Bank of New York Mellon Corp Boosts Position in Pool Corporation (POOL)
Bank of New York Mellon Corp increased its position in Pool Corporation (NASDAQ:POOL) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547,510 shares of the specialty retailer’s stock after buying an additional 27,912 shares during the period. Bank of New York Mellon Corp owned 1.33% of Pool Corporation worth $65,335,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in POOL. AMP Capital Investors Ltd raised its position in Pool Corporation by 189.2% in the third quarter. AMP Capital Investors Ltd now owns 12,434 shares of the specialty retailer’s stock worth $1,174,000 after buying an additional 8,134 shares in the last quarter. Marietta Investment Partners LLC purchased a new stake in shares of Pool Corporation during the third quarter worth approximately $2,350,000. Baird Financial Group Inc. purchased a new stake in shares of Pool Corporation during the fourth quarter worth approximately $24,326,000. Teachers Advisors LLC increased its stake in shares of Pool Corporation by 15.0% in the fourth quarter. Teachers Advisors LLC now owns 203,713 shares of the specialty retailer’s stock worth $21,255,000 after buying an additional 26,500 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Pool Corporation during the fourth quarter worth approximately $9,228,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pool Corporation (NASDAQ:POOL) traded down 0.48% on Friday, hitting $121.37. The company had a trading volume of 316,775 shares. The stock has a market cap of $5.02 billion, a PE ratio of 33.57 and a beta of 0.95. The company has a 50-day moving average of $120.51 and a 200 day moving average of $113.88. Pool Corporation has a 12 month low of $87.02 and a 12 month high of $123.42.
Pool Corporation (NASDAQ:POOL) last announced its quarterly earnings results on Thursday, April 20th. The specialty retailer reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.12. Pool Corporation had a net margin of 5.95% and a return on equity of 61.85%. The firm had revenue of $546.44 million during the quarter. During the same period in the prior year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts anticipate that Pool Corporation will post $4.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Wednesday, May 17th were issued a dividend of $0.37 per share. This is an increase from Pool Corporation’s previous quarterly dividend of $0.31. This represents a $1.48 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, May 15th. Pool Corporation’s dividend payout ratio (DPR) is currently 41.23%.
A number of brokerages recently commented on POOL. BidaskClub upgraded shares of Pool Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday. Wedbush restated an “outperform” rating and issued a $128.00 price objective on shares of Pool Corporation in a research report on Friday, April 7th. Zacks Investment Research downgraded shares of Pool Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, May 24th. Finally, Robert W. Baird upgraded shares of Pool Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $103.00 to $130.00 in a research report on Friday, February 17th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $131.67.
In other Pool Corporation news, Chairman Wilson B. Sexton sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $119.06, for a total value of $5,953,000.00. Following the completion of the sale, the chairman now owns 4,445 shares in the company, valued at approximately $529,221.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Wilson B. Sexton sold 16,080 shares of the firm’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $118.89, for a total transaction of $1,911,751.20. Following the completion of the sale, the chairman now owns 4,445 shares of the company’s stock, valued at approximately $528,466.05. The disclosure for this sale can be found here. Insiders have sold a total of 81,452 shares of company stock valued at $9,733,040 over the last three months. 7.00% of the stock is currently owned by insiders.
Pool Corporation Company Profile
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is a distributor of irrigation and landscape products in the United States. As of December 31, 2016, the Company operated 344 sales centers in North America, Europe, South America and Australia, through its four distribution networks, including SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT).
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