Maryland State Retirement & Pension System Reduces Stock Holdings in Robert Half Inc. (NYSE:RHI)

Maryland State Retirement & Pension System reduced its stake in Robert Half Inc. (NYSE:RHI) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 40,016 shares of the business services provider’s stock after selling 367 shares during the period. Maryland State Retirement & Pension System’s holdings in Robert Half were worth $2,820,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its stake in Robert Half by 79.7% in the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. Signaturefd LLC grew its position in shares of Robert Half by 121.3% during the fourth quarter. Signaturefd LLC now owns 436 shares of the business services provider’s stock worth $31,000 after acquiring an additional 239 shares during the last quarter. Eastern Bank purchased a new position in shares of Robert Half during the fourth quarter worth approximately $35,000. V Square Quantitative Management LLC grew its position in shares of Robert Half by 70.6% during the fourth quarter. V Square Quantitative Management LLC now owns 679 shares of the business services provider’s stock worth $48,000 after acquiring an additional 281 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Robert Half during the third quarter worth approximately $56,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Robert Half Stock Performance

Shares of RHI opened at $53.85 on Friday. The stock has a market capitalization of $5.50 billion, a P/E ratio of 22.07 and a beta of 1.22. The company’s fifty day moving average is $61.33 and its two-hundred day moving average is $66.69. Robert Half Inc. has a 1 year low of $51.55 and a 1 year high of $81.85.

Robert Half (NYSE:RHI) last issued its earnings results on Wednesday, January 29th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01). Robert Half had a return on equity of 17.20% and a net margin of 4.34%. Sell-side analysts predict that Robert Half Inc. will post 2.48 EPS for the current year.

Robert Half Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.59 per share. This is a positive change from Robert Half’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Tuesday, February 25th. Robert Half’s payout ratio is presently 96.72%.

Robert Half Company 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.