Pool Co. (NASDAQ:POOL) Shares Bought by Congress Asset Management Co.

Congress Asset Management Co. raised its stake in Pool Co. (NASDAQ:POOL - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,855 shares of the specialty retailer's stock after purchasing an additional 2,066 shares during the period. Congress Asset Management Co. owned about 0.11% of Pool worth $13,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of POOL. Impact Capital Partners LLC grew its stake in Pool by 8.0% during the 1st quarter. Impact Capital Partners LLC now owns 2,099 shares of the specialty retailer's stock worth $668,000 after buying an additional 155 shares during the last quarter. Caledonia Investments PLC grew its stake in shares of Pool by 6.3% in the 1st quarter. Caledonia Investments PLC now owns 129,387 shares of the specialty retailer's stock valued at $41,152,000 after purchasing an additional 7,700 shares during the last quarter. Signal Advisors Wealth LLC grew its stake in shares of Pool by 40.4% in the 1st quarter. Signal Advisors Wealth LLC now owns 3,383 shares of the specialty retailer's stock valued at $1,077,000 after purchasing an additional 974 shares during the last quarter. Thrive Wealth Management LLC grew its stake in shares of Pool by 46.3% in the 1st quarter. Thrive Wealth Management LLC now owns 996 shares of the specialty retailer's stock valued at $317,000 after purchasing an additional 315 shares during the last quarter. Finally, Heritage Family Offices LLP grew its stake in shares of Pool by 28.0% in the 1st quarter. Heritage Family Offices LLP now owns 1,655 shares of the specialty retailer's stock valued at $527,000 after purchasing an additional 362 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company's stock.

Pool Stock Down 3.7%

NASDAQ:POOL opened at $297.08 on Friday. The firm has a market capitalization of $11.17 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12. The stock has a 50 day moving average of $304.72 and a 200-day moving average of $332.06. Pool Co. has a 52 week low of $284.28 and a 52 week high of $395.60. The company has a current ratio of 2.05, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71.

Pool (NASDAQ:POOL - Get Free Report) last posted its earnings results 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 net margin of 8.18% and a return on equity of 31.11%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company posted $1.85 earnings per share. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts predict that Pool Co. will post 11.32 EPS for the current year.

Pool Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.68%. This is a positive change from Pool's previous quarterly dividend of $1.20. The ex-dividend date was Thursday, May 15th. Pool's dividend payout ratio is 46.90%.

Pool declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 30th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the specialty retailer to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company set a $300.00 target price on Pool in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Pool in a research report on Tuesday, April 1st. They issued a "hold" rating and a $344.00 price objective for the company. Stephens reduced their price objective on Pool from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Stifel Nicolaus set a $300.00 price target on Pool in a research note on Friday, April 25th. Finally, Oppenheimer cut their price objective on Pool from $370.00 to $322.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Pool presently has a consensus rating of "Hold" and a consensus target price of $336.22.

Insider Buying and Selling

In related news, SVP Jennifer M. Neil sold 1,223 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $315.00, for a total value of $385,245.00. Following the completion of the transaction, the senior vice president now directly owns 9,667 shares of the company's stock, valued at $3,045,105. This represents a 11.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate 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.

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