KLP Kapitalforvaltning AS Makes New Investment in Robert Half Inc. (NYSE:RHI)

KLP Kapitalforvaltning AS acquired a new stake in Robert Half Inc. (NYSE:RHI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,900 shares of the business services provider’s stock, valued at approximately $1,754,000.

Several other institutional investors have also recently modified their holdings of RHI. Private Trust Co. NA boosted its position in Robert Half by 79.7% in the third quarter. Private Trust Co. NA now owns 433 shares of the business services provider’s stock valued at $29,000 after buying an additional 192 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Robert Half by 121.3% in the 4th quarter. Signaturefd LLC now owns 436 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 239 shares during the last quarter. Eastern Bank acquired a new stake in shares of Robert Half in the fourth quarter worth $35,000. V Square Quantitative Management LLC raised its holdings in shares of Robert Half by 70.6% during the fourth quarter. V Square Quantitative Management LLC now owns 679 shares of the business services provider’s stock worth $48,000 after purchasing an additional 281 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Robert Half during the third quarter valued at $56,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Robert Half Price Performance

Shares of Robert Half stock opened at $54.97 on Friday. The stock has a market capitalization of $5.62 billion, a P/E ratio of 22.53 and a beta of 1.22. The business has a 50 day simple moving average of $59.89 and a two-hundred day simple moving average of $66.43. Robert Half Inc. has a 12 month low of $51.55 and a 12 month high of $79.77.

Robert Half (NYSE:RHI) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Robert Half had a net margin of 4.34% and a return on equity of 17.20%. As a group, research analysts anticipate that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Robert Half Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Tuesday, February 25th. This is a boost from Robert Half’s previous quarterly dividend of $0.53. Robert Half’s dividend payout ratio is currently 96.72%.

Analysts Set New Price Targets

A number of research firms have weighed in on RHI. Barclays upgraded Robert Half from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $60.00 to $80.00 in a research note on Friday, January 3rd. JPMorgan Chase & Co. decreased their price target on Robert Half from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. BNP Paribas upgraded Robert Half from an “underperform” rating to an “outperform” rating and set a $71.50 price objective on the stock in a research report on Monday, February 10th. StockNews.com lowered shares of Robert Half from a “buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Truist Financial raised shares of Robert Half from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $90.00 in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Robert Half presently has a consensus rating of “Hold” and a consensus target price of $74.92.

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.