Torray Investment Partners LLC Has $1.63 Million Stock Position in Pool Corporation (NASDAQ:POOL)

Key Points

• Torray Investment Partners LLC significantly reduced its stake in Pool Corporation by 65.0%, selling 9,477 shares and holding 5,103 shares worth $1,625,000 at the end of the quarter.
• Pool Corporation's stock received various upgrades from analysts, with price targets ranging from $300 to $346, leading to an average target price of $342.14.
• The company announced a $600 million share repurchase program and declared a quarterly dividend of $1.25, indicating strong corporate confidence in its valuation.

Torray Investment Partners LLC decreased its position in Pool Corporation (NASDAQ:POOL - Free Report) by 65.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,103 shares of the specialty retailer's stock after selling 9,477 shares during the period. Torray Investment Partners LLC's holdings in Pool were worth $1,625,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of POOL. Whipplewood Advisors LLC lifted its stake in Pool by 471.4% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the specialty retailer's stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. City Holding Co. bought a new stake in shares of Pool during the 1st quarter worth approximately $26,000. Sentry Investment Management LLC bought a new stake in shares of Pool during the 1st quarter worth approximately $30,000. Versant Capital Management Inc raised its stake in shares of Pool by 790.9% during the 1st quarter. Versant Capital Management Inc now owns 98 shares of the specialty retailer's stock worth $31,000 after purchasing an additional 87 shares in the last quarter. Finally, FWL Investment Management LLC bought a new stake in shares of Pool during the 4th quarter worth approximately $39,000. Institutional investors own 98.99% of the company's stock.

Pool Stock Performance

NASDAQ POOL traded up $0.53 on Friday, reaching $308.67. The stock had a trading volume of 493,254 shares, compared to its average volume of 588,676. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.52 and a quick ratio of 0.87. The firm has a fifty day moving average of $301.72 and a two-hundred day moving average of $317.30. Pool Corporation has a 1-year low of $282.22 and a 1-year high of $395.60. The company has a market cap of $11.52 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 4.25 and a beta of 1.07.

Pool (NASDAQ:POOL - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The specialty retailer reported $5.17 EPS for the quarter, beating 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 firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the firm posted $4.99 EPS. The company's revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts anticipate that Pool Corporation will post 11.32 EPS 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 purchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Pool Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Stifel Nicolaus set a $300.00 price objective on Pool in a research note on Friday, April 25th. Stephens dropped their price objective 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 increased their price target on Pool from $322.00 to $346.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Pool from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $342.14.

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.