SVB Wealth LLC Has $3.91 Million Stock Position in Pool Corporation $POOL

Key Points

• SVB Wealth LLC reduced its stake in Pool Corporation by 42.0%, selling 8,890 shares and leaving it with 12,291 shares worth approximately $3.9 million.
• Multiple analysts have adjusted their price targets for Pool, with Robert W. Baird increasing their target to $340 and Wells Fargo raising it to $320, reflecting varying outlooks on the stock.
• Pool announced a $1.25 quarterly dividend, payable on August 28th, representing a 1.5% yield, and commenced a stock repurchase plan allowing for up to $600 million in share buybacks.

SVB Wealth LLC lowered its position in shares of Pool Corporation (NASDAQ:POOL - Free Report) by 42.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,291 shares of the specialty retailer's stock after selling 8,890 shares during the period. SVB Wealth LLC's holdings in Pool were worth $3,913,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Focus Partners Wealth increased its stake in shares of 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 buying an additional 33,686 shares during the last quarter. Amalgamated Bank increased its stake in shares of Pool by 3.1% in the first quarter. Amalgamated Bank now owns 8,076 shares of the specialty retailer's stock worth $2,571,000 after buying an additional 246 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $1,560,000 after buying an additional 559 shares during the last quarter. MFG Wealth Management Inc. bought a new stake in shares of Pool in the first quarter worth $921,000. Finally, Virtu Financial LLC bought a new stake in shares of Pool in the first quarter worth $1,084,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

Pool Price Performance

POOL stock traded down $3.05 during trading on Tuesday, hitting $318.38. The company had a trading volume of 527,259 shares, compared to its average volume of 456,544. The firm has a market capitalization of $11.88 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 4.44 and a beta of 1.07. The business has a 50 day moving average of $307.38 and a 200 day moving average of $313.31. Pool Corporation has a fifty-two week low of $282.22 and a fifty-two 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.

Pool (NASDAQ:POOL - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $5.17 EPS for the quarter, topping the consensus estimate of $5.12 by $0.05. Pool had a net margin of 7.79% and a return on equity of 30.99%. The firm had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $1.79 billion. During the same period in the previous year, the business earned $4.99 earnings per share. Pool's revenue for the quarter was up .9% compared to the same quarter last year. Pool has set its FY 2025 guidance at 10.700-11.200 EPS. As a group, research analysts predict that Pool Corporation will post 11.32 earnings per share for the current year.

Pool declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 30th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Pool Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date is Thursday, August 14th. Pool's dividend payout ratio is currently 46.13%.

Analyst Ratings Changes

POOL has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Pool from $310.00 to $340.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Pool from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Oppenheimer boosted their price target on shares of Pool from $322.00 to $346.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Wells Fargo & Company boosted their price target on shares of Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Finally, Stephens reduced their price target 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. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Pool currently has an average rating of "Hold" and a consensus price target of $342.14.

Pool Company 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.