Baker Avenue Asset Management LP Invests $207,000 in Robert Half Inc. (NYSE:RHI)

Baker Avenue Asset Management LP acquired a new stake in Robert Half Inc. (NYSE:RHI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,943 shares of the business services provider’s stock, valued at approximately $207,000.

Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp increased its stake in Robert Half by 24.1% in the 4th quarter. Van ECK Associates Corp now owns 85,878 shares of the business services provider’s stock valued at $6,051,000 after buying an additional 16,668 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Robert Half by 347.9% in the fourth quarter. SG Americas Securities LLC now owns 16,586 shares of the business services provider’s stock valued at $1,169,000 after acquiring an additional 12,883 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Robert Half by 48.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 794 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 258 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Robert Half by 20.5% during the third quarter. JPMorgan Chase & Co. now owns 270,467 shares of the business services provider’s stock worth $18,232,000 after acquiring an additional 46,100 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its position in Robert Half by 46.3% during the fourth quarter. Tributary Capital Management LLC now owns 13,575 shares of the business services provider’s stock valued at $956,000 after purchasing an additional 4,299 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Robert Half Stock Performance

NYSE RHI opened at $44.06 on Tuesday. The stock has a market cap of $4.49 billion, a PE ratio of 18.06 and a beta of 1.06. The firm has a 50-day moving average of $50.72 and a 200-day moving average of $62.77. Robert Half Inc. has a 52-week low of $40.00 and a 52-week high of $78.41.

Robert Half (NYSE:RHI) last issued its quarterly earnings data on Wednesday, April 23rd. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.19). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $0.61 earnings per share. The company’s revenue was down 8.4% on a year-over-year basis. As a group, analysts predict that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Friday, May 23rd. Robert Half’s dividend payout ratio is 118.00%.

Wall Street Analyst Weigh In

RHI has been the topic of several recent analyst reports. Truist Financial set a $55.00 price target on Robert Half and gave the stock a “buy” rating in a research report on Thursday, April 24th. The Goldman Sachs Group dropped their price target on shares of Robert Half from $46.00 to $40.00 and set a “sell” rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of Robert Half from $65.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. BNP Paribas cut shares of Robert Half from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Friday. Finally, Barclays cut their target price on shares of Robert Half from $50.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.71.

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.