Logan Capital Management Inc. lowered its stake in shares of Pool Co. (NASDAQ:POOL - Free Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,206 shares of the specialty retailer's stock after selling 1,428 shares during the quarter. Logan Capital Management Inc. owned about 0.06% of Pool worth $7,571,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of POOL. Vanguard Group Inc. raised its holdings in Pool by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 4,443,451 shares of the specialty retailer's stock valued at $1,514,950,000 after acquiring an additional 21,870 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Pool by 22.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,260,313 shares of the specialty retailer's stock valued at $474,886,000 after buying an additional 232,914 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Pool by 27.5% during the 4th quarter. Wellington Management Group LLP now owns 1,042,514 shares of the specialty retailer's stock valued at $355,435,000 after acquiring an additional 224,674 shares in the last quarter. Geode Capital Management LLC raised its position in Pool by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 977,862 shares of the specialty retailer's stock worth $332,566,000 after purchasing an additional 13,519 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Pool by 6.2% during the fourth quarter. Invesco Ltd. now owns 763,817 shares of the specialty retailer's stock valued at $260,416,000 after purchasing an additional 44,884 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Pool
In other news, Director De La Mesa Manuel J. Perez sold 10,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $346.00, for a total value of $3,460,000.00. Following the completion of the transaction, the director now owns 62,577 shares in the company, valued at $21,651,642. This trade represents a 13.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jennifer M. Neil sold 1,223 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $315.00, for a total value of $385,245.00. Following the transaction, the senior vice president now directly owns 9,667 shares of the company's stock, valued at $3,045,105. This trade represents a 11.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.00% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Stifel Nicolaus set a $300.00 target price on Pool in a research report on Friday, April 25th. Oppenheimer decreased their price objective on shares of Pool from $370.00 to $322.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Robert W. Baird cut their target price on shares of Pool from $325.00 to $310.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Stephens decreased their price target on Pool from $400.00 to $350.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Wells Fargo & Company set a $300.00 price objective on Pool in a research note on Friday, April 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $336.22.
Read Our Latest Stock Analysis on POOL
Pool Trading Up 1.5%
Shares of NASDAQ:POOL traded up $4.51 during mid-day trading on Thursday, reaching $313.53. The stock had a trading volume of 460,200 shares, compared to its average volume of 391,690. The firm has a market cap of $11.79 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The firm has a 50 day simple moving average of $310.80 and a two-hundred day simple moving average of $338.66. The company has a current ratio of 2.05, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71. Pool Co. has a twelve month low of $284.28 and a twelve month high of $395.60.
Pool (NASDAQ:POOL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.10). Pool had a return on equity of 31.11% and a net margin of 8.18%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company earned $1.85 earnings per share. The firm's revenue was down 4.4% compared to the same quarter last year. On average, research analysts predict that Pool Co. will post 11.32 EPS for the current fiscal 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 shares. This repurchase authorization permits the specialty retailer to buy 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 Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a $1.25 dividend. The ex-dividend date is 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 1.59%. Pool's dividend payout ratio is presently 46.90%.
Pool Profile
(
Free Report)
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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