PUREfi Wealth LLC Raises Position in Pool Corporation (NASDAQ:POOL)

PUREfi Wealth LLC raised its holdings in Pool Corporation (NASDAQ:POOL) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 773 shares of the specialty retailer’s stock after acquiring an additional 38 shares during the quarter. PUREfi Wealth LLC’s holdings in Pool were worth $246,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of POOL. Focus Partners Wealth increased its position in shares of Pool by 907.2% in the fourth quarter. Focus Partners Wealth now owns 37,399 shares of the specialty retailer’s stock worth $12,768,000 after purchasing an additional 33,686 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Pool by 816.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 40,860 shares of the specialty retailer’s stock worth $13,601,000 after buying an additional 36,403 shares in the last quarter. Signal Advisors Wealth LLC increased its holdings in shares of Pool by 40.4% in the 1st quarter. Signal Advisors Wealth LLC now owns 3,383 shares of the specialty retailer’s stock worth $1,077,000 after buying an additional 974 shares during the last quarter. World Equity Group Inc. purchased a new stake in shares of Pool during the 4th quarter valued at $272,000. Finally, Landscape Capital Management L.L.C. lifted its holdings in shares of Pool by 104.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 3,778 shares of the specialty retailer’s stock worth $1,288,000 after acquiring an additional 1,926 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

Analysts Set New Price Targets

POOL has been the subject of several research reports. Stephens cut their target price 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 report on Tuesday, April 1st. They issued a “hold” rating and a $344.00 price objective for the company. Wells Fargo & Company set a $300.00 price objective on Pool in a report on Friday, April 25th. Wall Street Zen lowered Pool from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Oppenheimer reduced their price target on shares of Pool from $370.00 to $322.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $336.22.

Insider Activity at Pool

In other Pool news, SVP Jennifer M. Neil sold 1,223 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $315.00, for a total value of $385,245.00. Following the completion of the sale, the senior vice president now owns 9,667 shares in the company, valued at approximately $3,045,105. This trade represents a 11.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by company insiders.

Pool Trading Down 1.7%

Shares of POOL stock opened at $285.50 on Wednesday. The stock has a market capitalization of $10.73 billion, a PE ratio of 26.78, a P/E/G ratio of 3.71 and a beta of 1.12. Pool Corporation has a 1-year low of $282.22 and a 1-year high of $395.60. The business has a 50-day moving average of $302.96 and a 200 day moving average of $328.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 0.53.

Pool (NASDAQ:POOL) last announced its quarterly earnings data 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). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. Pool had a net margin of 7.77% and a return on equity of 30.11%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 EPS. As a group, sell-side analysts anticipate that Pool Corporation will post 11.32 earnings per share for the current year.

Pool Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $1.25 per share. 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 1.75%. The ex-dividend date was Thursday, May 15th. Pool’s dividend payout ratio is currently 46.90%.

Pool announced that its Board of Directors has approved a share repurchase program on Wednesday, April 30th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the specialty retailer to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.