State of New Jersey Common Pension Fund D Buys 290 Shares of Robert Half Inc. (NYSE:RHI)

State of New Jersey Common Pension Fund D grew its stake in Robert Half Inc. (NYSE:RHI) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,957 shares of the business services provider’s stock after acquiring an additional 290 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Robert Half were worth $2,087,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Covestor Ltd grew its holdings in shares of Robert Half by 11.9% during the third quarter. Covestor Ltd now owns 3,965 shares of the business services provider’s stock valued at $267,000 after buying an additional 421 shares during the last quarter. Crescent Grove Advisors LLC bought a new position in Robert Half in the 3rd quarter valued at approximately $206,000. River Road Asset Management LLC boosted its stake in Robert Half by 19.9% during the 3rd quarter. River Road Asset Management LLC now owns 78,398 shares of the business services provider’s stock valued at $5,285,000 after purchasing an additional 13,016 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Robert Half by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 69,210 shares of the business services provider’s stock worth $4,677,000 after purchasing an additional 19,776 shares in the last quarter. Finally, Confluence Wealth Services Inc. raised its stake in shares of Robert Half by 26.1% in the third quarter. Confluence Wealth Services Inc. now owns 11,834 shares of the business services provider’s stock worth $798,000 after purchasing an additional 2,448 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BMO Capital Markets reduced their price objective on Robert Half from $72.00 to $64.00 and set a “market perform” rating for the company in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered their price objective on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Barclays cut their target price on shares of Robert Half from $70.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, July 26th. Finally, Truist Financial lowered their price target on Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $69.00.

Robert Half Stock Performance

Shares of Robert Half stock opened at $73.42 on Friday. The stock’s fifty day moving average is $68.00 and its 200 day moving average is $65.74. Robert Half Inc. has a one year low of $57.05 and a one year high of $88.39. The stock has a market cap of $7.58 billion, a P/E ratio of 26.80 and a beta of 1.23.

Robert Half (NYSE:RHI) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. Analysts predict that Robert Half Inc. will post 2.45 EPS for the current year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, November 25th. Robert Half’s dividend payout ratio (DPR) is 77.37%.

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.