Sequoia Financial Advisors LLC Has $697,000 Position in Pool Corporation (NASDAQ:POOL)

Sequoia Financial Advisors LLC lowered its position in Pool Corporation (NASDAQ:POOL) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,188 shares of the specialty retailer’s stock after selling 92 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Pool were worth $697,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in POOL. Asset Management One Co. Ltd. raised its position in shares of Pool by 4.1% in the first quarter. Asset Management One Co. Ltd. now owns 31,428 shares of the specialty retailer’s stock valued at $9,981,000 after purchasing an additional 1,237 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Pool by 15.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 10,520 shares of the specialty retailer’s stock valued at $3,349,000 after purchasing an additional 1,386 shares during the period. Praxis Investment Management Inc. raised its position in shares of Pool by 77.9% in the first quarter. Praxis Investment Management Inc. now owns 1,690 shares of the specialty retailer’s stock valued at $538,000 after purchasing an additional 740 shares during the period. Covea Finance bought a new position in shares of Pool in the first quarter valued at about $1,910,000. Finally, Osborne Partners Capital Management LLC raised its position in shares of Pool by 2.1% in the first quarter. Osborne Partners Capital Management LLC now owns 33,455 shares of the specialty retailer’s stock valued at $10,650,000 after purchasing an additional 692 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Pool Price Performance

NASDAQ:POOL opened at $304.18 on Wednesday. Pool Corporation has a 52 week low of $282.22 and a 52 week high of $395.60. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 3.73 and a beta of 1.10. The firm’s 50-day simple moving average is $300.33 and its 200 day simple moving average is $322.55. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.53 and a current ratio of 1.79.

Pool (NASDAQ:POOL) last released its earnings results on Thursday, April 24th. The specialty retailer reported $1.32 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.10). Pool had a net margin of 7.77% and a return on equity of 30.11%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business earned $1.85 earnings per share. Pool’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts predict that Pool Corporation will post 11.32 earnings per share for the current year.

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

Pool Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $1.25 dividend. This is a positive change from Pool’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.64%. The ex-dividend date was Thursday, May 15th. Pool’s dividend payout ratio (DPR) is currently 46.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on POOL shares. Stephens dropped their price objective 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. Stifel Nicolaus set a $300.00 price objective on shares of Pool in a research report on Friday, April 25th. Robert W. Baird dropped their price objective 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pool in a research report on Tuesday, April 1st. They issued a “hold” rating and a $344.00 price objective on the stock. Finally, Oppenheimer lowered 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $342.00.

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.