Virtu Financial LLC Buys New Shares in Pool Corporation (NASDAQ:POOL)

Key Points

• Virtu Financial LLC acquired a new stake in Pool Corporation, purchasing 3,406 shares valued at approximately $1,084,000 during the first quarter of the year.
• Pool Corporation's recent quarterly earnings report showed an EPS of $5.17, exceeding analyst expectations, with year-over-year revenue growth of 0.9%.
• The company's board has authorized a $600 million share repurchase plan, indicating confidence that the stock may be undervalued.

Virtu Financial LLC bought a new stake in shares of Pool Corporation (NASDAQ:POOL - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,406 shares of the specialty retailer's stock, valued at approximately $1,084,000.

Other large investors also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its position in shares of 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 during the period. City Holding Co. bought a new stake in Pool during the 1st quarter worth approximately $26,000. Sentry Investment Management LLC bought a new stake in Pool during the 1st quarter worth approximately $30,000. Versant Capital Management Inc increased its stake in 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 Pool during the 4th quarter worth approximately $39,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Pool Stock Down 1.3%

Shares of POOL traded down $4.34 during mid-day trading on Friday, hitting $321.75. 870,406 shares of the company's stock were exchanged, compared to its average volume of 518,218. The company has a market cap of $12.01 billion, a PE ratio of 29.68, a P/E/G ratio of 4.51 and a beta of 1.07. Pool Corporation has a 52 week low of $282.22 and a 52 week high of $395.60. The company has a 50-day simple moving average of $304.12 and a 200 day simple moving average of $314.57. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.52 and a quick ratio of 0.87.

Pool (NASDAQ:POOL - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share for the quarter, topping the consensus estimate of $5.12 by $0.05. The company had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.79 billion. Pool had a net margin of 7.79% and a return on equity of 30.99%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $4.99 EPS. On average, research analysts forecast that Pool Corporation will post 11.32 earnings per share for the current fiscal year.

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 repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Pool Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stifel Nicolaus set a $300.00 target price on Pool in a research note on Friday, April 25th. Wall Street Zen raised Pool from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Stephens lowered their target price on Pool from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Robert W. Baird increased their target price on Pool from $310.00 to $340.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company increased their target price on Pool from $300.00 to $320.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average 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.