Allianz Asset Management GmbH Has $10.35 Million Holdings in Pool Corporation (NASDAQ:POOL)

Key Points

• Allianz Asset Management GmbH reduced its holdings in Pool Corporation by 6.9% to approximately $10.35 million in the most recent quarter.
• Pool Corporation announced a $600 million stock repurchase plan, indicating management's belief that the shares are undervalued.
• The company recently raised its quarterly dividend from $1.20 to $1.25, reflecting confidence in its ongoing profitability.

Allianz Asset Management GmbH reduced its position in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,495 shares of the specialty retailer's stock after selling 2,426 shares during the quarter. Allianz Asset Management GmbH owned 0.09% of Pool worth $10,345,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its holdings in Pool by 7.8% during the first quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock worth $149,000 after purchasing an additional 34 shares during the period. Second Line Capital LLC lifted its position in shares of Pool by 4.1% in the fourth quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer's stock valued at $303,000 after buying an additional 35 shares during the last quarter. Tidal Investments LLC boosted its stake 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 worth $2,283,000 after acquiring an additional 35 shares during the period. PUREfi Wealth LLC increased 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 worth $246,000 after acquiring an additional 38 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Pool by 20.3% in the 1st quarter. Blue Trust Inc. now owns 225 shares of the specialty retailer's stock valued at $72,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Pool Trading Down 1.1%

Shares of NASDAQ:POOL traded down $3.42 during midday trading on Monday, hitting $321.48. 561,384 shares of the stock were exchanged, compared to its average volume of 528,389. The business's 50-day moving average price is $301.28 and its 200 day moving average price is $317.77. Pool Corporation has a 12 month low of $282.22 and a 12 month high of $395.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.87 and a current ratio of 2.52. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 4.53 and a beta of 1.10.

Pool (NASDAQ:POOL - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.12 by $0.05. The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.79 billion. Pool had a return on equity of 30.99% and a net margin of 7.79%. The firm's revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $4.99 earnings per share. Analysts predict that Pool Corporation will post 11.32 earnings per share for the current year.

Pool Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, May 15th. This represents a $5.00 annualized dividend and a yield of 1.56%. This is a boost from Pool's previous quarterly dividend of $1.20. Pool's dividend payout ratio (DPR) is currently 46.13%.

Pool declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 30th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on POOL. Wall Street Zen raised shares of Pool from a "sell" rating to a "hold" rating in a research report on Saturday. Stephens reduced their target price on shares of Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pool in a research note on Tuesday, April 1st. They issued a "hold" rating and a $344.00 price target on the stock. Oppenheimer dropped their price objective on shares of Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, Wells Fargo & Company raised their price objective on Pool from $300.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $338.71.

Pool Company Profile

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.