3,406 Shares in Pool Corporation (NASDAQ:POOL) Purchased by Virtu Financial LLC

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 acquired a new position in shares of Pool Corporation (NASDAQ:POOL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,406 shares of the specialty retailer's stock, valued at approximately $1,084,000.

A number of other large investors have also modified their holdings of the stock. Benjamin Edwards Inc. increased its position in shares of Pool by 19.3% during the first quarter. Benjamin Edwards Inc. now owns 68,890 shares of the specialty retailer's stock worth $21,931,000 after acquiring an additional 11,123 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Pool by 3.6% during the first quarter. JPMorgan Chase & Co. now owns 1,284,918 shares of the specialty retailer's stock worth $409,054,000 after purchasing an additional 44,897 shares in the last quarter. Cynosure Group LLC grew its stake in shares of Pool by 14.0% during the first quarter. Cynosure Group LLC now owns 1,033 shares of the specialty retailer's stock worth $329,000 after purchasing an additional 127 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Pool during the first quarter worth $88,000. Finally, Citigroup Inc. grew its stake in shares of Pool by 107.8% during the first quarter. Citigroup Inc. now owns 41,097 shares of the specialty retailer's stock worth $13,083,000 after purchasing an additional 21,319 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Oppenheimer boosted their target price on shares of Pool from $322.00 to $346.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Wall Street Zen upgraded shares of Pool from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Wells Fargo & Company upped their price objective on shares of Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Stephens decreased 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. Finally, Stifel Nicolaus set a $300.00 price objective on shares of Pool in a research note on Friday, April 25th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $342.14.

Pool Stock Performance

Shares of NASDAQ:POOL traded up $17.88 on Wednesday, reaching $330.73. The company's stock had a trading volume of 470,226 shares, compared to its average volume of 530,479. The stock's 50-day moving average is $303.28 and its two-hundred day moving average is $315.00. Pool Corporation has a 52-week low of $282.22 and a 52-week high of $395.60. 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 stock has a market capitalization of $12.34 billion, a P/E ratio of 30.51, a PEG ratio of 4.33 and a beta of 1.07.

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, beating analysts' consensus estimates of $5.12 by $0.05. Pool had a net margin of 7.79% and a return on equity of 30.99%. The business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same period in the prior year, the company earned $4.99 earnings per share. The business's revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Pool Corporation will post 11.32 EPS for the current year.

Pool Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Thursday, August 14th. Pool's dividend payout ratio is currently 46.13%.

Pool declared that its board has initiated a stock repurchase program on Wednesday, April 30th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the specialty retailer to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

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.