Comerica Bank buys shares of Robert Half Inc. (NYSE:RHI)

Comerica Bank increased its holdings in Robert Half Inc. (NYSE:RHI – Free Report) by 4.2% during the first quarter, the company said in its most recent filing with the SEC on Form 13F. The company owned 22,942 shares of the business services provider after purchasing an additional 916 shares during the quarter. Comerica Bank’s holdings in Robert Half were worth $1,819,000, according to the most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Mawer Investment Management Ltd. increased its stake in shares of Robert Half by 105.4% in the first quarter. Mawer Investment Management Ltd. now owns 3,655,626 shares of the business services provider’s stock worth $289,818,000 after acquiring an additional 1,875,476 shares during the same period. Capital World Investors increased its stake in shares of Robert Half by 6.7% in the fourth quarter. Capital World Investors now owns 14,574,944 shares of the business services provider’s stock worth $1,281,429,000 after acquiring an additional 917,311 shares during the same period. Boston Partners increased its stake in shares of Robert Half by 36.5% in the fourth quarter. Boston Partners now owns 3,270,365 shares of the business services provider’s stock valued at $287,265,000 after acquiring an additional 874,620 shares during the same period. Norges Bank acquired a new position in shares of Robert Half during the fourth quarter valued at about $73,311,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Robert Half by 900.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 834,447 shares of the business services provider’s stock valued at $66,155,000 after acquiring an additional 751,049 shares during the last quarter. 92.41% of the shares are currently held by institutional investors and hedge funds.

Insider activities at Robert Half

In related news, Director Dirk A. Kempthorne sold 1,300 shares of the company’s stock in a transaction that took place on Thursday, August 1. The shares were sold at an average price of $63.09, for a total transaction of $82,017.00. Following the transaction, the director now owns 13,342 shares of the company’s stock, valued at $841,746.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.00% of the company’s stock.

Robert Half price development

Shares of NYSE RHI opened at $60.86 on Friday. Robert Half Inc. has a 12-month low of $57.05 and a 12-month high of $88.39. The company has a market cap of $6.39 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 5.91 and a beta of 1.25. The company’s 50-day moving average is $63.64 and its 200-day moving average is $71.55.

Robert Half (NYSE:RHI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24. The business services provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.05). The company had revenue of $1.47 billion for the quarter, compared to analyst expectations of $1.49 billion. Robert Half had a net margin of 5.26% and a return on equity of 20.41%. The company’s revenue for the quarter declined 10.2% year-over-year. During the same period last year, the company generated earnings per share of $1.00. On average, analysts forecast that Robert Half Inc. will report earnings per share of $2.58 for the current fiscal year.

Robert Half announces dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will receive a dividend of $0.53 per share. This represents an annualized dividend of $2.12 and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, August 23rd. Robert Half’s payout ratio is 63.47%.

Upgrades and downgrades by analysts

Several research firms have recently commented on RHI. JPMorgan Chase & Co. lowered their price target on shares of Robert Half from $74.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Robert W. Baird lowered their price target on shares of Robert Half from $84.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Truist Financial lowered their price target on shares of Robert Half from $72.00 to $62.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Barclays lowered their price target on shares of Robert Half from $70.00 to $60.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. Finally, BMO Capital Markets lowered their price target on shares of Robert Half from $72.00 to $64.00 and issued a “market perform” rating on the stock in a report on Thursday, July 25. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating. According to MarketBeat.com, Robert Half currently has an average rating of “Hold” and an average price target of $67.86.

Read our latest report on RHI

Robert Half Profile

(Free report)

Robert Half Inc provides talent solutions and management consulting 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 placement professionals in the areas of finance and accounting, technology, marketing and creative, legal and administrative, and customer support.

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