Pinnacle Associates Ltd. Sells 104,834 Shares of Robert Half Inc. $RHI

Pinnacle Associates Ltd. reduced its stake in shares of Robert Half Inc. (NYSE:RHI) by 85.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,232 shares of the business services provider’s stock after selling 104,834 shares during the period. Pinnacle Associates Ltd.’s holdings in Robert Half were worth $620,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CoreFirst Bank & Trust grew its holdings in Robert Half by 34.7% during the third quarter. CoreFirst Bank & Trust now owns 8,030 shares of the business services provider’s stock worth $273,000 after buying an additional 2,070 shares in the last quarter. Parallel Advisors LLC lifted its stake in Robert Half by 228.4% during the 3rd quarter. Parallel Advisors LLC now owns 6,610 shares of the business services provider’s stock valued at $225,000 after acquiring an additional 4,597 shares in the last quarter. Natixis Advisors LLC boosted its holdings in Robert Half by 19.3% during the 3rd quarter. Natixis Advisors LLC now owns 13,930 shares of the business services provider’s stock worth $473,000 after acquiring an additional 2,250 shares during the last quarter. HUB Investment Partners LLC bought a new stake in shares of Robert Half in the 3rd quarter worth $379,000. Finally, Barclays PLC grew its stake in shares of Robert Half by 217.5% in the 3rd quarter. Barclays PLC now owns 728,316 shares of the business services provider’s stock worth $24,748,000 after acquiring an additional 498,951 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RHI. Robert W. Baird set a $50.00 price target on shares of Robert Half in a research report on Friday, January 30th. The Goldman Sachs Group upped their price objective on shares of Robert Half from $24.00 to $27.00 and gave the stock a “sell” rating in a research report on Tuesday, February 3rd. Barclays decreased their price objective on shares of Robert Half from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, March 6th. BMO Capital Markets cut their target price on Robert Half from $35.00 to $32.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 17th. Finally, Truist Financial upped their target price on Robert Half from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Robert Half has a consensus rating of “Reduce” and a consensus price target of $31.75.

Robert Half Price Performance

Shares of RHI opened at $22.81 on Friday. Robert Half Inc. has a 1 year low of $22.32 and a 1 year high of $55.24. The stock’s fifty day moving average price is $27.12 and its two-hundred day moving average price is $29.36. The firm has a market cap of $2.31 billion, a PE ratio of 17.15 and a beta of 0.90.

Robert Half (NYSE:RHI) last posted its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. Robert Half had a return on equity of 10.26% and a net margin of 2.47%.The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Sell-side analysts anticipate that Robert Half Inc. will post 2.48 earnings per share for the current fiscal year.

Robert Half Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Wednesday, February 25th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $2.36 annualized dividend and a dividend yield of 10.3%. Robert Half’s dividend payout ratio (DPR) is presently 177.44%.

Robert Half Company Profile

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.