State of Michigan Retirement System Lowers Position in Pool Co. (NASDAQ:POOL)

State of Michigan Retirement System trimmed its position in shares of Pool Co. (NASDAQ:POOL) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,989 shares of the specialty retailer’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Pool were worth $3,685,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in shares of Pool by 154.0% in the first quarter. Nordea Investment Management AB now owns 124,784 shares of the specialty retailer’s stock valued at $50,856,000 after acquiring an additional 75,655 shares in the last quarter. TD Asset Management Inc boosted its stake in Pool by 67.4% in the 1st quarter. TD Asset Management Inc now owns 306,447 shares of the specialty retailer’s stock worth $123,651,000 after purchasing an additional 123,387 shares during the period. BNP Paribas Financial Markets grew its holdings in Pool by 9.4% during the 4th quarter. BNP Paribas Financial Markets now owns 44,628 shares of the specialty retailer’s stock valued at $17,794,000 after buying an additional 3,853 shares in the last quarter. M&G Plc bought a new stake in shares of Pool during the first quarter valued at approximately $4,436,000. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Pool by 22.2% in the fourth quarter. TimesSquare Capital Management LLC now owns 153,314 shares of the specialty retailer’s stock worth $61,128,000 after buying an additional 27,890 shares in the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on POOL shares. Stephens reduced their target price on Pool from $425.00 to $350.00 and set an “overweight” rating on the stock in a report on Tuesday, June 25th. Wells Fargo & Company boosted their target price on shares of Pool from $285.00 to $330.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their price objective on Pool from $365.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Oppenheimer lifted their price objective on shares of Pool from $356.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, StockNews.com downgraded shares of Pool from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Pool has an average rating of “Hold” and a consensus price target of $347.22.

Pool Stock Down 1.3 %

NASDAQ:POOL opened at $351.92 on Wednesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.48 and a quick ratio of 0.88. The company’s fifty day moving average price is $336.08 and its 200-day moving average price is $364.05. Pool Co. has a 1-year low of $293.51 and a 1-year high of $422.73. The firm has a market capitalization of $13.49 billion, a P/E ratio of 27.54, a PEG ratio of 2.53 and a beta of 1.00.

Pool (NASDAQ:POOL) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $4.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.90 by $0.09. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.74 billion. Pool had a return on equity of 32.85% and a net margin of 8.58%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $5.89 EPS. As a group, equities research analysts anticipate that Pool Co. will post 10.98 EPS for the current year.

Pool Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, August 15th. Pool’s dividend payout ratio is presently 37.56%.

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.