Kingsview Wealth Management LLC Takes $2.40 Million Position in Pool Corporation (NASDAQ:POOL)

Kingsview Wealth Management LLC purchased a new stake in Pool Corporation (NASDAQ:POOL - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 7,540 shares of the specialty retailer's stock, valued at approximately $2,400,000.

Several other hedge funds and other institutional investors have also modified their holdings of POOL. Focus Partners Wealth boosted 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 valued at $12,768,000 after purchasing an additional 33,686 shares during the period. Amalgamated Bank boosted its stake in Pool by 3.1% during the 1st quarter. Amalgamated Bank now owns 8,076 shares of the specialty retailer's stock valued at $2,571,000 after purchasing an additional 246 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Pool by 12.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,954 shares of the specialty retailer's stock valued at $1,560,000 after purchasing an additional 559 shares during the period. MFG Wealth Management Inc. acquired a new position in Pool during the 1st quarter valued at about $921,000. Finally, Stephens Investment Management Group LLC boosted its stake in Pool by 2.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 117,083 shares of the specialty retailer's stock valued at $37,273,000 after purchasing an additional 2,460 shares during the period. 98.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

POOL has been the subject of a number of research analyst reports. Stephens reduced their price target on shares of Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company upped their price target on shares of Pool from $300.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Stifel Nicolaus set a $300.00 target price on shares of Pool in a research note on Friday, April 25th. Robert W. Baird cut their target price on shares of Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Oppenheimer cut their target price on shares of Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $344.50.

Pool Stock Up 0.0%

Pool stock opened at $298.86 on Friday. The firm has a market cap of $11.24 billion, a PE ratio of 28.04, a P/E/G ratio of 3.82 and a beta of 1.10. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.53 and a current ratio of 1.79. The firm's 50 day moving average price is $301.17 and its two-hundred day moving average price is $318.33. Pool Corporation has a twelve month low of $282.22 and a twelve month high of $395.60.

Pool (NASDAQ:POOL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share 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 7.77% and a return on equity of 30.11%. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.85 EPS. On average, research analysts predict that Pool Corporation will post 11.32 EPS for the current fiscal year.

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $1.25 per share. This is an increase from Pool's previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, May 15th. Pool's dividend payout ratio is currently 46.90%.

Pool announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often 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.

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