M&T Bank Corp Raises Stock Position in Pool Co. (NASDAQ:POOL)

M&T Bank Corp lifted its holdings in Pool Co. (NASDAQ:POOLGet Rating) by 14.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,678 shares of the specialty retailer’s stock after acquiring an additional 215 shares during the period. M&T Bank Corp’s holdings in Pool were worth $554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. OLD National Bancorp IN grew its position in shares of Pool by 3.8% during the first quarter. OLD National Bancorp IN now owns 757 shares of the specialty retailer’s stock worth $320,000 after purchasing an additional 28 shares in the last quarter. Sugarloaf Wealth Management LLC grew its position in shares of Pool by 20.6% during the second quarter. Sugarloaf Wealth Management LLC now owns 170 shares of the specialty retailer’s stock worth $60,000 after purchasing an additional 29 shares in the last quarter. Atria Investments LLC grew its position in shares of Pool by 0.3% during the first quarter. Atria Investments LLC now owns 10,218 shares of the specialty retailer’s stock worth $4,321,000 after purchasing an additional 30 shares in the last quarter. Foundations Investment Advisors LLC grew its position in shares of Pool by 2.3% during the second quarter. Foundations Investment Advisors LLC now owns 1,384 shares of the specialty retailer’s stock worth $516,000 after purchasing an additional 31 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Pool by 7.2% during the first quarter. Cresset Asset Management LLC now owns 479 shares of the specialty retailer’s stock worth $203,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Pool Price Performance

NASDAQ:POOL opened at $351.36 on Friday. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.61 and a beta of 0.81. Pool Co. has a 1 year low of $278.10 and a 1 year high of $582.27. The business has a 50 day simple moving average of $319.40 and a 200-day simple moving average of $356.77. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.98 and a quick ratio of 0.90.

Pool (NASDAQ:POOLGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The specialty retailer reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.65 by $0.13. Pool had a return on equity of 65.81% and a net margin of 12.81%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company earned $4.51 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities analysts forecast that Pool Co. will post 18.71 EPS for the current year.

Pool Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Thursday, November 10th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Wednesday, November 9th. Pool’s dividend payout ratio is currently 20.54%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stephens cut their target price on Pool from $400.00 to $340.00 in a research report on Wednesday, October 19th. Stifel Nicolaus dropped their price target on Pool from $415.00 to $355.00 in a research note on Tuesday, October 18th. StockNews.com lowered Pool from a “hold” rating to a “sell” rating in a research note on Wednesday. Robert W. Baird dropped their price target on Pool from $398.00 to $368.00 and set a “neutral” rating for the company in a research note on Friday, October 21st. Finally, The Goldman Sachs Group dropped their price target on Pool from $410.00 to $360.00 and set a “buy” rating for the company in a research note on Friday, October 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $397.50.

Pool Profile

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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; fiberglass pools, and hot tubs and packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and related products consisting of irrigation system components, and professional lawn care equipment and supplies.

Further Reading

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Institutional Ownership by Quarter for Pool (NASDAQ:POOL)

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