Teacher Retirement System of Texas Sells 111,389 Shares of Robert Half Inc. $RHI

Teacher Retirement System of Texas reduced its stake in shares of Robert Half Inc. (NYSE:RHI) by 80.8% in the third quarter, Holdings Channel reports. The fund owned 26,499 shares of the business services provider’s stock after selling 111,389 shares during the quarter. Teacher Retirement System of Texas’ holdings in Robert Half were worth $900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Robert Half during the second quarter valued at $34,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Robert Half by 927.7% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 853 shares of the business services provider’s stock valued at $35,000 after buying an additional 770 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Robert Half by 393.8% during the 2nd quarter. True Wealth Design LLC now owns 963 shares of the business services provider’s stock worth $40,000 after acquiring an additional 768 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Robert Half by 362.3% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,239 shares of the business services provider’s stock worth $42,000 after acquiring an additional 971 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in Robert Half by 20,257.1% during the third quarter. SJS Investment Consulting Inc. now owns 1,425 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,418 shares during the period. Institutional investors own 92.41% of the company’s stock.

Robert Half Trading Down 8.1%

RHI stock opened at $31.27 on Wednesday. The company’s 50 day moving average is $28.02 and its 200 day moving average is $31.42. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 23.51 and a beta of 0.88. Robert Half Inc. has a 1-year low of $25.22 and a 1-year high of $63.73.

Robert Half (NYSE:RHI) last released its quarterly earnings results on Thursday, January 29th. The business services provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Robert Half had a net margin of 2.47% and a return on equity of 10.20%. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, sell-side analysts forecast that Robert Half Inc. will post 2.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Robert Half from $24.00 to $27.00 and gave the stock a “sell” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Robert Half in a report on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating and set a $35.00 price objective on shares of Robert Half in a research note on Monday. Barclays cut their target price on Robert Half from $45.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, October 23rd. Finally, Zacks Research cut Robert Half from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $33.50.

About Robert Half

Robert Half International Inc, founded in 1948 by Robert Half, is a global professional staffing and consulting firm headquartered in Menlo Park, California. As a pioneer in specialized staffing, the company has built a reputation for matching skilled professionals with leading organizations across a range of industries. Robert Half’s shares trade on the New York Stock Exchange under the ticker RHI, reflecting its position as one of the longest‐standing and best‐known firms in the staffing sector.

The company offers a comprehensive suite of services, including temporary staffing, permanent placement, and consulting solutions.