Pool Corporation (NASDAQ:POOL) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in Pool Corporation (NASDAQ:POOL - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,178 shares of the specialty retailer's stock after selling 31,794 shares during the quarter. Envestnet Asset Management Inc. owned 1.13% of Pool worth $135,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in POOL. Vanguard Group Inc. raised its holdings in Pool by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 4,443,451 shares of the specialty retailer's stock valued at $1,514,950,000 after acquiring an additional 21,870 shares during the last quarter. Wellington Management Group LLP raised its stake in Pool by 27.5% during the fourth quarter. Wellington Management Group LLP now owns 1,042,514 shares of the specialty retailer's stock worth $355,435,000 after purchasing an additional 224,674 shares during the period. Geode Capital Management LLC raised its stake in Pool by 1.4% during the fourth 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 period. Invesco Ltd. boosted its holdings 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 during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Pool by 25.6% during 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 buying an additional 129,780 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on POOL. 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. Stephens reduced their target price on shares of Pool from $400.00 to $350.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Wells Fargo & Company upped their target price on shares of Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Pool in a research note on Tuesday, April 1st. They set a "hold" rating and a $344.00 price target on the stock. Finally, Stifel Nicolaus set a $300.00 target price on Pool in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $344.50.

Pool Stock Up 0.9%

Shares of Pool stock traded up $2.84 during trading on Thursday, reaching $311.30. The company had a trading volume of 536,880 shares, compared to its average volume of 429,406. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.53 and a current ratio of 1.79. Pool Corporation has a fifty-two week low of $282.22 and a fifty-two week high of $395.60. The firm's fifty day moving average is $301.23 and its 200-day moving average is $320.73. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 3.87 and a beta of 1.10.

Pool (NASDAQ:POOL - Get Free Report) last issued 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). Pool had a return on equity of 30.11% and a net margin of 7.77%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business posted $1.85 EPS. Pool's revenue was down 4.4% compared to the same quarter last year. On average, analysts anticipate that Pool Corporation will post 11.32 EPS for the current year.

Pool Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a dividend of $1.25 per share. This is an increase from Pool's previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, May 15th. Pool's dividend payout ratio is presently 46.90%.

Pool announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 30th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.