State of Wisconsin Investment Board Sells 5,080 Shares of Pool Corporation (POOL)
State of Wisconsin Investment Board reduced its stake in Pool Corporation (NASDAQ:POOL) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,111 shares of the specialty retailer’s stock after selling 5,080 shares during the period. State of Wisconsin Investment Board owned 0.13% of Pool Corporation worth $6,362,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new position in Pool Corporation during the first quarter valued at approximately $764,000. First Trust Advisors LP raised its position in Pool Corporation by 0.3% in the first quarter. First Trust Advisors LP now owns 75,526 shares of the specialty retailer’s stock valued at $9,013,000 after buying an additional 253 shares in the last quarter. 361 Capital LLC bought a new position in Pool Corporation during the first quarter valued at approximately $793,000. Capital One National Association raised its position in Pool Corporation by 5.0% in the first quarter. Capital One National Association now owns 16,106 shares of the specialty retailer’s stock valued at $1,922,000 after buying an additional 770 shares in the last quarter. Finally, Chicago Equity Partners LLC raised its position in Pool Corporation by 53.2% in the first quarter. Chicago Equity Partners LLC now owns 85,180 shares of the specialty retailer’s stock valued at $10,165,000 after buying an additional 29,565 shares in the last quarter. Institutional investors own 92.30% of the company’s stock.
Shares of Pool Corporation (NASDAQ POOL) opened at 97.30 on Wednesday. The firm has a 50-day moving average of $109.79 and a 200 day moving average of $116.41. The company has a market cap of $4.01 billion, a P/E ratio of 25.29 and a beta of 0.91. Pool Corporation has a 52 week low of $88.64 and a 52 week high of $124.25.
Pool Corporation (NASDAQ:POOL) last released its earnings results 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. Pool Corporation had a net margin of 6.15% and a return on equity of 63.34%. The company had revenue of $988.16 million during the quarter. During the same period last year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities analysts expect that Pool Corporation will post $4.21 EPS for the current fiscal year.
Pool Corporation announced that its board has initiated a share repurchase plan on Wednesday, May 3rd that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the specialty retailer to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $1.48 dividend on an annualized basis and a yield of 1.52%. Pool Corporation’s payout ratio is 38.74%.
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Several research analysts recently commented on the company. BidaskClub upgraded Pool Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Zacks Investment Research upgraded Pool Corporation from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a research report on Friday, June 16th. Finally, Johnson Rice upgraded Pool Corporation from an “accumulate” rating to a “buy” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price 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).
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