Texas Permanent School Fund Buys 815 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Texas Permanent School Fund increased its stake in shares of Resources Connection, Inc. (NASDAQ:RGPGet Rating) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,492 shares of the company’s stock after buying an additional 815 shares during the quarter. Texas Permanent School Fund’s holdings in Resources Connection were worth $458,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RGP. Covestor Ltd lifted its position in shares of Resources Connection by 483.7% during the 1st quarter. Covestor Ltd now owns 1,652 shares of the company’s stock worth $28,000 after buying an additional 1,369 shares during the period. Captrust Financial Advisors raised its position in Resources Connection by 41.7% in the 1st quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock valued at $46,000 after purchasing an additional 783 shares during the last quarter. State of Tennessee Treasury Department raised its position in Resources Connection by 17.9% in the 1st quarter. State of Tennessee Treasury Department now owns 11,601 shares of the company’s stock valued at $199,000 after purchasing an additional 1,758 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Resources Connection in the 1st quarter valued at $208,000. Finally, Atria Wealth Solutions Inc. bought a new position in Resources Connection in the 1st quarter valued at $216,000. Institutional investors own 84.12% of the company’s stock.

Resources Connection Stock Up 0.6 %

NASDAQ RGP opened at $19.49 on Wednesday. The stock has a fifty day moving average of $18.14 and a 200-day moving average of $18.97. The stock has a market capitalization of $657.81 million, a P/E ratio of 8.99 and a beta of 0.77. Resources Connection, Inc. has a 52 week low of $15.69 and a 52 week high of $23.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.86 and a current ratio of 2.86.

Resources Connection (NASDAQ:RGPGet Rating) last released its earnings results on Wednesday, October 5th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.29 by $0.24. The company had revenue of $204.06 million during the quarter, compared to analysts’ expectations of $197.47 million. Resources Connection had a return on equity of 19.48% and a net margin of 8.76%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. On average, equities research analysts forecast that Resources Connection, Inc. will post 1.79 EPS for the current year.

Resources Connection Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.56 annualized dividend and a dividend yield of 2.87%. Resources Connection’s dividend payout ratio (DPR) is currently 26.17%.

Insider Activity

In related news, Director Maltzan Marco Von acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The stock was acquired at an average cost of $15.91 per share, with a total value of $31,820.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at $31,820. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Anthony Cherbak sold 22,500 shares of Resources Connection stock in a transaction on Friday, October 7th. The stock was sold at an average price of $16.03, for a total transaction of $360,675.00. Following the completion of the sale, the director now directly owns 40,395 shares of the company’s stock, valued at $647,531.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Maltzan Marco Von acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were bought at an average cost of $15.91 per share, with a total value of $31,820.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at $31,820. The disclosure for this purchase can be found here. Insiders own 7.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RGP. Robert W. Baird lifted their price objective on Resources Connection from $21.00 to $25.00 in a research report on Monday, August 1st. StockNews.com upgraded Resources Connection from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 27th. Finally, Bank of America upgraded Resources Connection from an “underperform” rating to a “neutral” rating in a research report on Monday, November 14th.

Resources Connection Company Profile

(Get Rating)

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.

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Institutional Ownership by Quarter for Resources Connection (NASDAQ:RGP)

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