Conestoga Capital Advisors LLC raised its position in Pool Corporation (NASDAQ:POOL) by 199.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,713 shares of the specialty retailer’s stock after acquiring an additional 15,138 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.06% of Pool Corporation worth $2,457,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in POOL. Northwestern Mutual Wealth Management Co. boosted its stake in Pool Corporation by 1,198.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the specialty retailer’s stock valued at $134,000 after acquiring an additional 1,055 shares in the last quarter. 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 valued at $174,000 after acquiring an additional 323 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Pool Corporation in the second quarter valued at approximately $188,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pool Corporation by 13.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,606 shares of the specialty retailer’s stock valued at $189,000 after acquiring an additional 185 shares in the last quarter. Finally, FCG Advisors LLC boosted its stake in Pool Corporation by 0.3% in the second quarter. FCG Advisors LLC now owns 1,797 shares of the specialty retailer’s stock valued at $211,000 after acquiring an additional 6 shares in the last quarter. Institutional investors own 92.20% of the company’s stock.
Pool Corporation (NASDAQ:POOL) last issued its earnings results on Thursday, October 19th. The specialty retailer reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. Pool Corporation had a net margin of 6.19% and a return on equity of 69.28%. The business had revenue of $743.40 million during the quarter. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s quarterly revenue was up 7.5% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Wednesday, November 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, November 14th. Pool Corporation’s payout ratio is 37.47%.
POOL has been the subject of several recent analyst reports. BidaskClub downgraded shares of Pool Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Johnson Rice upgraded shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of Pool Corporation from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research note on Tuesday, July 25th. Sidoti upgraded shares of Pool Corporation from a “neutral” rating to a “buy” rating and raised their target price for the company from $119.00 to $131.00 in a research note on Friday, September 15th. Finally, Robert W. Baird raised their target price on shares of Pool Corporation from $125.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $127.25.
In other news, CEO De La Mesa Manuel J. Perez sold 47,628 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $120.73, for a total value of $5,750,128.44. Following the completion of the transaction, the chief executive officer now owns 61,708 shares in the company, valued at approximately $7,450,006.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Harlan F. Seymour sold 15,502 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $118.87, for a total transaction of $1,842,722.74. Following the completion of the transaction, the director now owns 15,995 shares of the company’s stock, valued at approximately $1,901,325.65. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
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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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