Principal Financial Group Inc. lessened its stake in Pool Co. (NASDAQ:POOL) by 1.4% in the first quarter, HoldingsChannel reports. The firm owned 175,377 shares of the specialty retailer’s stock after selling 2,439 shares during the quarter. Principal Financial Group Inc.’s holdings in Pool were worth $28,932,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Pool by 5.9% in the 1st quarter. BlackRock Inc. now owns 3,745,431 shares of the specialty retailer’s stock valued at $617,884,000 after buying an additional 209,876 shares during the last quarter. Vanguard Group Inc grew its position in shares of Pool by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 3,392,184 shares of the specialty retailer’s stock valued at $566,088,000 after buying an additional 57,784 shares during the last quarter. Eagle Asset Management Inc. grew its position in shares of Pool by 9.5% in the 1st quarter. Eagle Asset Management Inc. now owns 1,117,071 shares of the specialty retailer’s stock valued at $184,283,000 after buying an additional 96,890 shares during the last quarter. Atlanta Capital Management Co. L L C grew its position in shares of Pool by 18.8% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 912,826 shares of the specialty retailer’s stock valued at $135,692,000 after buying an additional 144,724 shares during the last quarter. Finally, Carillon Tower Advisers Inc. grew its position in shares of Pool by 11.2% in the 1st quarter. Carillon Tower Advisers Inc. now owns 735,229 shares of the specialty retailer’s stock valued at $121,290,000 after buying an additional 73,807 shares during the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.
POOL has been the topic of a number of analyst reports. BidaskClub upgraded Pool from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 7th. Robert W. Baird upgraded Pool from a “neutral” rating to an “outperform” rating and upped their price target for the company from $160.00 to $177.00 in a research report on Friday, February 22nd. Zacks Investment Research upgraded Pool from a “hold” rating to a “buy” rating and set a $191.00 price target on the stock in a research report on Tuesday, April 16th. ValuEngine upgraded Pool from a “hold” rating to a “buy” rating in a research report on Wednesday, February 27th. Finally, Stephens set a $186.00 target price on Pool and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $171.20.
Shares of Pool stock opened at $191.02 on Friday. Pool Co. has a one year low of $136.83 and a one year high of $193.03. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.60 and a current ratio of 1.96. The stock has a market cap of $7.49 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 1.32 and a beta of 0.93.
Pool (NASDAQ:POOL) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $0.59 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.05). Pool had a net margin of 7.83% and a return on equity of 79.99%. The business had revenue of $597.50 million for the quarter, compared to the consensus estimate of $608.36 million. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Pool Co. will post 6.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a dividend of $0.55 per share. This is an increase from Pool’s previous quarterly dividend of $0.45. This represents a $2.20 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, May 16th. Pool’s dividend payout ratio is 39.15%.
Pool announced that its Board of Directors has approved a stock repurchase program on Thursday, May 2nd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the specialty retailer to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Pool Corp. engages in the wholesale distribution of swimming pool supplies, equipment and related leisure products. It also provides irrigation and landscape products. The company was founded in 1993 and is headquartered in Covington, LA.
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