Nuveen Asset Management LLC reduced its position in Pool Co. (NASDAQ:POOL - Free Report) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,609 shares of the specialty retailer's stock after selling 17,480 shares during the quarter. Nuveen Asset Management LLC owned about 0.41% of Pool worth $53,735,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of Pool during the fourth quarter worth about $116,833,000. JPMorgan Chase & Co. increased its holdings in Pool by 22.7% in the third quarter. JPMorgan Chase & Co. now owns 1,260,313 shares of the specialty retailer's stock valued at $474,886,000 after buying an additional 232,914 shares during the last quarter. Wellington Management Group LLP increased its holdings in Pool by 27.5% in the fourth quarter. Wellington Management Group LLP now owns 1,042,514 shares of the specialty retailer's stock valued at $355,435,000 after buying an additional 224,674 shares during the last quarter. Berkshire Hathaway Inc increased its holdings in Pool by 48.2% in the fourth quarter. Berkshire Hathaway Inc now owns 598,689 shares of the specialty retailer's stock valued at $204,117,000 after buying an additional 194,632 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Pool by 25.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 636,007 shares of the specialty retailer's stock valued at $216,840,000 after acquiring an additional 129,780 shares during the period. 98.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. StockNews.com downgraded Pool from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Stephens reduced their price objective on Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Pool in a research report on Tuesday, April 1st. They set a "hold" rating and a $344.00 price objective for the company. Oppenheimer cut their target price on Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, Stifel Nicolaus set a $300.00 price target on Pool in a report on Friday, April 25th. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $336.22.
Read Our Latest Analysis on Pool
Insider Transactions at Pool
In related news, SVP Jennifer M. Neil sold 1,223 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $315.00, for a total value of $385,245.00. Following the completion of the sale, the senior vice president now directly owns 9,667 shares in the company, valued at approximately $3,045,105. This represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director De La Mesa Manuel J. Perez sold 10,000 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $346.00, for a total transaction of $3,460,000.00. Following the completion of the sale, the director now owns 62,577 shares of the company's stock, valued at $21,651,642. This represents a 13.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
Pool Price Performance
Shares of NASDAQ:POOL opened at $320.82 on Monday. The company's fifty day moving average is $310.34 and its two-hundred day moving average is $338.03. The company has a quick ratio of 0.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.71. Pool Co. has a 12-month low of $284.28 and a 12-month high of $395.60. The company has a market cap of $12.06 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20.
Pool (NASDAQ:POOL - Get Free Report) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share (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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the firm earned $1.85 earnings per share. Pool's revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts expect that Pool Co. will post 11.32 earnings per share for the current fiscal year.
Pool Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This is an increase from Pool's previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.56%. Pool's dividend payout ratio is 46.90%.
Pool announced that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.
Pool Company Profile
(
Free Report)
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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