Victory Capital Management Inc. Has $7.19 Million Stock Position in Pool Corporation (NASDAQ:POOL)

Key Points

• Victory Capital Management Inc. has reduced its stake in Pool Corporation by 57.5%, leaving it with approximately 22,582 shares valued at $7.19 million.
• Pool Corporation recently increased its quarterly dividend to $1.25 per share, reflecting a positive change from its previous $1.20 dividend.
• Analysts have adjusted their target prices for Pool Corporation, with Oppenheimer lowering theirs from $370 to $322, while Robert W. Baird raised theirs from $310 to $340.

Victory Capital Management Inc. decreased its holdings in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 57.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,582 shares of the specialty retailer's stock after selling 30,499 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Pool worth $7,189,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. LPL Financial LLC raised its stake in shares of Pool by 7.8% during the fourth quarter. LPL Financial LLC now owns 41,596 shares of the specialty retailer's stock worth $14,182,000 after acquiring an additional 3,010 shares in the last quarter. Vanguard Group Inc. grew its holdings in Pool by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 4,443,451 shares of the specialty retailer's stock valued at $1,514,950,000 after buying an additional 21,870 shares in the last quarter. Korea Investment CORP increased its stake in shares of Pool by 116.0% during the fourth quarter. Korea Investment CORP now owns 17,500 shares of the specialty retailer's stock valued at $5,966,000 after buying an additional 9,397 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 valued at $20,349,000 after purchasing an additional 2,997 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in Pool by 14.9% in the fourth quarter. WINTON GROUP Ltd now owns 2,149 shares of the specialty retailer's stock valued at $733,000 after acquiring an additional 278 shares during the period. Institutional investors and hedge funds own 98.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on POOL. Stifel Nicolaus set a $300.00 price objective on Pool in a research note on Friday, April 25th. Stephens dropped their price target on Pool from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company lifted their target price on Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Pool from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Robert W. Baird lifted their price objective on Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $338.71.

Pool Stock Down 0.7%

Shares of NASDAQ:POOL traded down $2.36 during midday trading on Monday, hitting $322.55. 302,855 shares of the stock were exchanged, compared to its average volume of 526,420. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.87 and a current ratio of 2.52. Pool Corporation has a 52-week low of $282.22 and a 52-week high of $395.60. The business's fifty day simple moving average is $301.28 and its two-hundred day simple moving average is $317.77. The company has a market capitalization of $12.13 billion, a PE ratio of 29.76, a P/E/G ratio of 4.53 and a beta of 1.10.

Pool (NASDAQ:POOL - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.05. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. Pool had a return on equity of 30.99% and a net margin of 7.79%. Pool's quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $4.99 earnings per share. As a group, research analysts predict that Pool Corporation will post 11.32 earnings per share for the current fiscal year.

Pool Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a $1.25 dividend. This is an increase from Pool's previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, May 15th. Pool's dividend payout ratio (DPR) is currently 46.13%.

Pool announced that its board has authorized a share repurchase program on Wednesday, April 30th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the specialty retailer to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically 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.