TD Asset Management Inc Sells 7,887 Shares of Pool Corporation (NASDAQ:POOL)

Key Points

• TD Asset Management Inc has decreased its stake in Pool Corporation by 2.8%, now owning 269,882 shares valued at approximately $85.9 million.
• Pool Corp announced a quarterly dividend of $1.25 per share, up from a previous $1.20, representing an annualized yield of 1.54%.
• Analysts have varying price targets for Pool Corporation, with a consensus average target price of $338.71 and a current recommendation of "Hold" from multiple research firms.

TD Asset Management Inc lessened its stake in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 2.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 269,882 shares of the specialty retailer's stock after selling 7,887 shares during the period. TD Asset Management Inc owned approximately 0.72% of Pool worth $85,917,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of POOL. LPL Financial LLC raised its holdings in Pool by 7.8% during the 4th quarter. LPL Financial LLC now owns 41,596 shares of the specialty retailer's stock valued at $14,182,000 after buying an additional 3,010 shares during the period. Korea Investment CORP increased its stake in Pool by 116.0% in the fourth quarter. Korea Investment CORP now owns 17,500 shares of the specialty retailer's stock worth $5,966,000 after purchasing an additional 9,397 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Pool by 5.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60,334 shares of the specialty retailer's stock worth $20,349,000 after purchasing an additional 2,997 shares during the period. WINTON GROUP Ltd increased its stake in Pool by 14.9% in the fourth quarter. WINTON GROUP Ltd now owns 2,149 shares of the specialty retailer's stock worth $733,000 after purchasing an additional 278 shares during the period. Finally, UniSuper Management Pty Ltd increased its stake in Pool by 19.6% in the fourth quarter. UniSuper Management Pty Ltd now owns 5,767 shares of the specialty retailer's stock worth $1,966,000 after purchasing an additional 947 shares during the period. Hedge funds and other institutional investors own 98.99% of the company's stock.

Analyst Upgrades and Downgrades

POOL has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Pool from a "sell" rating to a "hold" rating in a research note on Saturday. Stephens reduced their target price on Pool from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Oppenheimer reduced their target price on Pool from $370.00 to $322.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Stifel Nicolaus set a $300.00 target price on Pool in a research note on Friday, April 25th. Finally, Robert W. Baird increased their target price on Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $338.71.

Pool Stock Down 1.1%

Shares of POOL traded down $3.42 during midday trading on Monday, reaching $321.48. 561,384 shares of the stock were exchanged, compared to its average volume of 647,077. Pool Corporation has a 52 week low of $282.22 and a 52 week high of $395.60. The company has a current ratio of 2.52, a quick ratio of 0.87 and a debt-to-equity ratio of 0.93. The company's 50 day moving average is $301.28 and its two-hundred day moving average is $317.77. The company has a market capitalization of $12.09 billion, a P/E ratio of 29.66, a PEG ratio of 4.53 and a beta of 1.10.

Pool (NASDAQ:POOL - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.12 by $0.05. Pool had a return on equity of 30.99% and a net margin of 7.79%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company earned $4.99 EPS. The business's revenue was up .9% compared to the same quarter last year. On average, sell-side 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 share repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Pool Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $1.25 per share. 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 1.56%. This is an increase from Pool's previous quarterly dividend of $1.20. Pool's dividend payout ratio (DPR) is presently 46.13%.

Pool Profile

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.