Envestnet Portfolio Solutions Inc. Sells 2,958 Shares of Pool Corporation (NASDAQ:POOL)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,675 shares of the specialty retailer's stock after selling 2,958 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Pool were worth $1,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its stake in Pool by 7.8% during the 1st quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock valued at $149,000 after acquiring an additional 34 shares in the last quarter. Second Line Capital LLC grew its stake in Pool by 4.1% during the 4th quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer's stock valued at $303,000 after acquiring an additional 35 shares in the last quarter. Tidal Investments LLC grew its stake in Pool by 0.5% during the 4th quarter. Tidal Investments LLC now owns 6,696 shares of the specialty retailer's stock valued at $2,283,000 after acquiring an additional 35 shares in the last quarter. PUREfi Wealth LLC grew its stake in Pool by 5.2% during the 1st quarter. PUREfi Wealth LLC now owns 773 shares of the specialty retailer's stock valued at $246,000 after acquiring an additional 38 shares in the last quarter. Finally, Waterloo Capital L.P. grew its stake in Pool by 7.1% during the 4th quarter. Waterloo Capital L.P. now owns 635 shares of the specialty retailer's stock valued at $216,000 after acquiring an additional 42 shares in the last quarter. Institutional investors and hedge funds own 98.99% of the company's stock.

Analyst Upgrades and Downgrades

POOL has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Pool in a research note on Tuesday, April 1st. They set a "hold" rating and a $344.00 target price on the stock. Wall Street Zen cut Pool from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Robert W. Baird lowered their price target on Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Wells Fargo & Company set a $300.00 price target on Pool in a research note on Friday, April 25th. Finally, Oppenheimer lowered their price target on Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Pool has a consensus rating of "Hold" and an average target price of $342.00.

Insider Activity

In related news, SVP Jennifer M. Neil sold 1,223 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $315.00, for a total value 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. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.

Pool Stock Performance

Pool stock traded down $1.49 during trading hours on Friday, reaching $292.77. 2,177,454 shares of the company were exchanged, compared to its average volume of 420,737. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 3.74 and a beta of 1.12. 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 50-day moving average of $300.48 and a 200 day moving average of $323.50. 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 announced its earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share (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 the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.85 EPS. As a group, research analysts anticipate that Pool Corporation will post 11.32 earnings per share for the current year.

Pool Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.71%. This is a boost from Pool's previous quarterly dividend of $1.20. The ex-dividend date was Thursday, May 15th. Pool's dividend payout ratio is currently 46.90%.

Pool declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 30th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors 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.