Logan Capital Management Inc. Lowers Stock Position in Pool Co. (NASDAQ:POOL)

Logan Capital Management Inc. lowered its holdings in shares of Pool Co. (NASDAQ:POOL) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,206 shares of the specialty retailer’s stock after selling 1,428 shares during the period. Logan Capital Management Inc. owned 0.06% of Pool worth $7,571,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Rakuten Securities Inc. grew its stake in shares of Pool by 2,300.0% in the 4th quarter. Rakuten Securities Inc. now owns 72 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Atala Financial Inc acquired a new stake in Pool in the fourth quarter valued at about $29,000. Sierra Ocean LLC acquired a new position in Pool during the 4th quarter worth approximately $30,000. FWL Investment Management LLC purchased a new position in shares of Pool during the 4th quarter worth approximately $39,000. Finally, Private Trust Co. NA lifted its holdings in shares of Pool by 76.9% in the 4th quarter. Private Trust Co. NA now owns 138 shares of the specialty retailer’s stock valued at $47,000 after buying an additional 60 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pool

In other news, Director De La Mesa Manuel J. Perez sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $346.00, for a total transaction of $3,460,000.00. Following the completion of the transaction, the director now directly owns 62,577 shares of the company’s stock, valued at approximately $21,651,642. This represents a 13.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jennifer M. Neil sold 1,223 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $315.00, for a total value 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. The trade was a 11.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on POOL shares. Stifel Nicolaus set a $300.00 price objective on Pool in a research report on Friday, April 25th. StockNews.com downgraded shares of Pool from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Pool in a research note on Tuesday, April 1st. They issued a “hold” rating and a $344.00 price objective for the company. Oppenheimer lowered their target price on Pool from $370.00 to $322.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Finally, Robert W. Baird cut their price target on Pool from $325.00 to $310.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $336.22.

Pool Stock Up 0.1%

Shares of NASDAQ POOL opened at $301.92 on Monday. The firm’s 50 day moving average price is $314.28 and its 200 day moving average price is $339.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 2.05. The firm has a market cap of $11.35 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. Pool Co. has a 1 year low of $284.28 and a 1 year high of $395.60.

Pool (NASDAQ:POOL) last released its 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 net margin of 8.18% and a return on equity of 31.11%. Pool’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 earnings per share. As a group, sell-side analysts anticipate that Pool Co. will post 11.32 earnings per share for the current year.

Pool declared that its Board of Directors has initiated a share buyback program on Wednesday, April 30th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the specialty retailer to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Pool Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a $1.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $5.00 annualized dividend and a dividend yield of 1.66%. This is a positive change from Pool’s previous quarterly dividend of $1.20. Pool’s dividend payout ratio is presently 46.90%.

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.