Forward Management LLC raised its position in Pool Corporation (NASDAQ:POOL) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,419 shares of the specialty retailer’s stock after buying an additional 161 shares during the period. Forward Management LLC’s holdings in Pool Corporation were worth $637,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. TrimTabs Asset Management LLC purchased a new stake in Pool Corporation during the first quarter worth about $124,000. FNY Partners Fund LP purchased a new stake in Pool Corporation during the first quarter worth about $126,000. Huntington National Bank boosted its stake in Pool Corporation by 27.9% in the second quarter. Huntington National Bank now owns 1,481 shares of the specialty retailer’s stock worth $174,000 after buying an additional 323 shares during the period. Daiwa Securities Group Inc. purchased a new stake in Pool Corporation during the second quarter worth about $188,000. Finally, FCG Advisors LLC purchased a new stake in Pool Corporation during the first quarter worth about $214,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.
Shares of Pool Corporation (NASDAQ POOL) opened at 105.88 on Friday. Pool Corporation has a 12-month low of $88.65 and a 12-month high of $124.26. The company has a market capitalization of $4.36 billion, a PE ratio of 27.52 and a beta of 0.91. The firm’s 50-day moving average is $113.93 and its 200-day moving average is $116.43.
Pool Corporation (NASDAQ:POOL) last released its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.24 by $0.03. The firm had revenue of $988.16 million for the quarter. Pool Corporation had a return on equity of 63.34% and a net margin of 6.15%. Pool Corporation’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 EPS. On average, equities research analysts anticipate that Pool Corporation will post $4.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. Pool Corporation’s dividend payout ratio is presently 38.74%.
Pool Corporation announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 3rd that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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A number of equities research analysts have issued reports on POOL shares. Zacks Investment Research upgraded shares of Pool Corporation from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a report on Tuesday, July 25th. Johnson Rice upgraded shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a report on Monday, July 24th. Finally, BidaskClub cut shares of Pool Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Five equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $125.67.
Pool Corporation Company Profile
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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