Oppenheimer Asset Management Inc. Buys 1,386 Shares of Pool Corporation (NASDAQ:POOL)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 15.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,520 shares of the specialty retailer's stock after acquiring an additional 1,386 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Pool were worth $3,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in POOL. Rakuten Securities Inc. boosted its stake in shares of Pool by 2,300.0% during the 4th quarter. Rakuten Securities Inc. now owns 72 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 69 shares during the period. Whipplewood Advisors LLC boosted its stake in shares of Pool by 471.4% during the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the specialty retailer's stock worth $25,000 after acquiring an additional 66 shares during the period. City Holding Co. bought a new position in shares of Pool during the 1st quarter worth approximately $26,000. Atala Financial Inc bought a new position in shares of Pool during the 4th quarter worth approximately $29,000. Finally, Sentry Investment Management LLC bought a new position in shares of Pool during the 1st quarter worth approximately $30,000. 98.99% of the stock is currently owned by institutional investors.

Pool Price Performance

Pool stock traded down $1.49 during midday trading on Friday, hitting $292.77. 2,177,454 shares of the company's stock were exchanged, compared to its average volume of 422,237. Pool Corporation has a 52-week low of $282.22 and a 52-week high of $395.60. The stock has a 50-day moving average price of $300.48 and a two-hundred day moving average price of $323.86. 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 company has a market cap of $11.01 billion, a P/E ratio of 27.46, a PEG ratio of 3.76 and a beta of 1.12.

Pool (NASDAQ:POOL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $1.32 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.10). Pool had a return on equity of 30.11% and a net margin of 7.77%. The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $1.85 EPS. The firm's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities research analysts forecast that Pool Corporation will post 11.32 earnings per share for the current year.

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.71%. This is a boost from Pool's previous quarterly dividend of $1.20. The ex-dividend date was Thursday, May 15th. Pool's payout ratio is presently 46.90%.

Pool announced that its board has authorized a stock 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 repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Robert W. Baird reduced their price target on Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Wells Fargo & Company set a $300.00 price objective on Pool in a report on Friday, April 25th. Oppenheimer lowered their price target on Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a 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 target price for the company. Finally, Stephens lowered their target price on Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $342.00.

Insider Buying and Selling at Pool

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

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.