Federated Hermes Inc. Sells 338 Shares of Pool Co. (NASDAQ:POOL)

Federated Hermes Inc. cut its holdings in Pool Co. (NASDAQ:POOL) by 74.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116 shares of the specialty retailer’s stock after selling 338 shares during the period. Federated Hermes Inc.’s holdings in Pool were worth $36,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC increased its stake in shares of Pool by 68.9% during the second quarter. Tortoise Investment Management LLC now owns 103 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 42 shares during the period. Crewe Advisors LLC raised its stake in Pool by 232.4% during the 2nd quarter. Crewe Advisors LLC now owns 113 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 79 shares during the last quarter. UMB Bank n.a. boosted its position in Pool by 26.2% in the second quarter. UMB Bank n.a. now owns 207 shares of the specialty retailer’s stock worth $64,000 after purchasing an additional 43 shares during the last quarter. Ridgewood Investments LLC purchased a new position in shares of Pool in the second quarter worth approximately $74,000. Finally, Summit Securities Group LLC bought a new position in shares of Pool in the second quarter worth about $75,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Pool Price Performance

Shares of NASDAQ POOL opened at $366.07 on Thursday. The firm has a market cap of $14.01 billion, a P/E ratio of 28.64, a P/E/G ratio of 2.70 and a beta of 1.00. The business’s 50 day moving average price is $352.34 and its 200 day moving average price is $358.57. Pool Co. has a 52 week low of $293.51 and a 52 week high of $422.73. The company has a quick ratio of 0.88, a current ratio of 2.48 and a debt-to-equity ratio of 0.75.

Pool (NASDAQ:POOL) last released its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $4.99 EPS for the quarter, beating the consensus estimate of $4.90 by $0.09. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.74 billion. Pool had a net margin of 8.58% and a return on equity of 32.85%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned $5.89 earnings per share. On average, sell-side analysts expect that Pool Co. will post 10.99 earnings per share for the current year.

Pool Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.31%. Pool’s dividend payout ratio (DPR) is presently 37.56%.

Wall Street Analyst Weigh In

A number of research firms have commented on POOL. The Goldman Sachs Group raised their price target on Pool from $365.00 to $415.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com lowered Pool from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their price objective on Pool from $285.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Loop Capital reduced their price objective on shares of Pool from $370.00 to $305.00 and set a “hold” rating for the company in a research note on Tuesday, June 25th. Finally, Oppenheimer raised their price target on shares of Pool from $356.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pool currently has a consensus rating of “Hold” and an average price target of $350.00.

Pool Company 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.