KLP Kapitalforvaltning AS Invests $436,000 in PC Connection, Inc. (NASDAQ:CNXN)

KLP Kapitalforvaltning AS acquired a new position in PC Connection, Inc. (NASDAQ:CNXN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,300 shares of the company’s stock, valued at approximately $436,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ieq Capital LLC raised its stake in shares of PC Connection by 3.5% during the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock valued at $457,000 after purchasing an additional 224 shares during the period. Rhumbline Advisers increased its position in shares of PC Connection by 0.4% during the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock valued at $5,918,000 after buying an additional 298 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the third quarter worth about $28,000. Illinois Municipal Retirement Fund lifted its holdings in shares of PC Connection by 6.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock worth $452,000 after buying an additional 390 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of PC Connection by 5.2% in the third quarter. Public Sector Pension Investment Board now owns 26,242 shares of the company’s stock valued at $1,979,000 after acquiring an additional 1,300 shares during the period. 42.85% of the stock is currently owned by institutional investors.

PC Connection Trading Down 2.0 %

PC Connection stock opened at $59.70 on Friday. The firm’s 50 day simple moving average is $64.82 and its 200 day simple moving average is $69.46. PC Connection, Inc. has a 1-year low of $57.47 and a 1-year high of $77.19. The firm has a market capitalization of $1.56 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Research analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, February 25th. This is an increase from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s dividend payout ratio (DPR) is 18.24%.

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.