MFG Wealth Management Inc. Acquires Shares of 2,894 Pool Corporation (NASDAQ:POOL)

MFG Wealth Management Inc. acquired a new stake in shares of Pool Corporation (NASDAQ:POOL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,894 shares of the specialty retailer's stock, valued at approximately $921,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its position in Pool by 7.8% during the first quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock valued at $149,000 after purchasing an additional 34 shares in the last quarter. Second Line Capital LLC increased its position in shares of Pool by 4.1% during the 4th quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer's stock valued at $303,000 after purchasing an additional 35 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Pool by 0.5% during the 4th quarter. Tidal Investments LLC now owns 6,696 shares of the specialty retailer's stock valued at $2,283,000 after buying an additional 35 shares in the last quarter. PUREfi Wealth LLC raised its holdings in shares of Pool by 5.2% during the 1st quarter. PUREfi Wealth LLC now owns 773 shares of the specialty retailer's stock valued at $246,000 after buying an additional 38 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Pool by 20.3% in the 1st quarter. Blue Trust Inc. now owns 225 shares of the specialty retailer's stock worth $72,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

Insider Buying and Selling at Pool

In related news, SVP Jennifer M. Neil sold 1,223 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $315.00, for a total value of $385,245.00. Following the completion of the transaction, the senior vice president now directly 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

POOL has been the topic of several research reports. Wells Fargo & Company set a $300.00 price target on shares of Pool in a research note on Friday, April 25th. Robert W. Baird reduced their target price 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pool in a research report on Tuesday, April 1st. They issued a "hold" rating and a $344.00 target price on the stock. Stifel Nicolaus set a $300.00 price target on shares of Pool in a research report on Friday, April 25th. Finally, Oppenheimer decreased their price objective on Pool from $370.00 to $322.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Pool has an average rating of "Hold" and a consensus price target of $342.00.

Pool Trading Up 0.6%

Shares of NASDAQ:POOL traded up $1.86 on Friday, hitting $296.12. The company had a trading volume of 168,812 shares, compared to its average volume of 414,997. The firm's 50-day simple moving average is $300.75 and its two-hundred day simple moving average is $324.43. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 3.81 and a beta of 1.12. The company has a quick ratio of 0.53, a current ratio of 1.79 and a debt-to-equity ratio of 0.78. Pool Corporation has a 1 year low of $282.22 and a 1 year high of $395.60.

Pool (NASDAQ:POOL - Get Free Report) last issued 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). Pool had a return on equity of 30.11% and a net margin of 7.77%. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter last year, the business earned $1.85 earnings per share. The business's quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts anticipate that Pool Corporation will post 11.32 earnings per share for the current fiscal year.

Pool announced that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $1.25 dividend. This is an increase from Pool's previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $5.00 dividend on an annualized basis and a yield of 1.69%. Pool's dividend payout ratio is 46.90%.

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.