PC Connection, Inc. (NASDAQ:CNXN) to Issue Dividend Increase – $0.20 Per Share

PC Connection, Inc. (NASDAQ:CNXN) declared a quarterly dividend on Wednesday, February 4th. Stockholders of record on Tuesday, February 17th will be paid a dividend of 0.20 per share on Friday, March 6th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a 33.3% increase from PC Connection’s previous quarterly dividend of $0.15.

PC Connection has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. PC Connection has a dividend payout ratio of 15.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PC Connection to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 16.0%.

PC Connection Stock Up 4.9%

Shares of NASDAQ CNXN traded up $2.86 during midday trading on Thursday, reaching $61.65. 7,469 shares of the stock were exchanged, compared to its average volume of 75,691. The firm has a 50-day simple moving average of $58.71 and a two-hundred day simple moving average of $60.62. PC Connection has a twelve month low of $54.97 and a twelve month high of $73.31. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 1.55 and a beta of 0.83.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $702.94 million during the quarter, compared to analysts’ expectations of $735.49 million. PC Connection had a return on equity of 9.61% and a net margin of 2.91%. Research analysts expect that PC Connection will post 3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNXN. Amundi purchased a new stake in PC Connection in the 1st quarter valued at approximately $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PC Connection by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock valued at $431,000 after purchasing an additional 312 shares during the period. Millennium Management LLC increased its stake in PC Connection by 98.8% in the first quarter. Millennium Management LLC now owns 115,237 shares of the company’s stock valued at $7,193,000 after purchasing an additional 57,257 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of PC Connection by 3.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock valued at $467,000 after purchasing an additional 266 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in PC Connection by 13.3% in the second quarter. KLP Kapitalforvaltning AS now owns 14,500 shares of the company’s stock valued at $954,000 after acquiring an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

About PC Connection

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.