Pool Co. (NASDAQ:POOL) Holdings Decreased by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its position in shares of Pool Co. (NASDAQ:POOL - Free Report) by 24.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,344 shares of the specialty retailer's stock after selling 31,000 shares during the period. Handelsbanken Fonder AB owned 0.25% of Pool worth $30,353,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in Pool by 1,486.5% in the first quarter. SG Americas Securities LLC now owns 6,933 shares of the specialty retailer's stock worth $2,207,000 after buying an additional 6,496 shares during the period. Curated Wealth Partners LLC purchased a new position in shares of Pool during the first quarter valued at approximately $217,000. GAMMA Investing LLC lifted its holdings in shares of Pool by 5.7% during the first quarter. GAMMA Investing LLC now owns 816 shares of the specialty retailer's stock valued at $260,000 after purchasing an additional 44 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Pool by 4.7% during the first quarter. Harbor Capital Advisors Inc. now owns 5,265 shares of the specialty retailer's stock valued at $1,676,000 after purchasing an additional 237 shares during the last quarter. Finally, City Holding Co. purchased a new position in shares of Pool during the first quarter valued at approximately $26,000. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Pool Stock Down 2.3%

NASDAQ:POOL traded down $6.93 during midday trading on Friday, reaching $288.90. 550,621 shares of the stock traded hands, compared to its average volume of 416,392. Pool Co. has a 12-month low of $284.28 and a 12-month high of $395.60. The business has a 50-day moving average of $303.53 and a two-hundred day moving average of $329.37. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 2.05. The stock has a market capitalization of $10.86 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12.

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 the consensus estimate of $1.42 by ($0.10). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. Pool had a net margin of 8.18% and a return on equity of 31.11%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.85 EPS. On average, equities analysts forecast that Pool Co. will post 11.32 earnings per share for the current fiscal year.

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

Pool Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $1.25 dividend. This is an increase 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 yield of 1.73%. Pool's dividend payout ratio is 46.90%.

Insider Activity at Pool

In other Pool news, SVP Jennifer M. Neil sold 1,223 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $315.00, for a total transaction of $385,245.00. Following the completion of the transaction, the senior vice president now owns 9,667 shares in the company, valued at approximately $3,045,105. This represents a 11.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Pool from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Stephens lowered their target price 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. Wells Fargo & Company set a $300.00 price target on shares of Pool in a research report on Friday, April 25th. Stifel Nicolaus set a $300.00 price target on shares of Pool in a research report on Friday, April 25th. Finally, Robert W. Baird reduced their price target on shares of Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $336.22.

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.