Biechele Royce Advisors Buys 13,935 Shares of Robert Half Inc. (NYSE:RHI)

Biechele Royce Advisors grew its stake in shares of Robert Half Inc. (NYSE:RHI) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 233,954 shares of the business services provider’s stock after purchasing an additional 13,935 shares during the quarter. Robert Half makes up about 5.2% of Biechele Royce Advisors’ holdings, making the stock its 8th biggest position. Biechele Royce Advisors owned 0.22% of Robert Half worth $15,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ceredex Value Advisors LLC acquired a new stake in Robert Half during the third quarter worth approximately $5,662,000. Reston Wealth Management LLC acquired a new position in shares of Robert Half in the 3rd quarter valued at $34,000. First Trust Direct Indexing L.P. acquired a new position in shares of Robert Half in the 3rd quarter valued at $267,000. Pallas Capital Advisors LLC increased its holdings in shares of Robert Half by 58.7% in the 3rd quarter. Pallas Capital Advisors LLC now owns 11,501 shares of the business services provider’s stock valued at $791,000 after acquiring an additional 4,253 shares during the period. Finally, Semanteon Capital Management LP acquired a new position in shares of Robert Half in the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 92.41% of the company’s stock.

Robert Half Price Performance

Shares of NYSE RHI traded down $0.54 during trading on Friday, hitting $67.57. 916,026 shares of the company were exchanged, compared to its average volume of 1,412,082. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 24.66 and a beta of 1.23. Robert Half Inc. has a 1 year low of $57.05 and a 1 year high of $88.39. The firm’s fifty day moving average price is $65.63 and its 200 day moving average price is $65.47.

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 the consensus estimate of $0.62 by $0.02. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. Robert Half had a net margin of 4.84% and a return on equity of 18.78%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. On average, research analysts forecast that Robert Half Inc. will post 2.46 earnings per share for the current year.

Robert Half Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be given a $0.53 dividend. The ex-dividend date is Monday, November 25th. This represents a $2.12 annualized dividend and a dividend yield of 3.14%. Robert Half’s dividend payout ratio is presently 77.37%.

Wall Street Analysts Forecast Growth

RHI has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Robert Half from $70.00 to $69.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Truist Financial cut their target price on shares of Robert Half from $72.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, July 26th. BMO Capital Markets dropped their price objective on shares of Robert Half from $72.00 to $64.00 and set a “market perform” rating on the stock in a research note on Thursday, July 25th. Barclays dropped their price objective on shares of Robert Half from $70.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, July 26th. Finally, StockNews.com cut shares of Robert Half from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Robert Half has an average rating of “Hold” and an average target price of $67.71.

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.