Axxcess Wealth Management LLC cut its stake in Pool Co. (NASDAQ:POOL – Get Rating) by 20.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,351 shares of the specialty retailer’s stock after selling 351 shares during the period. Axxcess Wealth Management LLC’s holdings in Pool were worth $474,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. increased its holdings in Pool by 143.8% in the second quarter. TCI Wealth Advisors Inc. now owns 78 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 46 shares in the last quarter. Curi Wealth Management LLC grew its position in shares of Pool by 142.9% in the first quarter. Curi Wealth Management LLC now owns 85 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. Huntington National Bank grew its position in shares of Pool by 203.4% in the first quarter. Huntington National Bank now owns 88 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 59 shares during the last quarter. Harding Loevner LP acquired a new stake in shares of Pool in the first quarter valued at approximately $41,000. Finally, Fieldpoint Private Securities LLC grew its position in shares of Pool by 70.0% in the second quarter. Fieldpoint Private Securities LLC now owns 136 shares of the specialty retailer’s stock valued at $48,000 after purchasing an additional 56 shares during the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Pool from $431.00 to $368.00 and set a “hold” rating on the stock in a research report on Thursday, October 20th. Robert W. Baird lowered their price target on shares of Pool from $398.00 to $368.00 and set a “neutral” rating on the stock in a research report on Friday, October 21st. Stifel Nicolaus lowered their price target on shares of Pool from $415.00 to $355.00 in a research report on Tuesday, October 18th. StockNews.com lowered shares of Pool from a “hold” rating to a “sell” rating in a research report on Wednesday, November 9th. Finally, Stephens decreased their target price on shares of Pool from $400.00 to $340.00 in a research report on Wednesday, October 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $397.50.
Pool Stock Up 1.8 %
Pool (NASDAQ:POOL – Get Rating) last announced its quarterly earnings results on Thursday, October 20th. The specialty retailer reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $4.65 by $0.13. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.60 billion. Pool had a net margin of 12.81% and a return on equity of 65.81%. Pool’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the business earned $4.51 EPS. Analysts forecast that Pool Co. will post 18.71 earnings per share for the current year.
Pool Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Thursday, November 10th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.20%. Pool’s dividend payout ratio (DPR) is presently 20.54%.
Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; fiberglass pools, and hot tubs and packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and related products consisting of irrigation system components, and professional lawn care equipment and supplies.
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