Pool Corporation $POOL Shares Sold by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC reduced its stake in Pool Corporation by 23.0%, now holding approximately 211,235 shares valued at $67.25 million.
• Analysts have raised their price targets for Pool Corporation, with Oppenheimer setting a new target at $346.00 and a consensus rating of "Hold".
• Pool Corporation announced a quarterly dividend of $1.25 per share, resulting in an annualized yield of 1.6%.

Parnassus Investments LLC lessened its stake in Pool Corporation (NASDAQ:POOL - Free Report) by 23.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,235 shares of the specialty retailer's stock after selling 62,930 shares during the period. Parnassus Investments LLC owned 0.56% of Pool worth $67,247,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in POOL. Whipplewood Advisors LLC increased its holdings in shares of Pool by 471.4% in 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. acquired a new position in Pool in the 1st quarter valued at $26,000. Sentry Investment Management LLC acquired a new position in Pool in the 1st quarter valued at $30,000. Versant Capital Management Inc lifted its stake in shares of Pool by 790.9% in the 1st quarter. Versant Capital Management Inc now owns 98 shares of the specialty retailer's stock worth $31,000 after acquiring an additional 87 shares during the period. Finally, FWL Investment Management LLC acquired a new stake in shares of Pool in the 4th quarter worth $39,000. 98.99% of the stock is owned by institutional investors and hedge funds.

Pool Trading Down 1.8%

POOL stock traded down $5.63 during trading on Tuesday, reaching $305.08. 224,285 shares of the stock traded hands, compared to its average volume of 514,815. The firm has a market capitalization of $11.39 billion, a PE ratio of 28.14, a P/E/G ratio of 4.31 and a beta of 1.08. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.52 and a quick ratio of 0.87. The business's 50 day moving average price is $309.41 and its 200-day moving average price is $312.45. Pool Corporation has a 52-week low of $282.22 and a 52-week high of $395.60.

Pool (NASDAQ:POOL - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.05. Pool had a net margin of 7.79% and a return on equity of 30.99%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business earned $4.99 earnings per share. The business's quarterly revenue was up .9% compared to the same quarter last year. Pool has set its FY 2025 guidance at 10.700-11.200 EPS. As a group, sell-side analysts forecast that Pool Corporation will post 11.32 earnings per share for the current year.

Pool Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, August 14th. Pool's dividend payout ratio is presently 46.13%.

Analyst Ratings Changes

Several research analysts recently issued reports on POOL shares. Robert W. Baird increased their price target on shares of Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Wells Fargo & Company upped their target price on Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Oppenheimer lifted their price objective on Pool from $322.00 to $346.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen raised shares of Pool from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.