Penobscot Investment Management Company Inc. Decreases Holdings in Pool Co. (NASDAQ:POOL)

Penobscot Investment Management Company Inc. trimmed its holdings in shares of Pool Co. (NASDAQ:POOL) by 26.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,592 shares of the specialty retailer’s stock after selling 2,060 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Pool were worth $2,230,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Pool by 56.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 865,362 shares of the specialty retailer’s stock worth $308,156,000 after purchasing an additional 313,190 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Pool by 463.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 240,623 shares of the specialty retailer’s stock worth $85,686,000 after purchasing an additional 197,900 shares during the period. International Assets Investment Management LLC raised its position in Pool by 30,047.2% in the 4th quarter. International Assets Investment Management LLC now owns 183,898 shares of the specialty retailer’s stock worth $73,322,000 after purchasing an additional 183,288 shares during the period. Envestnet Asset Management Inc. raised its position in Pool by 55.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 339,378 shares of the specialty retailer’s stock worth $120,852,000 after purchasing an additional 120,427 shares during the period. Finally, Invesco Ltd. raised its position in Pool by 22.0% in the 3rd quarter. Invesco Ltd. now owns 634,329 shares of the specialty retailer’s stock worth $225,885,000 after purchasing an additional 114,298 shares during the period. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

POOL has been the topic of a number of research analyst reports. TheStreet downgraded shares of Pool from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Loop Capital cut shares of Pool from a “buy” rating to a “hold” rating and increased their target price for the company from $380.00 to $415.00 in a research report on Monday, January 8th. Stifel Nicolaus decreased their target price on shares of Pool from $370.00 to $360.00 and set a “hold” rating for the company in a research report on Monday. Finally, Oppenheimer dropped their target price on shares of Pool from $436.00 to $416.00 and set an “outperform” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Pool has an average rating of “Hold” and an average target price of $391.80.

Insiders Place Their Bets

In other news, General Counsel Jennifer M. Neil sold 1,100 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $401.00, for a total transaction of $441,100.00. Following the completion of the transaction, the general counsel now owns 8,622 shares in the company, valued at $3,457,422. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Pool Price Performance

NASDAQ POOL traded down $5.67 during trading hours on Tuesday, reaching $363.94. The company’s stock had a trading volume of 154,811 shares, compared to its average volume of 330,588. The stock has a market cap of $14.01 billion, a PE ratio of 28.92, a PEG ratio of 3.54 and a beta of 1.00. Pool Co. has a fifty-two week low of $307.77 and a fifty-two week high of $422.73. The company’s 50-day moving average is $392.43 and its two-hundred day moving average is $374.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 1.88.

Pool (NASDAQ:POOL) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.02). The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Pool had a return on equity of 35.49% and a net margin of 9.17%. The company’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 earnings per share. Analysts forecast that Pool Co. will post 13.26 EPS for the current year.

Pool Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Wednesday, March 13th. Pool’s dividend payout ratio is presently 34.43%.

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.