Pool Corporation (NASDAQ:POOL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Pool Corporation (NASDAQ:POOL - Free Report) by 47.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,471 shares of the specialty retailer's stock after selling 42,112 shares during the period. Principal Financial Group Inc. owned 0.12% of Pool worth $14,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Focus Partners Wealth boosted its holdings in Pool by 907.2% in the fourth quarter. Focus Partners Wealth now owns 37,399 shares of the specialty retailer's stock worth $12,768,000 after acquiring an additional 33,686 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Pool by 12.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,954 shares of the specialty retailer's stock valued at $1,560,000 after buying an additional 559 shares in the last quarter. Amalgamated Bank increased its position in shares of Pool by 3.1% during the first quarter. Amalgamated Bank now owns 8,076 shares of the specialty retailer's stock worth $2,571,000 after purchasing an additional 246 shares in the last quarter. MFG Wealth Management Inc. purchased a new stake in shares of Pool during the first quarter worth approximately $921,000. Finally, Signal Advisors Wealth LLC boosted its stake in Pool by 40.4% during the first quarter. Signal Advisors Wealth LLC now owns 3,383 shares of the specialty retailer's stock worth $1,077,000 after buying an additional 974 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company's stock.

Pool Stock Performance

Pool stock traded down $4.98 during mid-day trading on Friday, reaching $306.32. 435,877 shares of the company were exchanged, compared to its average volume of 427,666. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.53 and a current ratio of 1.79. The firm's 50-day simple moving average is $301.52 and its two-hundred day simple moving average is $320.17. The firm has a market cap of $11.52 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 3.98 and a beta of 1.10. Pool Corporation has a twelve month low of $282.22 and a twelve month high of $395.60.

Pool (NASDAQ:POOL - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. Pool had a net margin of 7.77% and a return on equity of 30.11%. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 earnings per share. Equities analysts predict that Pool Corporation will post 11.32 earnings per share for the current fiscal year.

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid 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 yield of 1.63%. The ex-dividend date was Thursday, May 15th. Pool's dividend payout ratio (DPR) is presently 46.90%.

Pool declared that its board has authorized a stock repurchase plan on Wednesday, April 30th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the specialty retailer to purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their price target on Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on Pool in a report on Tuesday, April 1st. They issued a "hold" rating and a $344.00 price objective on the stock. Robert W. Baird decreased their target price on Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Stephens decreased their target price on Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Stifel Nicolaus set a $300.00 price objective on Pool in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Pool presently has a consensus rating of "Hold" and a consensus price target of $344.50.

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.