Pool Co. (NASDAQ:POOL) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in Pool Co. (NASDAQ:POOLGet Rating) by 1,335.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,182 shares of the specialty retailer’s stock after purchasing an additional 7,612 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Pool were worth $2,604,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG increased its stake in shares of Pool by 27.7% in the 2nd quarter. Deutsche Bank AG now owns 249,883 shares of the specialty retailer’s stock worth $87,766,000 after acquiring an additional 54,265 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Pool by 19.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,109 shares of the specialty retailer’s stock worth $1,443,000 after acquiring an additional 667 shares during the last quarter. CAPROCK Group Inc. acquired a new stake in shares of Pool in the 2nd quarter worth $351,000. Envestnet Asset Management Inc. increased its stake in shares of Pool by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 173,949 shares of the specialty retailer’s stock worth $61,096,000 after acquiring an additional 5,371 shares during the last quarter. Finally, Bridgewater Associates LP increased its stake in shares of Pool by 20.0% in the 2nd quarter. Bridgewater Associates LP now owns 28,266 shares of the specialty retailer’s stock worth $9,928,000 after acquiring an additional 4,719 shares during the last quarter. 98.15% of the stock is owned by institutional investors and hedge funds.

Pool Stock Performance

Shares of Pool stock opened at $342.81 on Thursday. The business has a 50-day moving average of $318.89 and a 200 day moving average of $335.94. Pool Co. has a 12 month low of $278.10 and a 12 month high of $520.60. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.24 and a beta of 0.84. 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 announced its earnings results on Thursday, October 20th. The specialty retailer reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $4.55 by $0.21. Pool had a return on equity of 65.81% and a net margin of 12.81%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the business posted $4.51 EPS. Pool’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts forecast that Pool Co. will post 18.72 earnings per share for the current year.

Pool Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Thursday, November 10th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, November 9th. Pool’s payout ratio is presently 20.54%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Stifel Nicolaus cut their target price on Pool from $415.00 to $355.00 in a research note on Tuesday, October 18th. Deutsche Bank Aktiengesellschaft raised Pool from a “hold” rating to a “buy” rating and set a $417.00 target price for the company in a research note on Tuesday. Stephens cut their price objective on Pool from $400.00 to $340.00 in a research report on Wednesday, October 19th. Robert W. Baird cut their price objective on Pool from $398.00 to $368.00 and set a “neutral” rating for the company in a research report on Friday, October 21st. Finally, KeyCorp cut their price objective on Pool from $465.00 to $345.00 and set an “overweight” rating for the company in a research report on Friday, October 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Pool presently has a consensus rating of “Hold” and a consensus price target of $392.27.

About Pool

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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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