CX Institutional Makes New $66,000 Investment in Pool Co. (NASDAQ:POOL)

CX Institutional acquired a new stake in shares of Pool Co. (NASDAQ:POOL) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 206 shares of the specialty retailer’s stock, valued at approximately $66,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Pool in the 4th quarter worth about $116,833,000. GAMMA Investing LLC raised its position in Pool by 33,549.5% during the first quarter. GAMMA Investing LLC now owns 259,774 shares of the specialty retailer’s stock worth $82,699,000 after acquiring an additional 259,002 shares during the period. Wellington Management Group LLP raised its stake in Pool by 27.5% in the 4th quarter. Wellington Management Group LLP now owns 1,042,514 shares of the specialty retailer’s stock valued at $355,435,000 after purchasing an additional 224,674 shares during the last quarter. Berkshire Hathaway Inc increased its position in Pool by 48.2% during the fourth quarter. Berkshire Hathaway Inc now owns 598,689 shares of the specialty retailer’s stock worth $204,117,000 after purchasing an additional 194,632 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Pool by 25.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 636,007 shares of the specialty retailer’s stock worth $216,840,000 after buying an additional 129,780 shares during the period. Institutional investors own 98.99% of the company’s stock.

Insider Activity

In other news, SVP Jennifer M. Neil sold 1,223 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $315.00, for a total transaction of $385,245.00. Following the completion of the transaction, the senior vice president now directly owns 9,667 shares of the company’s stock, valued at $3,045,105. This represents a 11.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on POOL. Stifel Nicolaus set a $300.00 price target on shares of Pool in a report on Friday, April 25th. Robert W. Baird lowered their price target on Pool from $325.00 to $310.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Pool in a research note on Tuesday, April 1st. They issued a “hold” rating and a $344.00 target price for the company. Wall Street Zen downgraded shares of Pool from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company set a $300.00 price target on Pool in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Pool presently has an average rating of “Hold” and an average target price of $336.22.

Pool Trading Up 0.5%

NASDAQ:POOL opened at $290.47 on Tuesday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 2.03 and a beta of 1.12. Pool Co. has a 12 month low of $284.28 and a 12 month high of $395.60. The company has a quick ratio of 0.77, a current ratio of 2.05 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $303.52 and its 200-day moving average is $328.43.

Pool (NASDAQ:POOL) last issued its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.10). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.10 billion. Pool had a return on equity of 31.11% and a net margin of 8.18%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.85 earnings per share. Equities analysts anticipate that Pool Co. will post 11.32 EPS for the current year.

Pool announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the specialty retailer to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Pool Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, May 15th. This is a boost from Pool’s previous quarterly dividend of $1.20. Pool’s dividend payout ratio is presently 46.90%.

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.