Rhumbline Advisers Raises Stock Position in Pool Co. (NASDAQ:POOL)

Rhumbline Advisers boosted its position in shares of Pool Co. (NASDAQ:POOL - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,461 shares of the specialty retailer's stock after acquiring an additional 6,362 shares during the period. Rhumbline Advisers owned 0.22% of Pool worth $26,570,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its holdings in shares of Pool by 7.8% during the first quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock worth $149,000 after purchasing an additional 34 shares in the last quarter. Second Line Capital LLC grew its stake in Pool by 4.1% in the 4th quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer's stock worth $303,000 after buying an additional 35 shares in the last quarter. Tidal Investments LLC grew its stake in Pool by 0.5% in the 4th quarter. Tidal Investments LLC now owns 6,696 shares of the specialty retailer's stock worth $2,283,000 after buying an additional 35 shares in the last quarter. Waterloo Capital L.P. grew its position in Pool by 7.1% in the fourth quarter. Waterloo Capital L.P. now owns 635 shares of the specialty retailer's stock worth $216,000 after acquiring an additional 42 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Pool by 4.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,122 shares of the specialty retailer's stock worth $383,000 after acquiring an additional 43 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Pool Stock Performance

NASDAQ:POOL opened at $308.45 on Friday. The firm has a market cap of $11.60 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 2.05. The business has a 50 day moving average price of $305.14 and a 200-day moving average price of $332.71. Pool Co. has a fifty-two week low of $284.28 and a fifty-two week high of $395.60.

Pool (NASDAQ:POOL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.10). The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.10 billion. Pool had a net margin of 8.18% and a return on equity of 31.11%. The company's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.85 EPS. Equities research analysts predict that Pool Co. will post 11.32 earnings per share for the current year.

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

Pool Increases Dividend

The firm also recently disclosed 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 a positive change from Pool's previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Thursday, May 15th. Pool's dividend payout ratio (DPR) is currently 46.90%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Robert W. Baird cut their price objective on 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 Pool in a research note on Friday, April 25th. Wall Street Zen lowered Pool from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Wells Fargo & Company set a $300.00 target price on Pool in a research note on Friday, April 25th. Finally, Stephens cut their price objective on shares of Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $336.22.

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.

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