State Treasurer State of Michigan boosted its stake in Pool Corporation (NASDAQ:POOL) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the specialty retailer’s stock after buying an additional 300 shares during the period. State Treasurer State of Michigan’s holdings in Pool Corporation were worth $1,999,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of POOL. BlackRock Inc. increased its position in shares of Pool Corporation by 12,429.3% in the first quarter. BlackRock Inc. now owns 3,260,758 shares of the specialty retailer’s stock valued at $389,106,000 after buying an additional 3,234,733 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Pool Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,172,624 shares of the specialty retailer’s stock valued at $378,589,000 after buying an additional 126,641 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Pool Corporation by 8.1% in the first quarter. JPMorgan Chase & Co. now owns 1,991,051 shares of the specialty retailer’s stock valued at $237,591,000 after buying an additional 149,808 shares in the last quarter. State Street Corp increased its position in shares of Pool Corporation by 1.4% in the first quarter. State Street Corp now owns 1,099,499 shares of the specialty retailer’s stock valued at $131,204,000 after buying an additional 14,962 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of Pool Corporation by 30.8% in the first quarter. Eagle Asset Management Inc. now owns 1,014,091 shares of the specialty retailer’s stock valued at $121,011,000 after buying an additional 239,013 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Pool Corporation (POOL) traded up 2.50% during mid-day trading on Friday, reaching $108.53. 345,388 shares of the company were exchanged. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 28.21 and a beta of 0.91. Pool Corporation has a 1-year low of $88.65 and a 1-year high of $124.26. The company has a 50 day moving average of $113.60 and a 200-day moving average of $116.46.

Pool Corporation (NASDAQ:POOL) last posted its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by $0.03. The firm had revenue of $988.16 million for the quarter. Pool Corporation had a net margin of 6.15% and a return on equity of 63.34%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS. On average, equities research analysts forecast that Pool Corporation will post $4.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.36%. Pool Corporation’s dividend payout ratio (DPR) is presently 38.74%.

Pool Corporation announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 3rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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Several research analysts recently weighed in on POOL shares. Zacks Investment Research raised shares of Pool Corporation from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a report on Friday, June 16th. BidaskClub downgraded shares of Pool Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Johnson Rice raised shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a report on Monday, July 24th. Five equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $125.67.

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).

Institutional Ownership by Quarter for Pool Corporation (NASDAQ:POOL)

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