Alliancebernstein L.P. Sells 24,458 Shares of Pool Corporation (POOL)
Alliancebernstein L.P. cut its holdings in shares of Pool Corporation (NASDAQ:POOL) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 281,055 shares of the specialty retailer’s stock after selling 24,458 shares during the period. Alliancebernstein L.P. owned approximately 0.68% of Pool Corporation worth $33,044,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. increased its position in shares of Pool Corporation by 12,429.3% during the first quarter. BlackRock Inc. now owns 3,260,758 shares of the specialty retailer’s stock worth $389,106,000 after acquiring an additional 3,234,733 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Pool Corporation by 4.2% during the first quarter. Vanguard Group Inc. now owns 3,172,624 shares of the specialty retailer’s stock worth $378,589,000 after acquiring an additional 126,641 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Pool Corporation by 8.1% during the first quarter. JPMorgan Chase & Co. now owns 1,991,051 shares of the specialty retailer’s stock worth $237,591,000 after acquiring an additional 149,808 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Pool Corporation by 11.0% during the second quarter. Eagle Asset Management Inc. now owns 1,125,341 shares of the specialty retailer’s stock worth $132,306,000 after acquiring an additional 111,250 shares in the last quarter. Finally, State Street Corp increased its position in shares of Pool Corporation by 1.4% during the first quarter. State Street Corp now owns 1,099,499 shares of the specialty retailer’s stock worth $131,204,000 after acquiring an additional 14,962 shares in the last quarter. 92.14% of the stock is owned by institutional investors.
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Several research firms have recently commented on POOL. Sidoti raised shares of Pool Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $119.00 to $131.00 in a research report on Friday. Zacks Investment Research raised shares of Pool Corporation from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a research report on Thursday, May 25th. BidaskClub downgraded shares of Pool Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Finally, Johnson Rice raised shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Pool Corporation presently has a consensus rating of “Buy” and a consensus price target of $127.00.
Shares of Pool Corporation (NASDAQ:POOL) opened at 107.10 on Tuesday. Pool Corporation has a 12 month low of $88.65 and a 12 month high of $124.26. The company has a market capitalization of $4.41 billion, a P/E ratio of 27.84 and a beta of 0.92. The firm has a 50-day moving average of $104.65 and a 200-day moving average of $115.22.
Pool Corporation (NASDAQ:POOL) last issued its quarterly 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 business had revenue of $988.16 million for the quarter. During the same period in the prior year, the business posted $1.98 earnings per share. Pool Corporation’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Pool Corporation will post $4.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were given a dividend of $0.37 per share. 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 1.38%. Pool Corporation’s dividend payout ratio (DPR) is currently 38.74%.
About Pool Corporation
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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