United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New Investment in Pool Corporation (NASDAQ:POOL)

Key Points

• United Super Pty Ltd has made a new investment of $318,000 in Pool Corporation (NASDAQ:POOL), acquiring 1,000 shares during the first quarter.
• Pool Corporation recently reported earnings of $5.17 per share, exceeding estimates, and had a quarterly dividend announced at $1.25 per share, representing an annualized yield of 1.6%.
• The company has initiated a stock repurchase program authorizing the buyback of up to $600 million, which suggests that leadership believes the stock is currently undervalued.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Pool Corporation (NASDAQ:POOL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,000 shares of the specialty retailer's stock, valued at approximately $318,000.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its position in Pool by 7.8% in the 1st quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer's stock valued at $149,000 after buying an additional 34 shares in the last quarter. Second Line Capital LLC grew its position in Pool by 4.1% in the 4th quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer's stock valued at $303,000 after buying an additional 35 shares in the last quarter. Tidal Investments LLC grew its position in Pool by 0.5% in the 4th quarter. Tidal Investments LLC now owns 6,696 shares of the specialty retailer's stock valued at $2,283,000 after buying an additional 35 shares in the last quarter. PUREfi Wealth LLC grew its position in Pool by 5.2% in the 1st quarter. PUREfi Wealth LLC now owns 773 shares of the specialty retailer's stock valued at $246,000 after buying an additional 38 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Pool by 20.3% in the 1st quarter. Blue Trust Inc. now owns 225 shares of the specialty retailer's stock valued at $72,000 after buying an additional 38 shares in the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on POOL shares. Stephens decreased their target price on shares of Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Pool from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Oppenheimer raised their price objective on shares of Pool from $322.00 to $346.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Robert W. Baird raised their price objective on shares of Pool from $310.00 to $340.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company raised their price objective on shares of Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Pool presently has an average rating of "Hold" and a consensus price target of $342.14.

Pool Price Performance

Shares of NASDAQ:POOL traded up $0.27 during trading hours on Tuesday, hitting $310.08. 38,138 shares of the company's stock traded hands, compared to its average volume of 522,810. Pool Corporation has a 52 week low of $282.22 and a 52 week high of $395.60. The company's fifty day simple moving average is $301.87 and its two-hundred day simple moving average is $316.60. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 4.26 and a beta of 1.07. 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 (NASDAQ:POOL - Get Free Report) last announced its 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 company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same period last year, the company posted $4.99 earnings per share. The business's revenue for the quarter was up .9% on a year-over-year basis. As a group, equities analysts anticipate that Pool Corporation will post 11.32 EPS for the current fiscal year.

Pool declared that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Pool Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Thursday, August 14th. Pool's dividend payout ratio (DPR) is presently 46.13%.

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.