Principal Financial Group Inc. reduced its stake in shares of Pool Co. (NASDAQ:POOL) by 3.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 121,014 shares of the specialty retailer’s stock after selling 4,293 shares during the period. Principal Financial Group Inc. owned about 0.30% of Pool worth $40,484,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of POOL. Amundi Pioneer Asset Management Inc. increased its holdings in Pool by 9.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 6,022 shares of the specialty retailer’s stock worth $994,000 after purchasing an additional 500 shares in the last quarter. Raymond James Trust N.A. bought a new stake in Pool during the 2nd quarter worth approximately $417,000. Raymond James Financial Services Advisors Inc. increased its holdings in Pool by 164.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,688 shares of the specialty retailer’s stock worth $1,276,000 after purchasing an additional 2,917 shares in the last quarter. SG Americas Securities LLC increased its holdings in Pool by 219.6% during the 2nd quarter. SG Americas Securities LLC now owns 10,914 shares of the specialty retailer’s stock worth $2,967,000 after purchasing an additional 7,499 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Pool during the 2nd quarter worth approximately $217,000. 94.14% of the stock is owned by hedge funds and other institutional investors.
POOL has been the subject of a number of recent research reports. Stephens assumed coverage on Pool in a report on Wednesday, November 11th. They set an “equal weight” rating for the company. KeyCorp upped their target price on Pool from $335.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. They noted that the move was a valuation call. BidaskClub raised Pool from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 28th. Sidoti upped their target price on Pool from $307.00 to $333.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Finally, Zacks Investment Research lowered Pool from a “buy” rating to a “hold” rating and set a $326.00 target price for the company. in a report on Friday, September 25th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $290.50.
In other Pool news, CAO Hart Melanie Housey sold 1,027 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $338.39, for a total transaction of $347,526.53. Following the sale, the chief accounting officer now owns 10,309 shares in the company, valued at $3,488,462.51. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Joslin sold 5,000 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $360.24, for a total value of $1,801,200.00. Following the sale, the chief financial officer now owns 105,505 shares in the company, valued at approximately $38,007,121.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,571 shares of company stock valued at $23,178,202. 4.00% of the stock is owned by corporate insiders.
Shares of NASDAQ POOL opened at $340.80 on Tuesday. The stock has a fifty day simple moving average of $349.51 and a two-hundred day simple moving average of $298.35. Pool Co. has a 1-year low of $160.35 and a 1-year high of $391.49. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of 48.62 and a beta of 0.86. The company has a current ratio of 2.06, a quick ratio of 0.92 and a debt-to-equity ratio of 0.88.
Pool (NASDAQ:POOL) last announced its quarterly earnings data on Thursday, October 22nd. The specialty retailer reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.57. Pool had a return on equity of 69.72% and a net margin of 8.32%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $992.20 million. During the same period in the prior year, the company earned $1.84 earnings per share. Pool’s revenue was up 27.2% compared to the same quarter last year. Analysts forecast that Pool Co. will post 7.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, November 10th. Pool’s dividend payout ratio (DPR) is 39.79%.
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; fiberglass pools, and spas and packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and related products consisting of irrigation system components, and professional lawn care equipment and supplies.
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