CI Investments Inc. Has $28.97 Million Stock Holdings in Pool Corporation $POOL

CI Investments Inc. lifted its holdings in shares of Pool Corporation (NASDAQ:POOL) by 40.8% in the first quarter, Holdings Channel.com reports. The fund owned 143,186 shares of the specialty retailer’s stock after purchasing an additional 41,489 shares during the quarter. CI Investments Inc.’s holdings in Pool were worth $28,971,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. First Trust Advisors LP raised its position in Pool by 14.8% in the first quarter. First Trust Advisors LP now owns 19,891 shares of the specialty retailer’s stock worth $4,025,000 after purchasing an additional 2,561 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Pool by 20.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,054 shares of the specialty retailer’s stock valued at $1,427,000 after purchasing an additional 1,209 shares in the last quarter. Copeland Capital Management LLC grew its stake in shares of Pool by 1.8% in the 1st quarter. Copeland Capital Management LLC now owns 71,259 shares of the specialty retailer’s stock valued at $14,418,000 after purchasing an additional 1,233 shares during the period. Bessemer Group Inc. grew its stake in shares of Pool by 114.7% in the 1st quarter. Bessemer Group Inc. now owns 4,159 shares of the specialty retailer’s stock valued at $841,000 after purchasing an additional 2,222 shares during the period. Finally, D.A. Davidson & CO. bought a new stake in shares of Pool in the 1st quarter valued at approximately $319,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Key Pool News

Here are the key news stories impacting Pool this week:

• Positive Sentiment: Longer-term industry interest remains supportive, with a report projecting Europe’s pool chemicals market to grow to $932.5 million by 2032, which reinforces demand for pool maintenance products and services. Europe Pool Chemicals Market to Reach USD 932.5 Mn by 2032
• Neutral Sentiment: Consumer-interest articles about pool decorating, hygiene, and heating highlight ongoing public engagement with pools, but they are not direct catalysts for Pool Corporation’s earnings or margins. The pool decorating ideas designers use to make backyards feel like vacation The Biggest Hygiene Mistakes People Make in the Pool Pool Heating Solutions for Comfortable Swimming in Every Season
• Neutral Sentiment: Minto Group’s new outdoor pool project in Alberta is a local real-estate amenity announcement, which may modestly reflect healthy construction activity but has no direct impact on POOL’s financial outlook. Minto Group Breaks Ground on Wildflower’s Hillside Hub, Featuring Airdrie’s First Outdoor Pool
• Negative Sentiment: Bank of America reportedly issued a pessimistic forecast for Pool Corporation’s stock, which could weigh on sentiment and reinforce concerns about near-term performance. Bank of America Issues Pessimistic Forecast for Pool (NASDAQ:POOL) Stock Price

Insider Buying and Selling

In related news, Director David G. Whalen acquired 525 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $190.44 per share, for a total transaction of $99,981.00. Following the completion of the acquisition, the director owned 8,936 shares of the company’s stock, valued at $1,701,771.84. This trade represents a 6.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John E. Stokely bought 1,000 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was bought at an average cost of $193.06 per share, for a total transaction of $193,060.00. Following the purchase, the director directly owned 16,230 shares of the company’s stock, valued at approximately $3,133,363.80. This trade represents a 6.57% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 21,989 shares of company stock valued at $4,042,747 in the last three months. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on POOL. Stifel Nicolaus raised their target price on Pool from $210.00 to $235.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Bank of America decreased their price objective on shares of Pool from $226.00 to $206.00 and set an “underperform” rating on the stock in a research note on Monday. Wells Fargo & Company dropped their price objective on shares of Pool from $230.00 to $215.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Wall Street Zen raised Pool from a “sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings lowered Pool from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 14th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $262.00.

Pool Stock Performance

Shares of NASDAQ:POOL opened at $196.19 on Thursday. The company has a current ratio of 1.87, a quick ratio of 0.55 and a debt-to-equity ratio of 1.09. Pool Corporation has a 1-year low of $172.68 and a 1-year high of $345.00. The stock has a market capitalization of $7.15 billion, a P/E ratio of 18.05, a P/E/G ratio of 2.53 and a beta of 1.05. The business has a 50-day moving average price of $195.77 and a two-hundred day moving average price of $216.82.

Pool (NASDAQ:POOL) last announced its quarterly earnings data on Thursday, April 23rd. The specialty retailer reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Pool had a net margin of 7.57% and a return on equity of 32.37%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. Equities analysts predict that Pool Corporation will post 11.05 earnings per share for the current year.

Pool announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 29th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Pool Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Pool’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, May 14th. Pool’s payout ratio is presently 47.84%.

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.