Edgestream Partners L.P. Increases Position in Pool Corporation (NASDAQ:POOL)

Edgestream Partners L.P. boosted its holdings in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 90.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,642 shares of the specialty retailer's stock after buying an additional 5,531 shares during the quarter. Edgestream Partners L.P.'s holdings in Pool were worth $3,706,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc grew its holdings in Pool by 7.8% in the first quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock worth $149,000 after purchasing an additional 34 shares during the last quarter. Second Line Capital LLC grew its holdings in Pool by 4.1% in the fourth quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer's stock worth $303,000 after purchasing an additional 35 shares during the last quarter. Tidal Investments LLC grew its holdings in Pool by 0.5% in the fourth quarter. Tidal Investments LLC now owns 6,696 shares of the specialty retailer's stock worth $2,283,000 after purchasing an additional 35 shares during the last quarter. PUREfi Wealth LLC lifted 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 worth $246,000 after buying an additional 38 shares during the period. Finally, Blue Trust Inc. lifted 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 worth $72,000 after buying an additional 38 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on POOL. Oppenheimer lowered their price objective on shares of Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company boosted their target price on shares of Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Stephens decreased their target price on shares of Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Robert W. Baird decreased their target price on shares of Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Pool in a research report on Tuesday, April 1st. They set a "hold" rating and a $344.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Pool presently has a consensus rating of "Hold" and a consensus target price of $344.50.

Pool Price Performance

Shares of Pool stock traded up $2.59 during trading hours on Friday, reaching $301.40. The stock had a trading volume of 205,317 shares, compared to its average volume of 515,136. The stock's 50 day moving average is $301.24 and its 200 day moving average is $318.78. The firm has a market capitalization of $11.33 billion, a PE ratio of 28.21, a PEG ratio of 3.74 and a beta of 1.10. Pool Corporation has a twelve month low of $282.22 and a twelve month high of $395.60. The company has a current ratio of 1.79, a quick ratio of 0.53 and a debt-to-equity ratio of 0.78.

Pool (NASDAQ:POOL - Get Free Report) last released its earnings results on Thursday, April 24th. The specialty retailer reported $1.32 EPS for the quarter, missing analysts' consensus estimates of $1.42 by ($0.10). The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.85 EPS. Equities analysts expect that Pool Corporation will post 11.32 earnings per share for the current fiscal year.

Pool announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the specialty retailer to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Pool Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, May 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Pool's previous quarterly dividend of $1.20. Pool's payout ratio is currently 46.90%.

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.