Los Angeles Capital Management LLC Reduces Stake in PC Connection, Inc. (NASDAQ:CNXN)

Los Angeles Capital Management LLC lowered its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 31.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,717 shares of the company’s stock after selling 6,393 shares during the quarter. Los Angeles Capital Management LLC owned about 0.05% of PC Connection worth $950,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in PC Connection during the 3rd quarter worth approximately $28,000. Intech Investment Management LLC acquired a new position in shares of PC Connection in the third quarter valued at approximately $243,000. Amalgamated Bank increased its holdings in shares of PC Connection by 4.6% in the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after purchasing an additional 154 shares during the period. New York State Teachers Retirement System increased its holdings in shares of PC Connection by 4.9% in the third quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock valued at $348,000 after purchasing an additional 216 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of PC Connection by 5.3% in the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock valued at $453,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

PC Connection Price Performance

PC Connection stock opened at $63.80 on Friday. PC Connection, Inc. has a 1-year low of $57.47 and a 1-year high of $77.19. The company has a market cap of $1.67 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The stock’s 50 day moving average price is $68.81 and its 200 day moving average price is $70.87.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same period in the previous year, the company earned $0.90 earnings per share. On average, equities research analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, February 25th. This is an increase from PC Connection’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. PC Connection’s payout ratio is 18.24%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.