Thrivent Financial for Lutherans Reduces Stock Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Thrivent Financial for Lutherans lowered its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 15.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,550 shares of the company’s stock after selling 1,788 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PC Connection were worth $662,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in PC Connection during the third quarter valued at approximately $28,000. Intech Investment Management LLC purchased a new position in shares of PC Connection during the 3rd quarter worth $243,000. Illinois Municipal Retirement Fund grew its position in shares of PC Connection by 6.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock valued at $452,000 after acquiring an additional 390 shares during the period. Ieq Capital LLC increased its stake in shares of PC Connection by 3.5% in the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after purchasing an additional 224 shares in the last quarter. Finally, Picton Mahoney Asset Management raised its holdings in PC Connection by 64.6% in the 4th quarter. Picton Mahoney Asset Management now owns 7,380 shares of the company’s stock worth $511,000 after purchasing an additional 2,897 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

PC Connection Stock Performance

NASDAQ CNXN opened at $63.97 on Thursday. The business’s fifty day moving average is $65.32 and its 200 day moving average is $69.62. The company has a market capitalization of $1.67 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data 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 firm earned $0.90 EPS. On average, sell-side analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were given a $0.15 dividend. This is a positive change 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%. The ex-dividend date of this dividend was Tuesday, February 25th. PC Connection’s dividend payout ratio is presently 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.