Handelsbanken Fonder AB Has $30.35 Million Stock Position in Pool Co. (NASDAQ:POOL)

Handelsbanken Fonder AB lessened its stake in Pool Co. (NASDAQ:POOL - Free Report) by 24.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,344 shares of the specialty retailer's stock after selling 31,000 shares during the quarter. Handelsbanken Fonder AB owned about 0.25% of Pool worth $30,353,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Focus Partners Wealth increased its stake in Pool by 907.2% during the 4th quarter. Focus Partners Wealth now owns 37,399 shares of the specialty retailer's stock worth $12,768,000 after buying an additional 33,686 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Pool by 816.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,860 shares of the specialty retailer's stock worth $13,601,000 after acquiring an additional 36,403 shares during the last quarter. L. Roy Papp & Associates LLP acquired a new position in shares of Pool in the fourth quarter worth about $653,000. Signal Advisors Wealth LLC boosted its holdings in Pool by 40.4% in the first quarter. Signal Advisors Wealth LLC now owns 3,383 shares of the specialty retailer's stock valued at $1,077,000 after purchasing an additional 974 shares during the last quarter. Finally, World Equity Group Inc. acquired a new position in shares of Pool in the 4th quarter valued at approximately $272,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Pool Price Performance

POOL traded down $2.28 on Thursday, reaching $297.70. The company had a trading volume of 172,459 shares, compared to its average volume of 413,310. The company has a fifty day moving average of $303.72 and a 200-day moving average of $330.96. The company has a market capitalization of $11.19 billion, a P/E ratio of 26.39, a PEG ratio of 2.03 and a beta of 1.12. The company has a current ratio of 2.05, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71. Pool Co. has a one year low of $284.28 and a one year high of $395.60.

Pool (NASDAQ:POOL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.10). Pool had a net margin of 8.18% and a return on equity of 31.11%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business earned $1.85 earnings per share. The company's revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that Pool Co. 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 dividend of $1.25 per share. This is a positive change from Pool's previous quarterly dividend of $1.20. The ex-dividend date was Thursday, May 15th. This represents a $5.00 annualized dividend and a dividend yield of 1.68%. Pool's dividend payout ratio (DPR) is 46.90%.

Pool announced that its board has initiated a share buyback plan on Wednesday, April 30th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on POOL. Wall Street Zen lowered shares of Pool from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Robert W. Baird cut their price objective on Pool from $325.00 to $310.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Oppenheimer decreased their target price on Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Pool in a report on Tuesday, April 1st. They issued a "hold" rating and a $344.00 price target for the company. Finally, Stephens decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $336.22.

Insider Buying and Selling

In related news, SVP Jennifer M. Neil sold 1,223 shares of Pool stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $315.00, for a total value of $385,245.00. Following the transaction, the senior vice president now owns 9,667 shares of the company's stock, valued at approximately $3,045,105. This trade represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company's stock.

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.