Asset Management One Co. Ltd. boosted its stake in Pool Corporation (NASDAQ:POOL - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,428 shares of the specialty retailer's stock after acquiring an additional 1,237 shares during the period. Asset Management One Co. Ltd. owned 0.08% of Pool worth $9,981,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. AdvisorNet Financial Inc raised its position in Pool by 7.8% in the first quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock worth $149,000 after acquiring an additional 34 shares during the period. Second Line Capital LLC raised its position in Pool by 4.1% in the fourth quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer's stock worth $303,000 after acquiring an additional 35 shares during the period. Tidal Investments LLC raised its position in Pool by 0.5% in the fourth 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 raised its position in Pool by 5.2% in the first 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 period. Finally, Blue Trust Inc. raised its position in Pool by 20.3% in the first quarter. Blue Trust Inc. now owns 225 shares of the specialty retailer's stock worth $72,000 after acquiring an additional 38 shares during the period. Institutional investors own 98.99% of the company's stock.
Insider Activity at Pool
In related news, SVP Jennifer M. Neil sold 1,223 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 9,667 shares of the company's stock, valued at approximately $3,045,105. The trade was a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts have commented on POOL shares. Stifel Nicolaus set a $300.00 price objective on shares of Pool in a research report on Friday, April 25th. Wells Fargo & Company set a $300.00 price objective on shares of Pool in a research report 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 for the company in a research note on Friday, April 25th. 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 note on Monday, April 28th. Finally, Oppenheimer reduced their target price 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. One equities 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.com, the company currently has a consensus rating of "Hold" and an average target price of $342.00.
Check Out Our Latest Analysis on POOL
Pool Stock Performance
Shares of POOL traded down $1.49 during trading hours on Friday, hitting $292.77. The company's stock had a trading volume of 2,177,454 shares, compared to its average volume of 422,876. The company has a market cap of $11.01 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 3.81 and a beta of 1.12. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 0.53. The business has a 50 day simple moving average of $300.75 and a two-hundred day simple moving average of $324.43. Pool Corporation has a 52-week low of $282.22 and a 52-week 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). 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 7.77% and a return on equity of 30.11%. Pool's revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.85 EPS. On average, equities analysts expect that Pool Corporation will post 11.32 earnings per share for the current fiscal year.
Pool announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.
Pool Increases Dividend
The company also recently disclosed 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 1.71%. This is a boost from Pool's previous quarterly dividend of $1.20. Pool's payout ratio is currently 46.90%.
About Pool
(
Free Report)
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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