Pool Corporation $POOL Stock: Conestoga Capital Advisors LLC Lowers Stake

Conestoga Capital Advisors LLC cut its stake in Pool Corporation (NASDAQ:POOL) by 9.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,144 shares of the specialty retailer’s stock after selling 8,888 shares during the period. Conestoga Capital Advisors LLC’s holdings in Pool were worth $13,135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of POOL. IFP Advisors Inc raised its holdings in shares of Pool by 117.9% in the 2nd quarter. IFP Advisors Inc now owns 122 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 66 shares during the period. Elevation Wealth Partners LLC raised its holdings in shares of Pool by 2,660.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 138 shares of the specialty retailer’s stock worth $30,000 after buying an additional 133 shares in the last quarter. Putney Financial Group LLC acquired a new stake in Pool in the third quarter valued at approximately $25,000. CoreCap Advisors LLC increased its stake in shares of Pool by 214.3% in the second quarter. CoreCap Advisors LLC now owns 154 shares of the specialty retailer’s stock valued at $33,000 after buying an additional 105 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Pool during the 2nd quarter worth about $47,000. Institutional investors own 98.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on POOL. DA Davidson reduced their price objective on shares of Pool from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, October 23rd. Bank of America reduced their target price on shares of Pool from $226.00 to $206.00 and set an “underperform” rating for the company in a research note on Monday, July 20th. Stifel Nicolaus dropped their price target on Pool from $189.00 to $175.00 and set a “hold” rating for the company in a research report on Tuesday, October 20th. Oppenheimer decreased their target price on shares of Pool from $280.00 to $227.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of Pool from $165.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, October 23rd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $227.70.

Trending Headlines about Pool

Here are the key news stories impacting Pool this week:

• Neutral Sentiment: Pool Corporation said it will participate in the Baird Global Industrial Conference on November 10 and the Stephens Annual Investment Conference on November 17. The announcement offers investors opportunities to hear from management but included no new financial guidance or business update. Pool Corporation Announces Upcoming Investor Conference Participation

Pool Price Performance

NASDAQ POOL opened at $219.26 on Thursday. Pool Corporation has a 12 month low of $152.70 and a 12 month high of $278.17. The company’s 50 day moving average is $176.48 and its two-hundred day moving average is $202.15. The company has a current ratio of 2.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.93. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.15 and a beta of 0.93.

Pool (NASDAQ:POOL) last issued its earnings results on Thursday, October 22nd. The specialty retailer reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.36 by $0.04. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Pool had a net margin of 7.27% and a return on equity of 33.50%. Pool’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.39 earnings per share. As a group, research analysts anticipate that Pool Corporation will post 10.95 earnings per share for the current year.

Pool Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 11th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, November 10th. Pool’s payout ratio is 47.84%.

Pool Company Profile

Pool Corporation, doing business as POOLCORP, is a wholesale distributor of swimming pool and outdoor living products. The company supplies pool contractors, retailers, builders, and service professionals with products used to construct, renovate, maintain, and enhance residential and commercial pools.

Its product offerings include swimming pool equipment, pumps, filters, heaters, cleaners, lighting, chemicals, replacement parts, and maintenance supplies. POOLCORP also distributes products for outdoor living, including patio and recreational items, as well as irrigation and landscape-related supplies in selected markets.

Founded in 1993 and headquartered in Covington, Louisiana, POOLCORP serves customers through a network of distribution centers and sales operations in the United States, Canada, Europe, and Australia.