STA Wealth Management LLC purchased a new stake in shares of Pool Co. (NASDAQ:POOL) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,467 shares of the specialty retailer’s stock, valued at approximately $653,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in POOL. Carillon Tower Advisers Inc. purchased a new stake in Pool during the fourth quarter valued at about $93,632,000. Wasatch Advisors Inc. raised its position in Pool by 24.4% during the first quarter. Wasatch Advisors Inc. now owns 599,136 shares of the specialty retailer’s stock valued at $87,606,000 after purchasing an additional 117,441 shares in the last quarter. Wells Fargo & Company MN raised its position in Pool by 30.7% during the fourth quarter. Wells Fargo & Company MN now owns 461,963 shares of the specialty retailer’s stock valued at $59,894,000 after purchasing an additional 108,477 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Pool by 6.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,432,217 shares of the specialty retailer’s stock valued at $209,420,000 after purchasing an additional 90,278 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Pool by 3.1% during the first quarter. JPMorgan Chase & Co. now owns 2,116,081 shares of the specialty retailer’s stock valued at $309,412,000 after purchasing an additional 63,095 shares in the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.
Shares of Pool opened at $149.28 on Thursday, Marketbeat.com reports. Pool Co. has a 12-month low of $97.25 and a 12-month high of $151.47. The stock has a market cap of $6.05 billion, a PE ratio of 37.41 and a beta of 0.81. The company has a current ratio of 1.97, a quick ratio of 0.65 and a debt-to-equity ratio of 2.19.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Friday, May 18th were paid a $0.45 dividend. The ex-dividend date was Thursday, May 17th. This is a boost from Pool’s previous quarterly dividend of $0.37. This represents a $1.80 annualized dividend and a dividend yield of 1.21%. Pool’s dividend payout ratio (DPR) is presently 45.11%.
Pool announced that its board has initiated a stock buyback program on Thursday, May 3rd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
POOL has been the topic of a number of recent research reports. Robert W. Baird reaffirmed a “buy” rating and set a $158.00 price objective on shares of Pool in a research note on Friday, February 16th. Stephens set a $160.00 price objective on Pool and gave the company a “hold” rating in a research note on Thursday, February 15th. Zacks Investment Research raised Pool from a “hold” rating to a “buy” rating and set a $161.00 price objective on the stock in a research note on Thursday, February 22nd. BidaskClub raised Pool from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 30th. Finally, ValuEngine raised Pool from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Pool has a consensus rating of “Buy” and an average target price of $153.25.
In related news, Director John E. Stokely sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $148.44, for a total value of $1,484,400.00. Following the sale, the director now directly owns 30,495 shares of the company’s stock, valued at $4,526,677.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hart Melanie Housey sold 3,500 shares of the firm’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $147.95, for a total value of $517,825.00. Following the completion of the sale, the insider now directly owns 12,215 shares in the company, valued at $1,807,209.25. The disclosure for this sale can be found here. Insiders sold 32,512 shares of company stock worth $4,776,350 over the last three months. 6.00% of the stock is owned by insiders.
Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in North America, Europe, South America, and Australia. 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; packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and landscape products consisting of irrigation system components, and professional lawn care equipment and supplies.
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