Picton Mahoney Asset Management Cuts Stake in Pool Co. (NASDAQ:POOL)

Picton Mahoney Asset Management decreased its holdings in Pool Co. (NASDAQ:POOL) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,035 shares of the specialty retailer’s stock after selling 150 shares during the period. Picton Mahoney Asset Management’s holdings in Pool were worth $2,407,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in POOL. JPMorgan Chase & Co. increased its stake in Pool by 56.7% during the third quarter. JPMorgan Chase & Co. now owns 865,362 shares of the specialty retailer’s stock valued at $308,156,000 after purchasing an additional 313,190 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Pool by 463.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 240,623 shares of the specialty retailer’s stock valued at $85,686,000 after purchasing an additional 197,900 shares during the last quarter. International Assets Investment Management LLC boosted its position in Pool by 30,047.2% during the fourth quarter. International Assets Investment Management LLC now owns 183,898 shares of the specialty retailer’s stock valued at $73,322,000 after purchasing an additional 183,288 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Pool by 55.0% during the third quarter. Envestnet Asset Management Inc. now owns 339,378 shares of the specialty retailer’s stock valued at $120,852,000 after purchasing an additional 120,427 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Pool by 22.0% during the third quarter. Invesco Ltd. now owns 634,329 shares of the specialty retailer’s stock valued at $225,885,000 after purchasing an additional 114,298 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on POOL shares. Stifel Nicolaus reduced their price target on Pool from $370.00 to $360.00 and set a “hold” rating for the company in a research report on Monday, April 29th. TheStreet downgraded shares of Pool from a “b” rating to a “c+” rating in a research note on Thursday, February 22nd. Finally, Oppenheimer cut their price target on Pool from $436.00 to $416.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pool currently has a consensus rating of “Hold” and an average price target of $391.80.

Pool Stock Performance

POOL stock traded down $6.86 during trading hours on Wednesday, hitting $365.82. 272,091 shares of the stock were exchanged, compared to its average volume of 335,594. The firm has a market capitalization of $14.02 billion, a P/E ratio of 28.62, a P/E/G ratio of 3.80 and a beta of 1.01. Pool Co. has a 12 month low of $307.77 and a 12 month high of $422.73. The company has a current ratio of 1.88, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $389.33 and a two-hundred day simple moving average of $375.31.

Pool (NASDAQ:POOL) last released its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.02). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Pool had a net margin of 9.17% and a return on equity of 35.49%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $2.46 earnings per share. On average, analysts forecast that Pool Co. will post 13.02 earnings per share for the current fiscal year.

Pool Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Pool’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, May 15th. Pool’s dividend payout ratio (DPR) is presently 34.43%.

Insider Transactions at Pool

In other news, General Counsel Jennifer M. Neil sold 1,100 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $401.00, for a total transaction of $441,100.00. Following the completion of the transaction, the general counsel now directly owns 8,622 shares in the company, valued at $3,457,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Pool Profile

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; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.