Pool Co. (NASDAQ:POOL) Position Reduced by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC decreased its position in shares of Pool Co. (NASDAQ:POOL) by 12.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 922 shares of the specialty retailer’s stock after selling 126 shares during the period. Tritonpoint Wealth LLC’s holdings in Pool were worth $294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Pool by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 4,443,451 shares of the specialty retailer’s stock worth $1,514,950,000 after purchasing an additional 21,870 shares in the last quarter. Wellington Management Group LLP grew its position in Pool by 27.5% in the fourth quarter. Wellington Management Group LLP now owns 1,042,514 shares of the specialty retailer’s stock worth $355,435,000 after buying an additional 224,674 shares during the last quarter. Geode Capital Management LLC grew its position in Pool by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 977,862 shares of the specialty retailer’s stock worth $332,566,000 after buying an additional 13,519 shares during the last quarter. Invesco Ltd. grew its position in Pool by 6.2% in the fourth quarter. Invesco Ltd. now owns 763,817 shares of the specialty retailer’s stock worth $260,416,000 after buying an additional 44,884 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Pool by 25.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 636,007 shares of the specialty retailer’s stock worth $216,840,000 after buying an additional 129,780 shares during the last quarter. Institutional investors own 98.99% of the company’s stock.

Pool Trading Down 2.3%

NASDAQ POOL opened at $288.90 on Friday. Pool Co. has a twelve month low of $284.28 and a twelve month high of $395.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 2.05. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 2.03 and a beta of 1.12. The firm’s 50 day moving average price is $303.53 and its two-hundred day moving average price is $329.37.

Pool (NASDAQ:POOL) last posted its quarterly earnings data on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.10). Pool had a return on equity of 31.11% and a net margin of 8.18%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the firm posted $1.85 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities analysts anticipate that Pool Co. will post 11.32 EPS for the current year.

Pool declared that its board has approved a stock repurchase plan on Wednesday, April 30th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Pool Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $1.25 per share. This is a boost from Pool’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Thursday, May 15th. Pool’s payout ratio is currently 46.90%.

Insider Activity

In other news, SVP Jennifer M. Neil sold 1,223 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $315.00, for a total transaction of $385,245.00. Following the transaction, the senior vice president now directly owns 9,667 shares in the company, valued at $3,045,105. The trade was a 11.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on POOL shares. Wells Fargo & Company set a $300.00 price target on shares of Pool in a research report on Friday, April 25th. Stephens decreased their price target on shares of Pool from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Pool in a research report on Tuesday, April 1st. They issued a “hold” rating and a $344.00 price target on the stock. Robert W. Baird decreased their price target on shares of Pool from $325.00 to $310.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Finally, Oppenheimer decreased their price target on shares of Pool from $370.00 to $322.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $336.22.

About Pool

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.