Investment Management Corp of Ontario Lowers Stock Holdings in Pool Co. (NASDAQ:POOL)

Investment Management Corp of Ontario lessened its stake in Pool Co. (NASDAQ:POOL) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,036 shares of the specialty retailer’s stock after selling 200 shares during the period. Investment Management Corp of Ontario’s holdings in Pool were worth $353,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Pool by 816.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 40,860 shares of the specialty retailer’s stock valued at $13,601,000 after acquiring an additional 36,403 shares during the period. L. Roy Papp & Associates LLP acquired a new position in Pool in the 4th quarter valued at about $653,000. World Equity Group Inc. acquired a new position in Pool in the 4th quarter valued at about $272,000. Landscape Capital Management L.L.C. increased its position in Pool by 104.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 3,778 shares of the specialty retailer’s stock valued at $1,288,000 after acquiring an additional 1,926 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in Pool by 28.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 49,056 shares of the specialty retailer’s stock worth $16,725,000 after purchasing an additional 10,880 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

Pool Price Performance

Shares of NASDAQ:POOL opened at $313.84 on Wednesday. The business’s 50 day simple moving average is $312.91 and its 200-day simple moving average is $339.26. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.05 and a quick ratio of 0.77. Pool Co. has a 12 month low of $284.28 and a 12 month high of $395.60.

Pool (NASDAQ:POOL) last announced its quarterly earnings results on Thursday, April 24th. The specialty retailer reported $1.32 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.10). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Pool had a return on equity of 31.11% and a net margin of 8.18%. Pool’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. As a group, equities analysts forecast that Pool Co. will post 11.32 earnings per share for the current fiscal year.

Pool Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a $1.25 dividend. The ex-dividend date is Thursday, May 15th. This represents a $5.00 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Pool’s previous quarterly dividend of $1.20. Pool’s dividend payout ratio is presently 46.90%.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com cut Pool from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Stifel Nicolaus set a $300.00 target price on Pool in a research report on Friday, April 25th. Stephens dropped their target price on Pool from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Oppenheimer dropped their target price on Pool from $370.00 to $322.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Pool in a research report on Tuesday, April 1st. They set a “hold” rating and a $344.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $336.22.

Insider Activity at Pool

In related news, SVP Jennifer M. Neil sold 1,223 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 9,667 shares of the company’s stock, valued at approximately $3,045,105. This represents a 11.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 shares were sold at an average price of $346.00, for a total value of $3,460,000.00. Following the completion of the sale, the director now directly owns 62,577 shares in the company, valued at approximately $21,651,642. The trade was a 13.78% decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

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.