Bridges Investment Management Inc. Buys 2,182 Shares of Pool Corporation (NASDAQ:POOL)

Bridges Investment Management Inc. grew its stake in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 3.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 70,984 shares of the specialty retailer's stock after acquiring an additional 2,182 shares during the period. Bridges Investment Management Inc. owned about 0.19% of Pool worth $22,598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of POOL. Focus Partners Wealth raised its stake in Pool by 907.2% during the 4th quarter. Focus Partners Wealth now owns 37,399 shares of the specialty retailer's stock valued at $12,768,000 after purchasing an additional 33,686 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Pool by 12.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,954 shares of the specialty retailer's stock valued at $1,560,000 after purchasing an additional 559 shares during the period. Amalgamated Bank raised its stake in Pool by 3.1% during the 1st quarter. Amalgamated Bank now owns 8,076 shares of the specialty retailer's stock valued at $2,571,000 after purchasing an additional 246 shares during the period. MFG Wealth Management Inc. acquired a new stake in Pool during the 1st quarter valued at $921,000. Finally, Signal Advisors Wealth LLC raised its stake in Pool by 40.4% during the 1st quarter. Signal Advisors Wealth LLC now owns 3,383 shares of the specialty retailer's stock valued at $1,077,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Pool Price Performance

Shares of NASDAQ POOL traded up $5.31 during midday trading on Thursday, reaching $313.77. 235,024 shares of the company were exchanged, compared to its average volume of 512,574. The stock's 50-day moving average price is $301.23 and its 200-day moving average price is $320.73. The stock has a market cap of $11.80 billion, a P/E ratio of 29.43, a PEG ratio of 3.87 and a beta of 1.10. Pool Corporation has a one year low of $282.22 and a one year 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 earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm posted $1.85 EPS. The business's quarterly revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Pool Corporation will post 11.32 earnings per share for the current fiscal year.

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.

Pool Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $1.25 dividend. This is a positive change 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 yield of 1.59%. Pool's payout ratio is presently 46.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on POOL. Deutsche Bank Aktiengesellschaft initiated coverage on Pool in a report on Tuesday, April 1st. They set a "hold" rating and a $344.00 price objective for the company. Stifel Nicolaus set a $300.00 price target on Pool in a research note on Friday, April 25th. Stephens lowered their price target 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 lifted their price objective on Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Robert W. Baird reduced their target price on Pool from $325.00 to $310.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pool presently has an average rating of "Hold" and a consensus target price of $344.50.

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.