Envestnet Asset Management Inc. Sells 31,794 Shares of Pool Corporation (NASDAQ:POOL)

Envestnet Asset Management Inc. trimmed its holdings in Pool Corporation (NASDAQ:POOL - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund 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.

A number of other hedge funds have also recently made changes to their positions in POOL. Rakuten Securities Inc. raised its holdings in Pool by 2,300.0% during the 4th quarter. Rakuten Securities Inc. now owns 72 shares of the specialty retailer's stock valued at $25,000 after buying an additional 69 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in Pool by 471.4% during the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the specialty retailer's stock valued at $25,000 after buying an additional 66 shares during the last quarter. City Holding Co. bought a new stake in Pool during the 1st quarter valued at $26,000. Atala Financial Inc bought a new stake in Pool during the 4th quarter valued at $29,000. Finally, Sentry Investment Management LLC bought a new stake in Pool during the 1st quarter valued at $30,000. 98.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

POOL has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pool in a report on Tuesday, April 1st. They set a "hold" rating and a $344.00 price target for the company. Stephens lowered their price target on shares of Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Robert W. Baird lowered their price target on shares of Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Wells Fargo & Company upped their price target on shares of Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, Oppenheimer reduced their price objective on shares of Pool from $370.00 to $322.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $344.50.

Pool Stock Up 1.9%

Shares of Pool stock opened at $308.46 on Thursday. The company's fifty day simple moving average is $301.23 and its two-hundred day simple moving average is $320.73. The company has a market cap of $11.60 billion, a P/E ratio of 28.94, a PEG ratio of 3.87 and a beta of 1.10. 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 Corporation has a 12-month low of $282.22 and a 12-month high of $395.60.

Pool (NASDAQ:POOL - Get Free Report) last released 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). The business had revenue of $1.07 billion during 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 quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 earnings per share. Research analysts anticipate that Pool Corporation will post 11.32 EPS for the current year.

Pool Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $1.25 dividend. The ex-dividend date was Thursday, May 15th. 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 dividend yield of 1.62%. Pool's dividend payout ratio is currently 46.90%.

Pool announced that its board has authorized a share buyback program on Wednesday, April 30th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.

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