Edgestream Partners L.P. Purchases 29,240 Shares of Robert Half Inc. (NYSE:RHI)

Edgestream Partners L.P. grew its position in Robert Half Inc. (NYSE:RHI) by 216.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,758 shares of the business services provider’s stock after acquiring an additional 29,240 shares during the period. Edgestream Partners L.P.’s holdings in Robert Half were worth $2,882,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mawer Investment Management Ltd. raised its stake in shares of Robert Half by 28.9% in the third quarter. Mawer Investment Management Ltd. now owns 4,681,340 shares of the business services provider’s stock valued at $315,569,000 after acquiring an additional 1,049,005 shares during the last quarter. Cetera Investment Advisers raised its position in Robert Half by 69.6% in the 1st quarter. Cetera Investment Advisers now owns 64,729 shares of the business services provider’s stock worth $5,132,000 after purchasing an additional 26,561 shares during the last quarter. Achmea Investment Management B.V. raised its position in Robert Half by 9.2% in the 2nd quarter. Achmea Investment Management B.V. now owns 152,251 shares of the business services provider’s stock worth $9,741,000 after purchasing an additional 12,772 shares during the last quarter. FORA Capital LLC bought a new position in Robert Half in the 3rd quarter worth approximately $1,792,000. Finally, Oregon Public Employees Retirement Fund raised its position in Robert Half by 182.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 25,100 shares of the business services provider’s stock worth $1,606,000 after purchasing an additional 16,212 shares during the last quarter. Institutional investors own 92.41% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. dropped their price objective on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. 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 company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.00.

Robert Half Stock Performance

Shares of Robert Half stock opened at $74.61 on Monday. The firm has a fifty day moving average of $70.10 and a two-hundred day moving average of $65.94. The stock has a market capitalization of $7.70 billion, a price-to-earnings ratio of 27.23 and a beta of 1.23. Robert Half Inc. has a 52 week low of $57.05 and a 52 week high of $88.39.

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

Robert Half Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, November 25th. This represents a $2.12 annualized dividend and a yield of 2.84%. Robert Half’s dividend payout ratio (DPR) is presently 77.37%.

Insiders Place Their Bets

In other news, Director Dirk A. Kempthorne sold 1,032 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $74.35, for a total value of $76,729.20. Following the sale, the director now directly 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 can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

About Robert Half

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.