Legacy Financial Advisors Inc. Raises Stock Holdings in Robert Half Inc. (NYSE:RHI)

Legacy Financial Advisors Inc. increased its position in Robert Half Inc. (NYSE:RHI) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,181 shares of the business services provider’s stock after buying an additional 230 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Robert Half were worth $807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Robert Half by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,634,682 shares of the business services provider’s stock valued at $193,069,000 after acquiring an additional 57,130 shares in the last quarter. Boston Partners boosted its holdings in Robert Half by 61.5% in the third quarter. Boston Partners now owns 2,395,745 shares of the business services provider’s stock valued at $175,400,000 after acquiring an additional 911,969 shares in the last quarter. Northern Trust Corp boosted its holdings in Robert Half by 10.1% in the third quarter. Northern Trust Corp now owns 1,792,144 shares of the business services provider’s stock valued at $131,328,000 after acquiring an additional 164,517 shares in the last quarter. Invesco Ltd. boosted its holdings in Robert Half by 8.6% in the third quarter. Invesco Ltd. now owns 1,706,986 shares of the business services provider’s stock valued at $125,088,000 after acquiring an additional 135,664 shares in the last quarter. Finally, Mawer Investment Management Ltd. bought a new stake in Robert Half in the third quarter valued at $106,840,000. 92.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert W. Glass sold 7,500 shares of the stock in a transaction on Thursday, March 7th. The stock was 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 of the company’s stock, valued at approximately $14,970,548.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RHI. 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 report on Wednesday, January 31st. Truist Financial upgraded shares of Robert Half from a “sell” rating to a “hold” rating and set a $72.00 target price on the stock in a report on Monday, April 22nd. Robert W. Baird dropped their target price on shares of Robert Half from $84.00 to $79.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.14.

Robert Half Stock Performance

Shares of NYSE:RHI traded up $0.58 during midday trading on Friday, reaching $70.16. 806,134 shares of the company’s stock traded hands, compared to its average volume of 1,352,646. Robert Half Inc. has a one year low of $64.65 and a one year high of $88.39. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 3.27 and a beta of 1.30. The stock has a 50 day moving average of $75.95 and a 200 day moving average of $79.15.

Robert Half (NYSE:RHI) last announced its quarterly earnings results on Thursday, April 25th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Robert Half had a net margin of 5.74% and a return on equity of 22.36%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm posted $1.14 EPS. The business’s quarterly revenue was down 14.0% compared to the same quarter last year. Sell-side analysts predict that Robert Half Inc. will post 2.98 EPS for the current fiscal year.

Robert Half Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.12 annualized dividend and a dividend yield of 3.02%. Robert Half’s payout ratio is 63.47%.

Robert Half Company 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.