Russell Investments Group Ltd. Acquires 10,007 Shares of Pool Corporation (POOL)
Russell Investments Group Ltd. raised its stake in shares of Pool Corporation (NASDAQ:POOL) by 14.8% during the second quarter, Holdings Channel reports. The fund owned 77,477 shares of the specialty retailer’s stock after buying an additional 10,007 shares during the period. Russell Investments Group Ltd.’s holdings in Pool Corporation were worth $9,109,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Pool Corporation by 12,429.3% in the first quarter. BlackRock Inc. now owns 3,260,758 shares of the specialty retailer’s stock valued at $389,106,000 after buying an additional 3,234,733 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Pool Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,172,624 shares of the specialty retailer’s stock valued at $378,589,000 after buying an additional 126,641 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Pool Corporation by 8.1% in the first quarter. JPMorgan Chase & Co. now owns 1,991,051 shares of the specialty retailer’s stock valued at $237,591,000 after buying an additional 149,808 shares during the period. State Street Corp increased its stake in shares of Pool Corporation by 1.4% in the first quarter. State Street Corp now owns 1,099,499 shares of the specialty retailer’s stock valued at $131,204,000 after buying an additional 14,962 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in shares of Pool Corporation by 30.8% in the first quarter. Eagle Asset Management Inc. now owns 1,014,091 shares of the specialty retailer’s stock valued at $121,011,000 after buying an additional 239,013 shares during the period. Hedge funds and other institutional investors own 92.85% of the company’s stock.
Shares of Pool Corporation (NASDAQ POOL) traded up 1.10% on Wednesday, hitting $108.39. 147,074 shares of the stock traded hands. Pool Corporation has a one year low of $88.64 and a one year high of $124.25. The company has a market cap of $4.47 billion, a PE ratio of 28.18 and a beta of 0.91. The stock has a 50 day moving average of $112.76 and a 200 day moving average of $116.63.
Pool Corporation (NASDAQ:POOL) last released its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $2.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.24 by $0.03. The firm had revenue of $988.16 million for the quarter. Pool Corporation had a net margin of 6.15% and a return on equity of 63.34%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. Equities analysts anticipate that Pool Corporation will post $4.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.38%. The ex-dividend date is Monday, August 7th. Pool Corporation’s payout ratio is 38.74%.
Pool Corporation declared that its board has initiated a stock buyback plan on Wednesday, May 3rd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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POOL has been the subject of a number of research analyst reports. BidaskClub raised shares of Pool Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 16th. Zacks Investment Research raised shares of Pool Corporation from a “hold” rating to a “buy” rating and set a $137.00 target price for the company in a research report on Friday, June 16th. Finally, Johnson Rice raised shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a research report on Monday, July 24th. Five research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $125.67.
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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