KLP Kapitalforvaltning AS Invests $1.75 Million in Robert Half Inc. (NYSE:RHI)

KLP Kapitalforvaltning AS purchased a new position in shares of Robert Half Inc. (NYSE:RHI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,900 shares of the business services provider’s stock, valued at approximately $1,754,000.

A number of other large investors also recently bought and sold shares of the business. Boston Partners lifted its position in shares of Robert Half by 17.5% during the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Robert Half by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,433,585 shares of the business services provider’s stock worth $241,930,000 after buying an additional 148,577 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Robert Half by 20.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,343,030 shares of the business services provider’s stock valued at $90,534,000 after buying an additional 225,210 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Robert Half by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,160,555 shares of the business services provider’s stock valued at $81,773,000 after buying an additional 94,125 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Robert Half in the 3rd quarter worth about $41,096,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Price Performance

Shares of RHI stock opened at $54.97 on Friday. The stock’s 50-day moving average is $59.89 and its 200 day moving average is $66.43. Robert Half Inc. has a 1-year low of $51.55 and a 1-year high of $79.77. The company has a market cap of $5.62 billion, a P/E ratio of 22.53 and a beta of 1.22.

Robert Half (NYSE:RHI) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. On average, analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This is an increase from Robert Half’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.29%. Robert Half’s dividend payout ratio is presently 96.72%.

Wall Street Analyst Weigh In

RHI has been the subject of several research analyst reports. Barclays raised shares of Robert Half from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. Truist Financial raised Robert Half from a “hold” rating to a “buy” rating and lifted their target price for the company from $62.00 to $90.00 in a research report on Friday, December 13th. BNP Paribas upgraded Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 target price for the company in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their price objective on Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Robert Half from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.92.

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.