Grimes & Company Inc. Trims Stock Position in Robert Half Inc. (NYSE:RHI)

Grimes & Company Inc. cut its stake in Robert Half Inc. (NYSE:RHI) by 1.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 256,889 shares of the business services provider’s stock after selling 4,904 shares during the quarter. Grimes & Company Inc.’s holdings in Robert Half were worth $18,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Robert Half in the third quarter valued at $27,000. Private Trust Co. NA raised its holdings in shares of Robert Half by 79.7% in the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after buying an additional 192 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Robert Half in the third quarter valued at about $34,000. Eastern Bank purchased a new stake in shares of Robert Half in the fourth quarter valued at about $35,000. Finally, GAMMA Investing LLC raised its holdings in shares of Robert Half by 35.6% in the third quarter. GAMMA Investing LLC now owns 682 shares of the business services provider’s stock valued at $46,000 after buying an additional 179 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Barclays upgraded shares of Robert Half from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $60.00 to $80.00 in a research report on Friday, January 3rd. BNP Paribas lowered shares of Robert Half from an “outperform” rating to an “underperform” rating and set a $64.00 target price on the stock. in a research report on Monday, December 16th. Finally, Truist Financial raised shares of Robert Half from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $90.00 in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $74.33.

Insider Buying and Selling

In related news, Director Dirk A. Kempthorne sold 1,032 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total transaction of $76,729.20. Following the transaction, the director now directly owns 12,310 shares in the company, valued at approximately $915,248.50. The trade was a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is owned by company insiders.

Robert Half Price Performance

Shares of Robert Half stock opened at $69.85 on Friday. The firm has a market capitalization of $7.21 billion, a PE ratio of 25.49 and a beta of 1.24. The company’s fifty day moving average price is $71.92 and its two-hundred day moving average price is $67.74. Robert Half Inc. has a 52-week low of $57.05 and a 52-week high of $83.25.

Robert Half (NYSE:RHI) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was down 6.3% on a year-over-year basis. Analysts predict that Robert Half Inc. will post 2.45 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a $0.53 dividend. The ex-dividend date was Monday, November 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.03%. Robert Half’s dividend payout ratio is 77.37%.

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.