Mitsubishi UFJ Asset Management Co. Ltd. Buys 10,421 Shares of Pool Corporation (NASDAQ:POOL)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Pool Corporation by 17.3%, owning $22.53 million worth of stock as of its recent 13F filing.
• Pool Corporation recently posted quarterly earnings of $5.17 EPS, slightly surpassing analysts' estimates, while revenue increased 0.9% year-over-year.
• The company's board approved a $600 million stock buyback program, indicating confidence in the stock's undervaluation.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Pool Corporation (NASDAQ:POOL - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,755 shares of the specialty retailer's stock after buying an additional 10,421 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Pool worth $22,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Whipplewood Advisors LLC boosted its stake in shares of Pool by 471.4% during the first quarter. Whipplewood Advisors LLC now owns 80 shares of the specialty retailer's stock valued at $25,000 after purchasing an additional 66 shares during the period. City Holding Co. purchased a new stake in shares of Pool during the first quarter valued at approximately $26,000. Versant Capital Management Inc boosted its stake in shares of Pool by 790.9% during the first quarter. Versant Capital Management Inc now owns 98 shares of the specialty retailer's stock valued at $31,000 after purchasing an additional 87 shares during the period. Sentry Investment Management LLC purchased a new stake in shares of Pool during the first quarter valued at approximately $30,000. Finally, FWL Investment Management LLC purchased a new stake in shares of Pool during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

Pool Stock Up 2.0%

POOL traded up $6.20 during trading on Tuesday, reaching $312.85. The stock had a trading volume of 319,284 shares, compared to its average volume of 542,791. The stock's 50 day moving average is $302.85 and its two-hundred day moving average is $314.89. 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 company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 4.23 and a beta of 1.07. Pool Corporation has a one year low of $282.22 and a one year high of $395.60.

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

Pool Announces Dividend

The company 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. The ex-dividend date is Thursday, August 14th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. Pool's dividend payout ratio is 46.13%.

Pool declared that its board has initiated a share repurchase program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on POOL shares. Stephens dropped their price objective on Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Oppenheimer raised their price target on Pool from $322.00 to $346.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Wells Fargo & Company raised their price target on 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 price target on Pool in a research note on Friday, April 25th. Finally, Robert W. Baird raised their price target on Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Pool presently has a consensus rating of "Hold" and an average price target of $342.14.

Pool 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.