Kingsview Wealth Management LLC lowered its stake in shares of Pool Co. (NASDAQ:POOL – Get Rating) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,541 shares of the specialty retailer’s stock after selling 172 shares during the period. Kingsview Wealth Management LLC’s holdings in Pool were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc boosted its holdings in Pool by 33.7% during the third quarter. Prospera Financial Services Inc now owns 722 shares of the specialty retailer’s stock worth $231,000 after buying an additional 182 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Pool by 127.4% during the third quarter. Canada Pension Plan Investment Board now owns 3,570 shares of the specialty retailer’s stock worth $1,136,000 after buying an additional 2,000 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Pool by 27.7% in the second quarter. Deutsche Bank AG now owns 249,883 shares of the specialty retailer’s stock valued at $87,766,000 after purchasing an additional 54,265 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of Pool by 20.0% in the second quarter. Bridgewater Associates LP now owns 28,266 shares of the specialty retailer’s stock valued at $9,928,000 after purchasing an additional 4,719 shares in the last quarter. Finally, Noked Israel Ltd lifted its holdings in shares of Pool by 41.0% in the second quarter. Noked Israel Ltd now owns 69,675 shares of the specialty retailer’s stock valued at $24,472,000 after purchasing an additional 20,265 shares in the last quarter. Hedge funds and other institutional investors own 98.15% of the company’s stock.
Analysts Set New Price Targets
POOL has been the topic of several recent research reports. Oppenheimer initiated coverage on shares of Pool in a report on Thursday, March 9th. They issued an “outperform” rating and a $408.00 price target on the stock. Robert W. Baird upped their price target on shares of Pool from $368.00 to $404.00 and gave the company a “neutral” rating in a report on Friday, February 17th. Jefferies Financial Group upped their price target on shares of Pool from $325.00 to $350.00 and gave the company a “hold” rating in a report on Monday, February 13th. Bank of America assumed coverage on shares of Pool in a report on Thursday, December 15th. They issued an “underperform” rating and a $291.00 price target on the stock. Finally, Stifel Nicolaus lowered shares of Pool from a “buy” rating to a “hold” rating and boosted their price objective for the company from $355.00 to $360.00 in a research report on Monday, February 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $391.09.
Pool Stock Performance
Pool (NASDAQ:POOL – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The specialty retailer reported $1.79 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.21). Pool had a return on equity of 61.70% and a net margin of 12.11%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $2.30 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Pool Co. will post 16.52 EPS for the current year.
Pool Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 15th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, March 14th. Pool’s payout ratio is currently 21.46%.
Pool Corp. engages in the wholesale distribution of swimming pool supplies, equipment, and related leisure products. It also offers non-discretionary pool maintenance products such as chemicals and replacement parts, discretionary products like packaged pool kits, whole goods, irrigation, and landscape products, including a complete line of commercial and residential irrigation products and parts, power equipment for the professional landscape market, specialty products such as outdoor lighting, grills, and outdoor kitchen components, and golf irrigation and water management products.
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