World Asset Management Inc raised its stake in shares of Pool Corporation (NASDAQ:POOL) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,967 shares of the specialty retailer’s stock after buying an additional 74 shares during the period. World Asset Management Inc’s holdings in Pool Corporation were worth $349,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. McQueen Ball & Associates Inc. raised its stake in Pool Corporation by 0.3% in the second quarter. McQueen Ball & Associates Inc. now owns 15,303 shares of the specialty retailer’s stock valued at $1,799,000 after buying an additional 47 shares in the last quarter. State Treasurer State of Michigan raised its stake in Pool Corporation by 0.6% in the first quarter. State Treasurer State of Michigan now owns 16,700 shares of the specialty retailer’s stock valued at $1,993,000 after buying an additional 100 shares in the last quarter. Atria Investments LLC raised its stake in Pool Corporation by 5.3% in the second quarter. Atria Investments LLC now owns 2,743 shares of the specialty retailer’s stock valued at $322,000 after buying an additional 138 shares in the last quarter. Mason Street Advisors LLC raised its stake in Pool Corporation by 0.8% in the first quarter. Mason Street Advisors LLC now owns 19,443 shares of the specialty retailer’s stock valued at $2,320,000 after buying an additional 149 shares in the last quarter. Finally, Advantus Capital Management Inc raised its stake in Pool Corporation by 3.4% in the first quarter. Advantus Capital Management Inc now owns 5,269 shares of the specialty retailer’s stock valued at $629,000 after buying an additional 174 shares in the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.
Shares of Pool Corporation (POOL) opened at 108.53 on Monday. Pool Corporation has a 12-month low of $88.64 and a 12-month high of $124.25. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 28.21 and a beta of 0.91. The stock has a 50 day moving average of $113.60 and a 200 day moving average of $116.46.
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 analysts’ consensus estimates of $2.24 by $0.03. Pool Corporation had a return on equity of 63.34% and a net margin of 6.15%. The company had revenue of $988.16 million for the quarter. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts forecast 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. The ex-dividend date of this dividend is Monday, August 7th. This represents a $1.48 dividend on an annualized basis and a yield of 1.36%. Pool Corporation’s payout ratio is currently 38.74%.
Pool Corporation declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 3rd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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Several equities research analysts have recently commented on the stock. 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. BidaskClub upgraded shares of Pool Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Finally, Johnson Rice upgraded shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a report on Monday, July 24th. Five analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target 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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