Bessemer Group Inc. Has $1.14 Million Stake in Pool Corporation (NASDAQ:POOL)

Bessemer Group Inc. trimmed its position in Pool Corporation (NASDAQ:POOL - Free Report) by 97.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,567 shares of the specialty retailer's stock after selling 156,472 shares during the quarter. Bessemer Group Inc.'s holdings in Pool were worth $1,137,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Pool by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,443,451 shares of the specialty retailer's stock valued at $1,514,950,000 after purchasing an additional 21,870 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Pool by 27.5% in the fourth quarter. Wellington Management Group LLP now owns 1,042,514 shares of the specialty retailer's stock valued at $355,435,000 after purchasing an additional 224,674 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Pool by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 977,862 shares of the specialty retailer's stock valued at $332,566,000 after purchasing an additional 13,519 shares in the last quarter. Invesco Ltd. raised its stake in Pool by 6.2% during the fourth quarter. Invesco Ltd. now owns 763,817 shares of the specialty retailer's stock worth $260,416,000 after acquiring an additional 44,884 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Pool by 25.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 636,007 shares of the specialty retailer's stock worth $216,840,000 after acquiring an additional 129,780 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Pool Price Performance

Pool stock opened at $292.77 on Monday. The business's 50-day simple moving average is $300.48 and its 200 day simple moving average is $323.18. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 3.74 and a beta of 1.12. Pool Corporation has a 12-month low of $282.22 and a 12-month high of $395.60. 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 (NASDAQ:POOL - Get Free Report) last posted its quarterly 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 firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $1.85 EPS. As a group, research analysts anticipate that Pool Corporation will post 11.32 earnings per share for the current year.

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

Pool Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $1.25 per share. This is a boost from Pool's previous quarterly dividend of $1.20. The ex-dividend date was Thursday, May 15th. This represents a $5.00 annualized dividend and a dividend yield of 1.71%. Pool's payout ratio is presently 46.90%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on POOL shares. Robert W. Baird dropped their price objective on Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Oppenheimer dropped their price objective on Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Stephens dropped their price objective on Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Pool in a research note on Tuesday, April 1st. They issued a "hold" rating and a $344.00 target price for the company. Finally, Wells Fargo & Company set a $300.00 target price on Pool in a research note on Friday, April 25th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $342.00.

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.

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