Alliancebernstein L.P. cut its position in shares of Pool Co. (NASDAQ:POOL) by 3.2% in the third quarter, Holdings Channel reports. The institutional investor owned 339,172 shares of the specialty retailer’s stock after selling 11,183 shares during the period. Alliancebernstein L.P.’s holdings in Pool were worth $147,340,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. grew its stake in Pool by 0.5% in the third quarter. BlackRock Inc. now owns 4,461,719 shares of the specialty retailer’s stock valued at $1,938,217,000 after purchasing an additional 21,590 shares in the last quarter. State Street Corp grew its stake in Pool by 2.2% in the second quarter. State Street Corp now owns 1,648,393 shares of the specialty retailer’s stock valued at $756,052,000 after purchasing an additional 35,521 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Pool by 10.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,158,922 shares of the specialty retailer’s stock valued at $531,553,000 after purchasing an additional 105,299 shares in the last quarter. Geode Capital Management LLC grew its stake in Pool by 0.7% in the second quarter. Geode Capital Management LLC now owns 772,221 shares of the specialty retailer’s stock valued at $353,309,000 after purchasing an additional 5,727 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Pool by 5.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 671,555 shares of the specialty retailer’s stock valued at $308,015,000 after purchasing an additional 32,891 shares in the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.
A number of research analysts have weighed in on the company. KeyCorp raised their price target on Pool from $500.00 to $570.00 and gave the company an “overweight” rating in a research note on Friday, October 22nd. Stephens raised their price objective on Pool from $505.00 to $570.00 and gave the company an “equal weight” rating in a research report on Monday, October 25th. Zacks Investment Research cut Pool from a “buy” rating to a “hold” rating and set a $594.00 price objective for the company. in a research report on Monday, January 3rd. Jefferies Financial Group reaffirmed a “hold” rating and issued a $550.00 price objective on shares of Pool in a research report on Thursday, December 30th. Finally, Loop Capital raised their price objective on Pool from $485.00 to $540.00 and gave the company a “hold” rating in a research report on Friday, October 22nd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $555.57.
Pool (NASDAQ:POOL) last released its quarterly earnings results on Wednesday, October 20th. The specialty retailer reported $4.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.87 by $0.64. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Pool had a return on equity of 76.16% and a net margin of 11.81%. The firm’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period last year, the firm posted $2.71 EPS. As a group, sell-side analysts forecast that Pool Co. will post 15.17 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 24th. Investors of record on Thursday, November 11th were issued a dividend of $0.80 per share. The ex-dividend date was Tuesday, November 9th. This represents a $3.20 annualized dividend and a yield of 0.65%. Pool’s payout ratio is currently 21.65%.
In other Pool news, Vice Chairman De La Mesa Manuel J. Perez sold 9,067 shares of Pool stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $575.09, for a total value of $5,214,341.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman De La Mesa Manuel J. Perez sold 743 shares of Pool stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $577.43, for a total value of $429,030.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,088 shares of company stock valued at $29,394,064. 4.00% of the stock is currently owned by insiders.
Pool Corp. engages in the wholesale distribution of swimming pool supplies, equipment and related leisure products. It also offers non-discretionary pool maintenance products such as chemicals and replacement parts; discretionary products like packaged pool kits, whole goods, irrigation, and landscape products, including a complete line of commercial and residential irrigation products and parts, power equipment for the professional landscape market; specialty products such as outdoor lighting, grills, and outdoor kitchen components; and golf irrigation and water management products.
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