Charles Schwab Investment Management Inc. Has $117.34 Million Holdings in Pool Corporation (NASDAQ:POOL)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Pool Corporation by 4.1% during the first quarter, owning 368,583 shares valued at $117.3 million.
• Equities analysts have raised their price targets for Pool, with Oppenheimer setting a new target of $346.00 and Wells Fargo adjusting theirs to $320.00.
• Pool Corporation reported earnings of $5.17 EPS, beating analysts' expectations, and declared a quarterly dividend of $1.25 per share, indicating a strong financial performance.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 368,583 shares of the specialty retailer's stock after acquiring an additional 14,422 shares during the period. Charles Schwab Investment Management Inc. owned about 0.98% of Pool worth $117,338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in POOL. AdvisorNet Financial Inc increased its stake in Pool by 7.8% during the 1st quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock valued at $149,000 after buying an additional 34 shares during the period. Second Line Capital LLC increased its stake in Pool by 4.1% during the 4th quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer's stock valued at $303,000 after buying an additional 35 shares during the period. Tidal Investments LLC increased its stake in Pool by 0.5% during the 4th quarter. Tidal Investments LLC now owns 6,696 shares of the specialty retailer's stock valued at $2,283,000 after buying an additional 35 shares during the period. PUREfi Wealth LLC increased its stake in Pool by 5.2% during the 1st quarter. PUREfi Wealth LLC now owns 773 shares of the specialty retailer's stock valued at $246,000 after buying an additional 38 shares during the period. Finally, Blue Trust Inc. increased its stake in Pool by 20.3% during the 1st quarter. Blue Trust Inc. now owns 225 shares of the specialty retailer's stock valued at $72,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus set a $300.00 target price on shares of Pool in a research note on Friday, April 25th. Wells Fargo & Company raised their target price on shares of Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Oppenheimer lifted their price objective on shares of Pool from $322.00 to $346.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Robert W. Baird lifted their price objective on shares of Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of Pool from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Pool currently has a consensus rating of "Hold" and an average price target of $342.14.

Pool Stock Performance

NASDAQ:POOL traded up $17.88 during trading hours on Wednesday, hitting $330.73. 470,226 shares of the company traded hands, compared to its average volume of 530,479. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 30.51, a P/E/G ratio of 4.33 and a beta of 1.07. Pool Corporation has a twelve month low of $282.22 and a twelve month high of $395.60. The firm has a 50-day moving average of $303.28 and a 200 day moving average of $315.00. The company has a current ratio of 2.52, a quick ratio of 0.87 and a debt-to-equity ratio of 0.93.

Pool (NASDAQ:POOL - Get Free Report) last posted its earnings results on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share 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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the firm earned $4.99 EPS. The firm's quarterly revenue was up .9% compared to the same quarter last year. On average, analysts forecast that Pool Corporation will post 11.32 EPS for the current year.

Pool Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, August 14th. This represents a $5.00 annualized dividend and a yield of 1.5%. Pool's dividend payout ratio is 46.13%.

Pool declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 30th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

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.