True Wealth Design LLC Makes New $60,000 Investment in Robert Half Inc. (NYSE:RHI)

True Wealth Design LLC bought a new position in Robert Half Inc. (NYSE:RHI) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 896 shares of the business services provider’s stock, valued at approximately $60,000.

Several other hedge funds have also recently made changes to their positions in RHI. Comerica Bank lifted its stake in shares of Robert Half by 4.2% in the 1st quarter. Comerica Bank now owns 22,942 shares of the business services provider’s stock valued at $1,819,000 after purchasing an additional 916 shares during the last quarter. Cetera Investment Advisers increased its position in Robert Half by 69.6% during the first quarter. Cetera Investment Advisers now owns 64,729 shares of the business services provider’s stock valued at $5,132,000 after acquiring an additional 26,561 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Robert Half by 0.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 98,204 shares of the business services provider’s stock valued at $7,585,000 after acquiring an additional 501 shares during the period. Institutional & Family Asset Management LLC purchased a new stake in shares of Robert Half in the second quarter valued at $63,000. Finally, Versant Capital Management Inc bought a new stake in shares of Robert Half in the 2nd quarter worth about $35,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.00.

Insiders Place Their Bets

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the completion of the sale, the director now owns 12,310 shares of the company’s stock, valued at approximately $915,248.50. This represents a 7.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Robert Half Trading Down 0.1 %

NYSE RHI opened at $74.61 on Friday. Robert Half Inc. has a 12 month low of $57.05 and a 12 month high of $88.39. The company’s 50-day moving average price is $70.10 and its 200-day moving average price is $65.98. The stock has a market cap of $7.70 billion, a PE ratio of 27.23 and a beta of 1.23.

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

Robert Half Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Monday, November 25th. Robert Half’s dividend payout ratio (DPR) is presently 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.