Cresset Asset Management LLC Sells 2,925 Shares of Pool Co. (NASDAQ:POOL)

Cresset Asset Management LLC lowered its stake in shares of Pool Co. (NASDAQ:POOL - Free Report) by 55.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,375 shares of the specialty retailer's stock after selling 2,925 shares during the quarter. Cresset Asset Management LLC's holdings in Pool were worth $810,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in POOL. Rakuten Securities Inc. lifted its position in Pool by 2,300.0% in the 4th quarter. Rakuten Securities Inc. now owns 72 shares of the specialty retailer's stock worth $25,000 after buying an additional 69 shares during the last quarter. Atala Financial Inc purchased a new stake in shares of Pool in the 4th quarter valued at $29,000. Sierra Ocean LLC purchased a new position in Pool in the 4th quarter worth $30,000. Private Trust Co. NA boosted its position in Pool by 76.9% during the fourth quarter. Private Trust Co. NA now owns 138 shares of the specialty retailer's stock valued at $47,000 after buying an additional 60 shares during the period. Finally, YANKCOM Partnership bought a new position in shares of Pool during the fourth quarter valued at about $61,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Pool Price Performance

Shares of POOL opened at $319.02 on Tuesday. The firm's 50-day simple moving average is $313.78 and its two-hundred day simple moving average is $339.44. The stock has a market cap of $11.99 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. Pool Co. has a fifty-two week low of $284.28 and a fifty-two week high of $395.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 2.05.

Pool (NASDAQ:POOL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $1.32 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.10). The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.10 billion. Pool had a net margin of 8.18% and a return on equity of 31.11%. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.85 earnings per share. Analysts anticipate that Pool Co. will post 11.32 earnings per share for the current fiscal year.

Pool announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 30th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Pool Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $5.00 annualized dividend and a yield of 1.57%. This is a boost from Pool's previous quarterly dividend of $1.20. Pool's dividend payout ratio is currently 46.90%.

Insider Activity

In other news, SVP Jennifer M. Neil sold 1,223 shares of Pool stock in a transaction on Monday, March 31st. The shares were sold at an average price of $315.00, for a total transaction of $385,245.00. Following the transaction, the senior vice president now owns 9,667 shares in the company, valued at $3,045,105. This trade represents a 11.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director De La Mesa Manuel J. Perez sold 10,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $346.00, for a total value of $3,460,000.00. Following the completion of the transaction, the director now directly owns 62,577 shares in the company, valued at $21,651,642. This trade represents a 13.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on POOL. StockNews.com downgraded Pool from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Robert W. Baird cut their price target on shares of Pool from $325.00 to $310.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company set a $300.00 price target on Pool in a report on Friday, April 25th. Stifel Nicolaus set a $300.00 price target on Pool in a research report on Friday, April 25th. Finally, Oppenheimer decreased their target price on Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $336.22.

About Pool

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.

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