Covea Finance Invests $1.91 Million in Pool Corporation (NASDAQ:POOL)

Covea Finance acquired a new position in Pool Corporation (NASDAQ:POOL - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,000 shares of the specialty retailer's stock, valued at approximately $1,910,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted 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 worth $1,514,950,000 after acquiring an additional 21,870 shares in the last quarter. Wellington Management Group LLP grew its stake in Pool by 27.5% during the 4th 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 increased its holdings in Pool by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 977,862 shares of the specialty retailer's stock worth $332,566,000 after purchasing an additional 13,519 shares during the last quarter. Invesco Ltd. raised its position in shares of Pool by 6.2% in the 4th quarter. Invesco Ltd. now owns 763,817 shares of the specialty retailer's stock valued at $260,416,000 after purchasing an additional 44,884 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Pool by 25.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 636,007 shares of the specialty retailer's stock valued at $216,840,000 after purchasing an additional 129,780 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Pool Stock Performance

POOL traded up $3.52 on Friday, hitting $288.52. 713,993 shares of the company's stock were exchanged, compared to its average volume of 419,338. The company has a current ratio of 1.79, a quick ratio of 0.53 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average of $301.53 and a two-hundred day moving average of $325.94. Pool Corporation has a twelve month low of $282.22 and a twelve month high of $395.60. The firm has a market cap of $10.85 billion, a PE ratio of 27.07, a P/E/G ratio of 3.69 and a beta of 1.13.

Pool (NASDAQ:POOL - Get Free Report) last posted its earnings results 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 company had revenue of $1.07 billion for 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%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $1.85 earnings per share. On average, research analysts anticipate that Pool Corporation will post 11.32 earnings per share for the current fiscal year.

Pool Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given 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 1.73%. Pool's dividend payout ratio (DPR) is currently 46.90%.

Pool announced that its board has authorized a share buyback plan on Wednesday, April 30th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the specialty retailer to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on POOL. Oppenheimer decreased their price target on shares of Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Wall Street Zen lowered shares of Pool from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pool in a research report on Tuesday, April 1st. They issued a "hold" rating and a $344.00 target price for the company. Wells Fargo & Company set a $300.00 price target on shares of Pool in a research report on Friday, April 25th. Finally, Stifel Nicolaus set a $300.00 price target on Pool in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $336.22.

Insiders Place Their Bets

In other Pool news, SVP Jennifer M. Neil sold 1,223 shares of the business's stock in a transaction dated 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 directly owns 9,667 shares of the company's stock, valued at $3,045,105. The trade was a 11.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.

Pool Company 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.