CX Institutional purchased a new position in shares of Pool Co. (NASDAQ:POOL – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 206 shares of the specialty retailer’s stock, valued at approximately $66,000.
Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings 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 worth $2,207,000 after purchasing an additional 6,496 shares during the period. Curated Wealth Partners LLC bought a new stake in Pool during the 1st quarter valued at $217,000. GAMMA Investing LLC boosted its holdings in Pool by 5.7% in the first quarter. GAMMA Investing LLC now owns 816 shares of the specialty retailer’s stock valued at $260,000 after acquiring an additional 44 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Pool by 4.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 5,265 shares of the specialty retailer’s stock worth $1,676,000 after buying an additional 237 shares during the period. Finally, City Holding Co. purchased a new stake in shares of Pool in the first quarter worth $26,000. Institutional investors own 98.99% of the company’s stock.
Pool Price Performance
Shares of POOL stock opened at $290.47 on Tuesday. Pool Co. has a twelve month low of $284.28 and a twelve month high of $395.60. The company has a market capitalization of $10.92 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12. The company has a current ratio of 2.05, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $303.52 and a 200-day simple moving average of $328.43.
Pool announced that its Board of Directors has approved a share buyback program on Wednesday, April 30th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the specialty retailer to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
Pool Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $1.25 per share. This is a positive change from Pool’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, May 15th. Pool’s payout ratio is presently 46.90%.
Insider Buying and Selling at Pool
In other news, SVP Jennifer M. Neil sold 1,223 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $315.00, for a total transaction of $385,245.00. Following the sale, the senior vice president now owns 9,667 shares in the company, valued at $3,045,105. The trade was a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
POOL has been the subject of a number of research reports. Oppenheimer decreased their target price on shares of Pool from $370.00 to $322.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Pool in a report on Tuesday, April 1st. They set a “hold” rating and a $344.00 price target on the stock. Wall Street Zen cut shares of Pool from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Stephens decreased their price objective on shares of Pool from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Finally, Robert W. Baird lowered their price objective on Pool from $325.00 to $310.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $336.22.
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.
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