Forsta AP Fonden Sells 1,000 Shares of Pool Corporation (NASDAQ:POOL)

Key Points

• Forsta AP Fonden has reduced its stake in Pool Corporation by 11.8%, selling 1,000 shares, and now holds 7,500 shares valued at approximately $2.39 million.
• Multiple institutional investors have increased their holdings in Pool, with Citigroup boosting its stake by 107.8% and Ontario Teachers Pension Plan Board raising its position by 127.1% during the first quarter.
• Pool Corporation announced a $600 million stock buyback plan and a quarterly dividend of $1.25 per share, reflecting the board's confidence in the stock's valuation.

Forsta AP Fonden lowered its stake in Pool Corporation (NASDAQ:POOL - Free Report) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,500 shares of the specialty retailer's stock after selling 1,000 shares during the quarter. Forsta AP Fonden's holdings in Pool were worth $2,388,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Citigroup Inc. lifted its stake in Pool by 107.8% in the first quarter. Citigroup Inc. now owns 41,097 shares of the specialty retailer's stock valued at $13,083,000 after buying an additional 21,319 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Pool by 17.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 70,755 shares of the specialty retailer's stock valued at $22,525,000 after buying an additional 10,421 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of Pool by 127.1% in the first quarter. Ontario Teachers Pension Plan Board now owns 8,494 shares of the specialty retailer's stock worth $2,704,000 after purchasing an additional 4,753 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Pool by 4.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 368,583 shares of the specialty retailer's stock worth $117,338,000 after purchasing an additional 14,422 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Pool in the first quarter worth $294,000. Institutional investors own 98.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stifel Nicolaus set a $300.00 price objective on shares of Pool in a research report on Friday, April 25th. Wall Street Zen raised shares of Pool from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Wells Fargo & Company boosted their price objective on shares of Pool from $300.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Stephens cut their price objective 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. Finally, Oppenheimer boosted their price objective on shares of Pool from $322.00 to $346.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Six equities research analysts have rated the stock with a hold rating and two 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 $342.14.

Pool Stock Performance

NASDAQ POOL opened at $306.65 on Tuesday. The company has a current ratio of 2.52, a quick ratio of 0.87 and a debt-to-equity ratio of 0.93. The firm's fifty day moving average price is $302.70 and its two-hundred day moving average price is $314.90. Pool Corporation has a 1 year low of $282.22 and a 1 year high of $395.60. The firm has a market capitalization of $11.44 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 4.22 and a beta of 1.07.

Pool (NASDAQ:POOL - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.05. Pool had a net margin of 7.79% and a return on equity of 30.99%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the firm posted $4.99 earnings per share. The company's quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that Pool Corporation will post 11.32 EPS for the current year.

Pool declared that its board has approved a stock buyback plan on Wednesday, April 30th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Pool Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, August 14th. Pool's payout ratio is currently 46.13%.

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.

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