Desjardins Global Asset Management Inc. Boosts Holdings in Robert Half Inc. (NYSE:RHI)

Desjardins Global Asset Management Inc. increased its stake in shares of Robert Half Inc. (NYSE:RHI) by 65.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,237 shares of the business services provider’s stock after buying an additional 2,074 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Robert Half were worth $460,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Robert Half by 0.3% during the first quarter. Vanguard Group Inc. now owns 13,674,644 shares of the business services provider’s stock worth $1,561,370,000 after buying an additional 42,681 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Robert Half by 116,277.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,941,582 shares of the business services provider’s stock worth $586,327,000 after purchasing an additional 7,934,758 shares during the period. Capital World Investors purchased a new position in shares of Robert Half in the first quarter worth about $636,060,000. State Street Corp increased its stake in shares of Robert Half by 2.5% in the second quarter. State Street Corp now owns 4,647,446 shares of the business services provider’s stock worth $349,581,000 after purchasing an additional 113,299 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Robert Half by 46.5% in the fourth quarter. Alliancebernstein L.P. now owns 2,808,208 shares of the business services provider’s stock worth $207,330,000 after purchasing an additional 891,202 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Robert Half Trading Down 2.0 %

Shares of NYSE:RHI opened at $69.31 on Thursday. The company has a 50 day moving average of $78.45 and a 200 day moving average of $79.59. The stock has a market cap of $7.29 billion, a P/E ratio of 17.91, a P/E/G ratio of 17.59 and a beta of 1.26. Robert Half Inc. has a 12 month low of $64.65 and a 12 month high of $88.39.

Robert Half (NYSE:RHI) last issued its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Robert Half had a net margin of 6.43% and a return on equity of 25.73%. Robert Half’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share. On average, equities analysts forecast that Robert Half Inc. will post 3.34 earnings per share for the current fiscal year.

Robert Half Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Thursday, February 22nd. This is a boost from Robert Half’s previous quarterly dividend of $0.48. Robert Half’s payout ratio is currently 54.78%.

Insiders Place Their Bets

In other Robert Half news, EVP Robert W. Glass sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $80.46, for a total value of $603,450.00. Following the completion of the transaction, the executive vice president now owns 186,062 shares of the company’s stock, valued at approximately $14,970,548.52. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on RHI. Truist Financial lifted their target price on shares of Robert Half from $66.00 to $72.00 and gave the stock a “sell” rating in a research note on Thursday, January 25th. BMO Capital Markets reduced their target price on shares of Robert Half from $85.00 to $80.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Robert Half currently has a consensus rating of “Hold” and an average price target of $68.57.

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.