Wealthfront Advisers LLC Buys 2,363 Shares of Pool Corporation (NASDAQ:POOL)

Wealthfront Advisers LLC raised its position in Pool Corporation (NASDAQ:POOL - Free Report) by 19.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,577 shares of the specialty retailer's stock after acquiring an additional 2,363 shares during the quarter. Wealthfront Advisers LLC's holdings in Pool were worth $4,641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Focus Partners Wealth grew its position in Pool by 907.2% during the fourth quarter. Focus Partners Wealth now owns 37,399 shares of the specialty retailer's stock valued at $12,768,000 after buying an additional 33,686 shares during the period. Amalgamated Bank raised its stake in Pool by 3.1% in the first quarter. Amalgamated Bank now owns 8,076 shares of the specialty retailer's stock valued at $2,571,000 after purchasing an additional 246 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 valued at $1,560,000 after purchasing an additional 559 shares in the last quarter. MFG Wealth Management Inc. bought a new position in Pool during the first quarter valued at approximately $921,000. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Pool by 2.1% in the first quarter. Stephens Investment Management Group LLC now owns 117,083 shares of the specialty retailer's stock worth $37,273,000 after purchasing an additional 2,460 shares during the last quarter. Institutional investors own 98.99% of the company's stock.

Analyst Ratings Changes

POOL has been the subject of several research reports. 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 research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Pool in a research report on Tuesday, April 1st. They set a "hold" rating and a $344.00 target price for the company. Oppenheimer reduced their target price on Pool from $370.00 to $322.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Stifel Nicolaus set a $300.00 price objective on Pool in a report on Friday, April 25th. Finally, Wells Fargo & Company lifted their target price on Pool from $300.00 to $320.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $344.50.

Pool Price Performance

POOL opened at $298.81 on Friday. The stock has a market cap of $11.24 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 3.74 and a beta of 1.10. Pool Corporation has a 1 year low of $282.22 and a 1 year high of $395.60. The company has a current ratio of 1.79, a quick ratio of 0.53 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average price of $301.24 and a 200 day moving average price of $318.78.

Pool (NASDAQ:POOL - Get Free Report) last announced its earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.10). Pool had a net margin of 7.77% and a return on equity of 30.11%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company earned $1.85 EPS. Pool's revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts forecast that Pool Corporation will post 11.32 EPS for the current fiscal year.

Pool announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, May 15th. This is a positive change from Pool's previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.67%. Pool's dividend payout ratio is presently 46.90%.

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.

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