robert Half Inc. (NYSE:RHI - Free Report) by 69.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,108 shares of the business services provider's stock after selling 13,709 shares during the quarter. Cresset Asset Management LLC's holdings in Robert Half were worth $430,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Robert Half by 613.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the business services provider's stock valued at $25,000 after purchasing an additional 313 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Robert Half in the 4th quarter worth about $26,000. Signaturefd LLC boosted its stake in shares of Robert Half by 121.3% during the 4th quarter. Signaturefd LLC now owns 436 shares of the business services provider's stock worth $31,000 after purchasing an additional 239 shares during the period. GeoWealth Management LLC purchased a new position in shares of Robert Half during the fourth quarter valued at approximately $35,000. Finally, Eastern Bank purchased a new stake in shares of Robert Half in the fourth quarter worth approximately $35,000. Institutional investors own 92.41% of the company's stock.

Robert Half Stock Performance

Robert Half stock traded up $0.17 during mid-day trading on Monday, reaching $48.16. 988,730 shares of the company were exchanged, compared to its average volume of 1,497,534. The firm has a market cap of $4.92 billion, a P/E ratio of 19.74 and a beta of 1.06. The business has a fifty day moving average of $48.97 and a 200 day moving average of $61.41. Robert Half Inc. has a 12-month low of $40.00 and a 12-month high of $78.41.

Robert Half (NYSE:RHI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.19). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter last year, the company earned $0.61 earnings per share. The company's revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts predict that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date is Friday, May 23rd. Robert Half's dividend payout ratio is currently 118.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial set a $55.00 price target on shares of Robert Half and gave the stock a "buy" rating in a report on Thursday, April 24th. BNP Paribas lowered shares of Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 target price on the stock. in a research report on Friday, May 2nd. StockNews.com lowered Robert Half from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price 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. Finally, BNP Paribas Exane lowered Robert Half from an "outperform" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $48.71.

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.