DAVENPORT & Co LLC Trims Stake in Pool Corporation $POOL

DAVENPORT & Co LLC reduced its stake in shares of Pool Corporation (NASDAQ:POOL) by 15.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,442 shares of the specialty retailer’s stock after selling 257 shares during the quarter. DAVENPORT & Co LLC’s holdings in Pool were worth $420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of POOL. GAMMA Investing LLC increased its stake in shares of Pool by 5.7% in the 1st quarter. GAMMA Investing LLC now owns 816 shares of the specialty retailer’s stock valued at $260,000 after purchasing an additional 44 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Pool by 1,486.5% in the 1st quarter. SG Americas Securities LLC now owns 6,933 shares of the specialty retailer’s stock valued at $2,207,000 after purchasing an additional 6,496 shares in the last quarter. CX Institutional purchased a new position in shares of Pool in the 1st quarter valued at about $66,000. Fifth Third Bancorp increased its stake in shares of Pool by 6.2% in the 1st quarter. Fifth Third Bancorp now owns 1,583 shares of the specialty retailer’s stock valued at $504,000 after purchasing an additional 93 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Pool by 15.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 484 shares of the specialty retailer’s stock valued at $154,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Pool Price Performance

POOL stock opened at $289.91 on Monday. 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 business has a 50 day simple moving average of $314.60 and a 200-day simple moving average of $307.55. The firm has a market capitalization of $10.82 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 3.50 and a beta of 1.11. Pool Corporation has a 1 year low of $282.22 and a 1 year high of $395.60.

Pool (NASDAQ:POOL) last posted its quarterly earnings results on Thursday, July 24th. The specialty retailer reported $5.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.05. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.79 billion. Pool had a return on equity of 30.99% and a net margin of 7.79%.The business’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $4.99 earnings per share. Pool has set its FY 2025 guidance at 10.700-11.200 EPS. Equities research analysts anticipate that Pool Corporation will post 11.32 earnings per share for the current fiscal year.

Pool Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a $1.25 dividend. The ex-dividend date was Thursday, August 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. Pool’s dividend payout ratio is 46.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Pool from $300.00 to $320.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Pool from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Guggenheim began coverage on Pool in a research note on Wednesday. They set a “neutral” rating for the company. Oppenheimer boosted their price objective on Pool from $322.00 to $346.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Pool in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $342.14.

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.