Bank of New York Mellon Corp Raises Position in Pool Corporation (NASDAQ:POOL)

Bank of New York Mellon Corp boosted its position in Pool Corporation (NASDAQ:POOL - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 444,337 shares of the specialty retailer's stock after acquiring an additional 24,418 shares during the quarter. Bank of New York Mellon Corp owned 1.18% of Pool worth $141,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its stake in Pool by 7.8% in the first quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock valued at $149,000 after acquiring an additional 34 shares during the last quarter. Second Line Capital LLC increased its stake in 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 acquiring an additional 35 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Pool by 0.5% during the fourth 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 during the last quarter. PUREfi Wealth LLC grew its stake in shares of Pool by 5.2% during the first quarter. PUREfi Wealth LLC now owns 773 shares of the specialty retailer's stock valued at $246,000 after buying an additional 38 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Pool by 20.3% during the first quarter. Blue Trust Inc. now owns 225 shares of the specialty retailer's stock valued at $72,000 after buying an additional 38 shares during the last quarter. Institutional investors own 98.99% of the company's stock.

Pool Trading Down 1.6%

Shares of NASDAQ POOL traded down $4.98 during trading hours on Friday, hitting $306.32. The company's stock had a trading volume of 435,877 shares, compared to its average volume of 426,172. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.53 and a current ratio of 1.79. The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 3.91 and a beta of 1.10. Pool Corporation has a 12 month low of $282.22 and a 12 month high of $395.60. The business has a 50-day simple moving average of $301.52 and a 200-day simple moving average of $319.95.

Pool (NASDAQ:POOL - Get Free Report) last posted its earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.10). The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. Pool had a return on equity of 30.11% and a net margin of 7.77%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 earnings per share. On average, 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 approved a stock buyback program on Wednesday, April 30th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Pool Increases Dividend

The business 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. The ex-dividend date was Thursday, May 15th. This is a positive change from Pool's previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.63%. Pool's dividend payout ratio (DPR) is 46.90%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on POOL shares. Robert W. Baird reduced their price objective on Pool from $325.00 to $310.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus set a $300.00 price objective on Pool in a research note on Friday, April 25th. Stephens reduced their price objective on Pool from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company raised their price objective on Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Pool in a research note on Tuesday, April 1st. They set a "hold" rating and a $344.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $344.50.

Pool 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.