Park Place Capital Corp Has $74,000 Stock Holdings in Pool Corporation (NASDAQ:POOL)

Park Place Capital Corp lowered its stake in Pool Corporation (NASDAQ:POOL - Free Report) by 78.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 232 shares of the specialty retailer's stock after selling 858 shares during the period. Park Place Capital Corp's holdings in Pool were worth $74,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of POOL. Bank of New York Mellon Corp grew its holdings in Pool by 0.9% during the 4th quarter. Bank of New York Mellon Corp now owns 419,919 shares of the specialty retailer's stock worth $143,167,000 after acquiring an additional 3,575 shares during the period. Mn Services Vermogensbeheer B.V. grew its holdings in Pool by 5.4% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 15,700 shares of the specialty retailer's stock worth $5,353,000 after acquiring an additional 800 shares during the period. Proficio Capital Partners LLC acquired a new stake in Pool during the 4th quarter worth $12,438,000. QRG Capital Management Inc. grew its holdings in Pool by 8.3% during the 4th quarter. QRG Capital Management Inc. now owns 714 shares of the specialty retailer's stock worth $243,000 after acquiring an additional 55 shares during the period. Finally, Private Trust Co. NA grew its holdings in Pool by 76.9% during the 4th quarter. Private Trust Co. NA now owns 138 shares of the specialty retailer's stock worth $47,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Pool Trading Down 0.5%

Shares of NASDAQ POOL traded down $1.49 during midday trading on Friday, reaching $292.77. 2,177,454 shares of the stock were exchanged, compared to its average volume of 420,737. The business has a 50-day simple moving average of $300.48 and a two-hundred day simple moving average of $323.50. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 3.74 and a beta of 1.12. Pool Corporation has a 12 month low of $282.22 and a 12 month high of $395.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 0.53.

Pool (NASDAQ:POOL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $1.32 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.10). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. Pool had a net margin of 7.77% and a return on equity of 30.11%. The company's revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.85 earnings per share. As a group, equities research analysts expect that Pool Corporation will post 11.32 EPS for the current year.

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

Pool Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, May 15th. This is a positive change from Pool's previous quarterly dividend of $1.20. Pool's dividend payout ratio (DPR) is currently 46.90%.

Insider Activity at Pool

In other Pool news, SVP Jennifer M. Neil sold 1,223 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $315.00, for a total transaction of $385,245.00. Following the sale, the senior vice president now directly owns 9,667 shares of the company's stock, valued at $3,045,105. The trade was a 11.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on POOL. Robert W. Baird lowered their target price on shares of Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Stifel Nicolaus set a $300.00 target price on shares of Pool in a report on Friday, April 25th. Stephens lowered their target price on shares of Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Oppenheimer lowered their target price on shares of Pool from $370.00 to $322.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, Wells Fargo & Company set a $300.00 price target on shares of Pool in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $342.00.

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.