1,558 Shares in Pool Corporation (NASDAQ:POOL) Bought by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC invested approximately $491,000 in Pool Corporation by acquiring 1,558 shares during Q1, as disclosed in their 13F filing.
• Pool Corporation reported $5.17 earnings per share for the latest quarter, surpassing analysts' expectations of $5.12, with a revenue of $1.78 billion.
• The company has authorized a $600 million share repurchase plan, indicating management's belief that its stock is undervalued.

CCM Investment Group LLC bought a new stake in shares of Pool Corporation (NASDAQ:POOL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,558 shares of the specialty retailer's stock, valued at approximately $491,000.

Other large investors have also recently modified their holdings of the company. AdvisorNet Financial Inc grew its position in Pool by 7.8% during the first quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock valued at $149,000 after buying an additional 34 shares during the period. Second Line Capital LLC grew its position in Pool by 4.1% during 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 period. Tidal Investments LLC grew its position in 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 period. PUREfi Wealth LLC grew its position in 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 period. Finally, Blue Trust Inc. grew its position in 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 period. Institutional investors own 98.99% of the company's stock.

Pool Price Performance

Shares of POOL traded down $4.64 during mid-day trading on Thursday, reaching $326.09. The stock had a trading volume of 610,679 shares, compared to its average volume of 517,650. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 30.08, a PEG ratio of 4.33 and a beta of 1.07. Pool Corporation has a 12 month low of $282.22 and a 12 month high of $395.60. The business has a fifty day moving average of $303.28 and a 200 day moving average of $315.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.87 and a current ratio of 2.52.

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

Pool declared that its Board of Directors has authorized a share buyback program on Wednesday, April 30th that authorizes the company to buyback $600.00 million in 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 usually an indication that the company's board believes its shares are undervalued.

Pool Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.5%. Pool's dividend payout ratio is currently 46.13%.

Analyst Ratings Changes

POOL has been the subject of several recent research reports. Oppenheimer boosted their target price on shares of Pool from $322.00 to $346.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Stifel Nicolaus set a $300.00 target price on shares of Pool in a research report on Friday, April 25th. Wall Street Zen upgraded shares of Pool from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Wells Fargo & Company upped their price target on shares of Pool from $300.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Robert W. Baird upped their price target on shares of Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $342.14.

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.