Kavar Capital Partners LLC bought a new stake in Pool Co. (NASDAQ:POOL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 224 shares of the specialty retailer’s stock, valued at approximately $43,000.
A number of other large investors have also recently modified their holdings of POOL. Geode Capital Management LLC raised its stake in Pool by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 404,749 shares of the specialty retailer’s stock valued at $60,165,000 after acquiring an additional 27,737 shares during the last quarter. State of Alaska Department of Revenue increased its position in Pool by 7.3% during the 1st quarter. State of Alaska Department of Revenue now owns 5,209 shares of the specialty retailer’s stock worth $859,000 after purchasing an additional 355 shares during the period. Nisa Investment Advisors LLC increased its position in Pool by 1.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,850 shares of the specialty retailer’s stock worth $2,945,000 after purchasing an additional 200 shares during the period. Conestoga Capital Advisors LLC increased its position in Pool by 0.6% during the 1st quarter. Conestoga Capital Advisors LLC now owns 31,249 shares of the specialty retailer’s stock worth $5,155,000 after purchasing an additional 196 shares during the period. Finally, Advisor Partners LLC acquired a new position in Pool during the 1st quarter worth approximately $208,000. 94.37% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Robert C. Sledd sold 8,696 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $199.09, for a total value of $1,731,286.64. Following the sale, the director now owns 26,837 shares of the company’s stock, valued at approximately $5,342,978.33. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark W. Joslin sold 1,429 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $200.00, for a total value of $285,800.00. Following the completion of the sale, the chief financial officer now directly owns 140,356 shares in the company, valued at approximately $28,071,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,784 shares of company stock worth $10,331,573. 6.00% of the stock is owned by corporate insiders.
Pool (NASDAQ:POOL) last posted its earnings results on Thursday, July 18th. The specialty retailer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.01. Pool had a return on equity of 82.89% and a net margin of 8.14%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $2.80 EPS. Pool’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that Pool Co. will post 5.81 earnings per share for the current fiscal year.
Pool announced that its board has initiated a share repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, August 14th. Pool’s payout ratio is currently 39.15%.
Several research firms have issued reports on POOL. Stephens set a $186.00 target price on Pool and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. BidaskClub upgraded Pool from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Zacks Investment Research upgraded Pool from a “sell” rating to a “hold” rating and set a $209.00 target price on the stock in a research report on Monday, August 12th. Finally, Robert W. Baird set a $192.00 target price on Pool and gave the stock a “buy” rating in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $183.00.
Pool Corp. engages in the wholesale distribution of swimming pool supplies, equipment and related leisure products. It also provides irrigation and landscape products. The company was founded in 1993 and is headquartered in Covington, LA.
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