Legal & General Group Plc Sells 76,525 Shares of Pool Corporation $POOL

Key Points

• Legal & General Group Plc cut its stake in Pool Corporation by 52.2% in the fourth quarter, selling 76,525 shares and leaving it with 70,196 shares valued at about $16.1 million.
• Several insiders bought shares recently, including directors James D. Hope and David G. Whalen, and insiders have purchased 26,989 shares worth about $5.1 million over the last three months.
• Pool reported better-than-expected EPS of $1.43 on April 23 and later authorized a $600 million share repurchase plan while increasing its quarterly dividend to $1.30 per share.

Legal & General Group Plc trimmed its position in Pool Corporation (NASDAQ:POOL - Free Report) by 52.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,196 shares of the specialty retailer's stock after selling 76,525 shares during the quarter. Legal & General Group Plc owned 0.19% of Pool worth $16,057,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Caledonia Investments PLC increased its stake in Pool by 5.2% in the third quarter. Caledonia Investments PLC now owns 160,887 shares of the specialty retailer's stock valued at $49,886,000 after acquiring an additional 8,000 shares during the last quarter. Schwartz Investment Counsel Inc. bought a new position in Pool in the fourth quarter valued at approximately $4,575,000. Silver Oak Securities Incorporated bought a new position in Pool in the fourth quarter valued at approximately $2,399,000. Perigon Wealth Management LLC bought a new stake in shares of Pool during the fourth quarter worth $599,000. Finally, American Century Companies Inc. grew its stake in shares of Pool by 11.5% during the third quarter. American Century Companies Inc. now owns 301,343 shares of the specialty retailer's stock worth $93,437,000 after buying an additional 31,117 shares during the last quarter. 98.99% of the stock is owned by institutional investors.

Insider Activity at Pool

In related news, Director James D. Hope acquired 464 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were purchased at an average price of $194.41 per share, for a total transaction of $90,206.24. Following the completion of the acquisition, the director owned 3,678 shares of the company's stock, valued at approximately $715,039.98. This trade represents a 14.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David G. Whalen acquired 525 shares of the company's stock in a transaction dated Friday, May 8th. The shares were bought at an average price of $190.44 per share, for a total transaction of $99,981.00. Following the acquisition, the director directly owned 8,936 shares of the company's stock, valued at approximately $1,701,771.84. This trade represents a 6.24% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 26,989 shares of company stock worth $5,067,747 over the last three months. 3.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Pool from $240.00 to $210.00 and set a "hold" rating on the stock in a research note on Monday, May 11th. Bank of America decreased their target price on shares of Pool from $229.00 to $226.00 and set an "underperform" rating on the stock in a research note on Monday, April 20th. Oppenheimer decreased their target price on shares of Pool from $346.00 to $280.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Wall Street Zen raised shares of Pool from a "sell" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Robert W. Baird decreased their target price on shares of Pool from $320.00 to $300.00 and set an "outperform" rating on the stock in a research note on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $261.38.

Pool Stock Performance

Shares of POOL opened at $182.07 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 0.55 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $6.64 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 2.30 and a beta of 1.16. The firm's fifty day simple moving average is $201.16 and its two-hundred day simple moving average is $226.44. Pool Corporation has a 12 month low of $172.68 and a 12 month high of $345.00.

Pool (NASDAQ:POOL - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The specialty retailer reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.82 billion. Pool had a net margin of 7.57% and a return on equity of 32.37%. The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.32 earnings per share. Pool has set its FY 2026 guidance at 10.870-11.170 EPS. As a group, analysts predict that Pool Corporation will post 11.08 EPS for the current year.

Pool declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 29th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Pool Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a dividend of $1.30 per share. This is an increase from Pool's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Thursday, May 14th. Pool's dividend payout ratio (DPR) is currently 47.84%.

About Pool

Pool Corporation is a leading wholesale distributor of swimming pool supplies, equipment, and related outdoor living products. Headquartered in Covington, Louisiana, the company serves a diverse customer base that includes service professionals, independent retailers, high-volume builders, and national retail chains. Pool Corporation's extensive branch network enables it to maintain strong local customer relationships while leveraging its scale to source products efficiently from manufacturers around the world.

The company's product portfolio spans pool and spa chemicals, water treatment equipment, pumps, filters, heaters, automation and control systems, liners, safety covers, and cleaning accessories.

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