Pinnacle Associates Ltd. Sells 5,352 Shares of Robert Half Inc. (NYSE:RHI)

Pinnacle Associates Ltd. lessened its holdings in shares of Robert Half Inc. (NYSE:RHI) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 185,040 shares of the business services provider’s stock after selling 5,352 shares during the quarter. Pinnacle Associates Ltd. owned about 0.18% of Robert Half worth $12,474,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Robert Half by 35.6% in the 3rd quarter. GAMMA Investing LLC now owns 682 shares of the business services provider’s stock worth $46,000 after buying an additional 179 shares during the last quarter. BOKF NA lifted its position in Robert Half by 2.1% in the 1st quarter. BOKF NA now owns 10,383 shares of the business services provider’s stock worth $812,000 after buying an additional 216 shares during the last quarter. Isthmus Partners LLC lifted its position in Robert Half by 3.3% in the 2nd quarter. Isthmus Partners LLC now owns 7,079 shares of the business services provider’s stock worth $453,000 after buying an additional 229 shares during the last quarter. Wahed Invest LLC increased its stake in Robert Half by 13.7% in the 1st quarter. Wahed Invest LLC now owns 1,998 shares of the business services provider’s stock worth $158,000 after purchasing an additional 240 shares during the period. Finally, Toronto Dominion Bank increased its stake in Robert Half by 0.4% in the 1st quarter. Toronto Dominion Bank now owns 60,014 shares of the business services provider’s stock worth $4,758,000 after purchasing an additional 266 shares during the period. Institutional investors own 92.41% of the company’s stock.

Analysts Set New Price Targets

RHI has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial decreased their price target on Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. StockNews.com cut Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. BMO Capital Markets decreased their price target on Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a research note on Thursday, July 25th. Finally, Barclays reduced their target price on Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Robert Half currently has an average rating of “Hold” and a consensus price target of $67.71.

Robert Half Stock Down 0.6 %

Shares of RHI stock opened at $69.01 on Thursday. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 20.66 and a beta of 1.23. The business’s fifty day moving average is $65.31 and its 200 day moving average is $65.45. Robert Half Inc. has a twelve month low of $57.05 and a twelve month high of $88.39.

Robert Half (NYSE:RHI) last issued its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Robert Half had a return on equity of 20.41% and a net margin of 5.26%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Equities research analysts expect that Robert Half Inc. will post 2.51 earnings per share for the current fiscal year.

Robert Half Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $2.12 annualized dividend and a yield of 3.07%. Robert Half’s payout ratio is 63.47%.

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.