Riverwater Partners LLC Boosts Position in Robert Half Inc. (NYSE:RHI)

Riverwater Partners LLC lifted its position in Robert Half Inc. (NYSE:RHI) by 16.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,550 shares of the business services provider’s stock after purchasing an additional 628 shares during the quarter. Riverwater Partners LLC’s holdings in Robert Half were worth $321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of Robert Half during the 4th quarter worth approximately $26,000. Geode Capital Management LLC grew its position in Robert Half by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 2,109,561 shares of the business services provider’s stock worth $148,677,000 after acquiring an additional 53,294 shares during the period. OLD Mission Capital LLC acquired a new stake in Robert Half during the fourth quarter worth $2,779,000. Summit Financial LLC purchased a new stake in Robert Half in the fourth quarter valued at $306,000. Finally, Alliancebernstein L.P. raised its position in Robert Half by 0.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,217,999 shares of the business services provider’s stock valued at $226,740,000 after purchasing an additional 17,338 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Robert Half Trading Down 5.1 %

Shares of NYSE RHI opened at $48.34 on Friday. The stock has a market cap of $4.94 billion, a P/E ratio of 19.81 and a beta of 1.22. The business’s fifty day simple moving average is $57.73 and its 200-day simple moving average is $66.03. Robert Half Inc. has a 12-month low of $47.37 and a 12-month high of $78.41.

Robert Half (NYSE:RHI) last posted its quarterly earnings results 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 net margin of 4.34% and a return on equity of 17.20%. On average, equities analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.36 dividend on an annualized basis and a yield of 4.88%. This is an increase from Robert Half’s previous quarterly dividend of $0.53. Robert Half’s payout ratio is currently 96.72%.

About Robert Half

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.