Pool Corporation (NASDAQ:POOL) Position Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Pool Corporation (NASDAQ:POOL) by 0.9% in the 1st quarter, Holdings Channel reports. The fund owned 85,978 shares of the specialty retailer’s stock after selling 782 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Pool were worth $27,371,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of POOL. AdvisorNet Financial Inc boosted its stake in Pool by 7.8% during the 1st quarter. AdvisorNet Financial Inc now owns 468 shares of the specialty retailer’s stock valued at $149,000 after purchasing an additional 34 shares during the period. Second Line Capital LLC boosted its position in shares of Pool by 4.1% during the fourth quarter. Second Line Capital LLC now owns 888 shares of the specialty retailer’s stock worth $303,000 after buying an additional 35 shares during the period. Tidal Investments LLC boosted its position in shares of Pool by 0.5% during the fourth quarter. Tidal Investments LLC now owns 6,696 shares of the specialty retailer’s stock worth $2,283,000 after buying an additional 35 shares during the period. PUREfi Wealth LLC grew its holdings in Pool by 5.2% in the 1st quarter. PUREfi Wealth LLC now owns 773 shares of the specialty retailer’s stock worth $246,000 after buying an additional 38 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Pool by 20.3% in the 1st quarter. Blue Trust Inc. now owns 225 shares of the specialty retailer’s stock valued at $72,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Pool Trading Down 0.5%

Shares of NASDAQ:POOL opened at $302.67 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.53 and a current ratio of 1.79. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 3.89 and a beta of 1.10. Pool Corporation has a 1-year low of $282.22 and a 1-year high of $395.60. The company has a 50 day moving average price of $300.19 and a 200 day moving average price of $322.42.

Pool (NASDAQ:POOL) last released 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). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. Pool had a return on equity of 30.11% and a net margin of 7.77%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.85 earnings per share. On average, research analysts anticipate that Pool Corporation will post 11.32 EPS for the current fiscal year.

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, May 15th. This is a positive change from Pool’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.65%. Pool’s dividend payout ratio is currently 46.90%.

Pool announced that its board has initiated a share buyback plan on Wednesday, April 30th that permits the company to buyback $600.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on POOL shares. Stephens reduced their price target on Pool from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Oppenheimer lowered their target price on shares of Pool from $370.00 to $322.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Pool in a research report on Tuesday, April 1st. They set a “hold” rating and a $344.00 price target on the stock. Stifel Nicolaus set a $300.00 price objective on shares of Pool in a report on Friday, April 25th. Finally, Robert W. Baird lowered their price objective on shares of Pool from $325.00 to $310.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $342.00.

Pool Company 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.