Litman Gregory Wealth Management LLC Boosts Stake in Pool Corporation (NASDAQ:POOL)

Litman Gregory Wealth Management LLC raised its position in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 13.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,722 shares of the specialty retailer's stock after acquiring an additional 1,260 shares during the quarter. Litman Gregory Wealth Management LLC's holdings in Pool were worth $3,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Focus Partners Wealth boosted its position in Pool by 907.2% during the fourth quarter. Focus Partners Wealth now owns 37,399 shares of the specialty retailer's stock worth $12,768,000 after acquiring an additional 33,686 shares during the last quarter. Amalgamated Bank lifted its stake in Pool by 3.1% in the 1st quarter. Amalgamated Bank now owns 8,076 shares of the specialty retailer's stock worth $2,571,000 after purchasing an additional 246 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pool by 12.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,954 shares of the specialty retailer's stock worth $1,560,000 after purchasing an additional 559 shares in the last quarter. MFG Wealth Management Inc. acquired a new position in shares of Pool during the 1st quarter worth approximately $921,000. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Pool by 2.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 117,083 shares of the specialty retailer's stock worth $37,273,000 after purchasing an additional 2,460 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

Pool Stock Up 0.0%

POOL traded up $0.05 during trading hours on Friday, hitting $298.86. 688,291 shares of the company's stock were exchanged, compared to its average volume of 430,377. The firm has a market cap of $11.24 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 3.82 and a beta of 1.10. Pool Corporation has a 12-month low of $282.22 and a 12-month high of $395.60. The company has a current ratio of 1.79, a quick ratio of 0.53 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $301.17 and a 200 day moving average of $318.23.

Pool (NASDAQ:POOL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 30.11% and a net margin of 7.77%. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same period in the previous year, the business posted $1.85 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts predict that Pool Corporation will post 11.32 EPS for the current fiscal year.

Pool announced that its board has authorized a share repurchase program on Wednesday, April 30th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $5.00 dividend on an annualized basis and a yield of 1.67%. This is an increase from Pool's previous quarterly dividend of $1.20. Pool's dividend payout ratio (DPR) is presently 46.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on POOL. Stifel Nicolaus set a $300.00 price objective on shares of Pool in a report on Friday, April 25th. Robert W. Baird dropped their price target on shares of Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pool in a research report on Tuesday, April 1st. They set a "hold" rating and a $344.00 price target on the stock. Wells Fargo & Company increased their price objective on Pool from $300.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Stephens cut their target price on Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $344.50.

About Pool

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.