Berkshire Hathaway Inc cut its holdings in Pool Corporation (NASDAQ:POOL – Free Report) by 11.3% in the fourth quarter, HoldingsChannel reports. The firm owned 3,068,885 shares of the specialty retailer’s stock after selling 390,000 shares during the period. Pool accounts for approximately 0.3% of Berkshire Hathaway Inc’s portfolio, making the stock its 26th biggest holding. Berkshire Hathaway Inc owned approximately 0.08% of Pool worth $702,007,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of POOL. T. Rowe Price Investment Management Inc. boosted its holdings in Pool by 2,435.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,290,958 shares of the specialty retailer’s stock worth $295,307,000 after purchasing an additional 1,240,041 shares in the last quarter. Norges Bank acquired a new position in Pool during the 4th quarter worth $97,612,000. Wellington Management Group LLP lifted its position in Pool by 16.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,563,373 shares of the specialty retailer’s stock worth $794,825,000 after acquiring an additional 357,643 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Pool during the 4th quarter worth $68,625,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in Pool by 254.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 339,716 shares of the specialty retailer’s stock worth $77,710,000 after acquiring an additional 243,907 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.
Pool Stock Performance
NASDAQ POOL opened at $194.34 on Thursday. The stock has a market cap of $7.08 billion, a P/E ratio of 17.88, a PEG ratio of 2.51 and a beta of 1.10. The company’s 50-day simple moving average is $197.94 and its 200 day simple moving average is $222.02. Pool Corporation has a twelve month low of $172.68 and a twelve month high of $345.00. The company has a quick ratio of 0.55, a current ratio of 1.87 and a debt-to-equity ratio of 1.09.
Pool Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a $1.30 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This is an increase from Pool’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Pool’s payout ratio is presently 47.84%.
Pool announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 29th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
POOL has been the subject of a number of research analyst reports. Weiss Ratings lowered shares of Pool from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Wells Fargo & Company cut their target price on shares of Pool from $230.00 to $215.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 8th. Stifel Nicolaus cut their target price on shares of Pool from $240.00 to $210.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Robert W. Baird cut their target price on shares of Pool from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, Bank of America cut their target price on shares of Pool from $229.00 to $226.00 and set an “underperform” rating for the company in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Pool presently has an average rating of “Hold” and a consensus price target of $261.38.
Read Our Latest Report on Pool
Insider Activity
In other news, Director John E. Stokely acquired 1,000 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were purchased at an average cost of $193.06 per share, with a total value of $193,060.00. Following the completion of the purchase, the director owned 16,230 shares of the company’s stock, valued at $3,133,363.80. This represents a 6.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David G. Whalen acquired 525 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were purchased at an average cost of $190.44 per share, for a total transaction of $99,981.00. Following the completion of the purchase, the director directly owned 8,936 shares of the company’s stock, valued at approximately $1,701,771.84. The trade was a 6.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 21,989 shares of company stock valued at $4,042,747 over the last three months. 3.00% of the stock is owned by corporate insiders.
Key Headlines Impacting Pool
Here are the key news stories impacting Pool this week:
- Neutral Sentiment: Recent articles are centered on the Lincoln Memorial Reflecting Pool algae issue and related political coverage, which is unrelated to Pool Corporation’s business and is unlikely to have a direct impact on POOL shares.
- Neutral Sentiment: No company-specific earnings, guidance, analyst, or acquisition news was included in the latest headlines, so the stock’s move appears more likely tied to broader market sentiment than a fundamental update for Pool Corporation.
About Pool
Pool Corporation is a leading wholesale distributor of swimming pool supplies, equipment, and related outdoor living products. Headquartered in Covington, Louisiana, the company serves a diverse customer base that includes service professionals, independent retailers, high-volume builders, and national retail chains. Pool Corporation’s extensive branch network enables it to maintain strong local customer relationships while leveraging its scale to source products efficiently from manufacturers around the world.
The company’s product portfolio spans pool and spa chemicals, water treatment equipment, pumps, filters, heaters, automation and control systems, liners, safety covers, and cleaning accessories.
See Also
- Five stocks we like better than Pool
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding POOL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pool Corporation (NASDAQ:POOL – Free Report).
Receive News & Ratings for Pool Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pool and related companies with MarketBeat.com's FREE daily email newsletter.
