Cornerstone Capital Inc. Sells 3,750 Shares of Robert Half Inc. (NYSE:RHI)

Cornerstone Capital Inc. decreased its position in shares of Robert Half Inc. (NYSE:RHI) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,365 shares of the business services provider’s stock after selling 3,750 shares during the quarter. Robert Half comprises approximately 1.7% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 27th biggest holding. Cornerstone Capital Inc.’s holdings in Robert Half were worth $15,858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RHI. Venturi Wealth Management LLC boosted its stake in Robert Half by 55.0% during the 4th quarter. Venturi Wealth Management LLC now owns 420 shares of the business services provider’s stock worth $37,000 after acquiring an additional 149 shares during the last quarter. Larson Financial Group LLC bought a new position in Robert Half in the third quarter valued at approximately $39,000. CoreFirst Bank & Trust lifted its stake in Robert Half by 440.0% in the third quarter. CoreFirst Bank & Trust now owns 540 shares of the business services provider’s stock valued at $40,000 after buying an additional 440 shares in the last quarter. Orion Capital Management LLC bought a new position in Robert Half in the third quarter valued at approximately $43,000. Finally, GAMMA Investing LLC bought a new position in Robert Half in the fourth quarter valued at approximately $46,000. Institutional investors own 92.41% of the company’s stock.

Analyst Upgrades and Downgrades

RHI has been the topic of a number of research reports. BMO Capital Markets cut their price target on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 31st. Robert W. Baird cut their price target on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Truist Financial raised shares of Robert Half from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Robert Half has an average rating of “Hold” and an average target price of $68.14.

Insider Buying and Selling

In related news, EVP Robert W. Glass sold 7,500 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total transaction of $603,450.00. Following the transaction, the executive vice president now directly owns 186,062 shares in the company, valued at $14,970,548.52. The sale was disclosed in a filing with the SEC, which is available through this link. 3.00% of the stock is owned by corporate insiders.

Robert Half Stock Down 1.8 %

NYSE RHI opened at $69.35 on Friday. Robert Half Inc. has a 12-month low of $64.65 and a 12-month high of $88.39. The company has a market capitalization of $7.29 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 17.24 and a beta of 1.26. The firm’s 50 day moving average is $76.99 and its 200-day moving average is $79.41.

Robert Half (NYSE:RHI) last issued its earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Robert Half had a net margin of 5.74% and a return on equity of 22.08%. The firm’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. As a group, sell-side analysts expect that Robert Half Inc. will post 3.3 EPS for the current year.

Robert Half Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.06%. This is an increase from Robert Half’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, February 22nd. Robert Half’s payout ratio is presently 63.47%.

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.