Envestnet Asset Management Inc. holds a $13.51 million stake in Robert Half International Inc. (NYSE: RHI)
Envestnet Asset Management Inc. reduced its stake in the shares of Robert Half International Inc. (NYSE: RHI – Get a rating) by 0.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund held 118,301 shares of the business services provider after selling 825 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of Robert Half International worth $13,508,000 at the time of its last SEC filing.
Other hedge funds have also increased or reduced their stakes in the company. American International Group Inc. increased its stake in Robert Half International by 0.5% during the fourth quarter. American International Group Inc. now owns 34,397 shares of the business services provider valued at $3,836,000 after buying 163 additional shares in the last quarter. Advisor Partners LLC increased its stake in the shares of Robert Half International by 3.0% in the 4th quarter. Advisor Partners LLC now owns 3,749 shares of the business services provider worth $419,000 after buying 109 additional shares in the last quarter. Zurcher Kantonalbank Zurcher Kantonalbank increased its stake in shares of Robert Half International by 2.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 116,723 shares of the business services provider worth $13,327,000 after buying 2,659 additional shares in the last quarter. JustInvest LLC increased its stake in shares of Robert Half International by 71.1% in the 4th quarter. JustInvest LLC now owns 8,415 shares of the business services provider worth $938,000 after buying 3,497 additional shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Robert Half International shares by 24.5% in the 1st quarter. Parallel Advisors LLC now owns 727 shares of the business services provider worth $86,000 after buying 143 additional shares in the last quarter. Institutional investors and hedge funds hold 86.40% of the company’s shares.
In other news, CEO Paul F. Gentzkow sold 50,000 shares of the company in a trade on Thursday, May 12. The shares were sold at an average price of $92.87, for a total transaction of $4,643,500.00. Following completion of the transaction, the CEO now directly owns 275,751 shares of the company, valued at approximately $25,608,995.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC website. Insiders of the company own 2.80% of the shares of the company.
Analysts set new price targets
A number of brokerages have weighed in on RHI recently. StockNews.com downgraded Robert Half International from a “strong buy” rating to a “buy” rating in a research note on Saturday, May 28. BMO Capital Markets downgraded shares of Robert Half International from an “outperforming” rating to a “market performing” rating and lowered its price target for the stock from $125.00 to $80.00 in a report from Thursday, May 26. Truist Financial has downgraded shares of Robert Half International from a “hold” rating to a “sell” rating and set a price target of $66.00 for the stock. in a report on Friday July 15. Barclays lowered its price target on shares of Robert Half International from $105.00 to $80.00 and set an “underweight” rating on the stock in a Friday July 22 report. Finally, CL King lowered its price target on shares of Robert Half International from $132.00 to $120.00 in a Monday, July 25 report. Three analysts gave the stock a sell rating, one issued a hold rating and two gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $87.71.
Robert Half International Awards Performance
Shares of RHI Action opened at $78.86 on Friday. The company’s fifty-day simple moving average is $80.38 and its two-hundred-day simple moving average is $99.68. Robert Half International Inc. has a 1-year low of $73.10 and a 1-year high of $125.77. The stock has a market capitalization of $8.72 billion, a price/earnings ratio of 12.80, a PEG ratio of 3.57 and a beta of 1.45.
Robert Half International (NYSE: RHI – Get a rating) last reported results on Thursday, July 21. The business services provider reported earnings per share (EPS) of $1.60 for the quarter, beating analyst consensus estimates of $1.59 by $0.01. The company posted revenue of $1.86 billion for the quarter, compared to $1.90 billion for analysts. Robert Half International achieved a net margin of 9.54% and a return on equity of 48.63%. In the same quarter a year earlier, the company posted EPS of $1.33. Equity research analysts expect Robert Half International Inc. to post EPS of 6.33 for the current year.
Robert Half International announces dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Thursday, August 25 will receive a dividend of $0.43 per share. The ex-dividend date is Wednesday, August 24. This represents a dividend of $1.72 on an annualized basis and a dividend yield of 2.18%. Robert Half International’s dividend payout ratio (DPR) is currently 27.92%.
About Robert Half International
Robert Half International Inc provides recruitment and risk consulting services in North America, South America, Europe, Asia and Australia. The company operates through three segments: Temporary Staff and Consultants, Permanent Placement, and Risk and Internal Audit Advisory Services. He places temporary services for accounting, finance and bookkeeping; temporary and full-time clerical and administrative staff consisting of executive and administrative assistants, receptionists and customer service representatives; full-time accounting, finance, tax and accounting staff; and contract information technology professionals and full-time employees in the areas of platform systems integration to end-user desktop and technical support, including specialists in application development, networking and cloud, systems integration and deployment, database design and administration, and security and business continuity.
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