Invesco Ltd. decreased its stake in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 17.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 629,553 shares of the specialty retailer's stock after selling 134,264 shares during the quarter. Invesco Ltd. owned about 1.67% of Pool worth $200,418,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its position in Pool by 471.4% during the first quarter. Whipplewood Advisors LLC now owns 80 shares of the specialty retailer's stock worth $25,000 after buying an additional 66 shares in the last quarter. City Holding Co. purchased a new stake in Pool in the first quarter valued at $26,000. Sentry Investment Management LLC purchased a new stake in Pool in the first quarter valued at $30,000. Versant Capital Management Inc raised its position in Pool by 790.9% in the first quarter. Versant Capital Management Inc now owns 98 shares of the specialty retailer's stock valued at $31,000 after purchasing an additional 87 shares during the period. Finally, FWL Investment Management LLC purchased a new stake in Pool in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 98.99% of the company's stock.
Pool Trading Down 0.9%
Shares of POOL stock traded down $2.88 on Monday, hitting $318.88. The stock had a trading volume of 153,706 shares, compared to its average volume of 517,527. 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 firm has a market capitalization of $11.90 billion, a P/E ratio of 29.45, a P/E/G ratio of 4.45 and a beta of 1.07. Pool Corporation has a 1 year low of $282.22 and a 1 year high of $395.60. The company's 50 day moving average price is $304.12 and its 200-day moving average price is $314.12.
Pool (NASDAQ:POOL - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.12 by $0.05. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. Pool had a return on equity of 30.99% and a net margin of 7.79%. The company's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.99 EPS. Analysts anticipate that Pool Corporation will post 11.32 earnings per share for the current year.
Pool announced that its Board of Directors has authorized 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 buy up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
Pool Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued 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 1.6%. Pool's dividend payout ratio is 46.13%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on POOL shares. Stephens reduced their target price on Pool from $400.00 to $350.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Robert W. Baird increased their target price 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. Stifel Nicolaus set a $300.00 target price on shares of Pool in a research note on Friday, April 25th. Oppenheimer increased their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Pool from $300.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $342.14.
View Our Latest Report on POOL
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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