2,894 Shares in Pool Corporation (NASDAQ:POOL) Acquired by MFG Wealth Management Inc.

MFG Wealth Management Inc. bought a new position in Pool Corporation (NASDAQ:POOL) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,894 shares of the specialty retailer’s stock, valued at approximately $921,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Pool by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,443,451 shares of the specialty retailer’s stock valued at $1,514,950,000 after buying an additional 21,870 shares during the period. Wellington Management Group LLP raised its position in Pool by 27.5% in the fourth quarter. Wellington Management Group LLP now owns 1,042,514 shares of the specialty retailer’s stock worth $355,435,000 after acquiring an additional 224,674 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Pool by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 977,862 shares of the specialty retailer’s stock valued at $332,566,000 after acquiring an additional 13,519 shares during the last quarter. Invesco Ltd. boosted its position in shares of Pool by 6.2% during the 4th quarter. Invesco Ltd. now owns 763,817 shares of the specialty retailer’s stock valued at $260,416,000 after purchasing an additional 44,884 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Pool by 25.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 636,007 shares of the specialty retailer’s stock worth $216,840,000 after purchasing an additional 129,780 shares during the last quarter. 98.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Oppenheimer cut their target price on shares of Pool from $370.00 to $322.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Wall Street Zen lowered Pool from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Pool in a research report on Tuesday, April 1st. They issued a “hold” rating and a $344.00 price target for the company. Robert W. Baird dropped their price target on Pool from $325.00 to $310.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Finally, Stifel Nicolaus set a $300.00 price objective on Pool in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pool has a consensus rating of “Hold” and a consensus target price of $342.00.

Pool Trading Down 0.9%

Shares of NASDAQ POOL opened at $298.17 on Thursday. The company has a current ratio of 1.79, a quick ratio of 0.53 and a debt-to-equity ratio of 0.78. Pool Corporation has a one year low of $282.22 and a one year high of $395.60. The business has a 50-day moving average price of $300.99 and a two-hundred day moving average price of $325.03. The firm has a market capitalization of $11.21 billion, a PE ratio of 27.97, a PEG ratio of 3.84 and a beta of 1.12.

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

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.68%. This is a positive change from Pool’s previous quarterly dividend of $1.20. The ex-dividend date was Thursday, May 15th. Pool’s dividend payout ratio (DPR) is currently 46.90%.

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

Insider Activity at Pool

In related news, SVP Jennifer M. Neil sold 1,223 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $315.00, for a total transaction of $385,245.00. Following the transaction, the senior vice president now owns 9,667 shares of the company’s stock, valued at approximately $3,045,105. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.00% of the company’s stock.

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.