Jennison Associates LLC Reduces Position in Hayward Holdings, Inc. (NYSE:HAYW)

Jennison Associates LLC lessened its position in shares of Hayward Holdings, Inc. (NYSE:HAYW) by 11.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,044,191 shares of the company’s stock after selling 519,973 shares during the quarter. Jennison Associates LLC’s holdings in Hayward were worth $55,001,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. purchased a new position in Hayward during the 4th quarter worth approximately $173,000. Louisiana State Employees Retirement System purchased a new position in shares of Hayward in the 4th quarter valued at approximately $858,000. WCM Investment Management LLC grew its stake in shares of Hayward by 11.2% in the 4th quarter. WCM Investment Management LLC now owns 2,129,882 shares of the company’s stock valued at $29,179,000 after purchasing an additional 214,991 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Hayward by 40.4% in the 4th quarter. New York State Teachers Retirement System now owns 44,356 shares of the company’s stock valued at $603,000 after purchasing an additional 12,767 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Hayward in the 4th quarter valued at approximately $37,000.

Analyst Upgrades and Downgrades

HAYW has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Hayward from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Jefferies Financial Group downgraded Hayward from a “buy” rating to a “hold” rating and lowered their target price for the company from $15.00 to $14.00 in a research note on Thursday, January 11th. TheStreet upgraded Hayward from a “d+” rating to a “c-” rating in a research note on Monday, January 22nd. Finally, Stifel Nicolaus lifted their target price on Hayward from $13.50 to $14.50 and gave the company a “hold” rating in a research note on Tuesday, March 5th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.70.

Insider Activity

In related news, CEO Kevin Holleran sold 42,857 shares of Hayward stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $13.34, for a total transaction of $571,712.38. Following the completion of the transaction, the chief executive officer now directly owns 522,799 shares of the company’s stock, valued at $6,974,138.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Hayward Stock Up 2.0 %

HAYW opened at $13.71 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.02 and a quick ratio of 2.13. The business has a 50 day simple moving average of $14.05 and a 200-day simple moving average of $12.98. The stock has a market capitalization of $2.94 billion, a P/E ratio of 38.07 and a beta of 1.22. Hayward Holdings, Inc. has a 12 month low of $9.80 and a 12 month high of $16.04.

Hayward (NYSE:HAYW) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $278.50 million during the quarter, compared to analysts’ expectations of $271.47 million. Hayward had a return on equity of 9.55% and a net margin of 8.13%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. On average, equities analysts anticipate that Hayward Holdings, Inc. will post 0.57 earnings per share for the current fiscal year.

About Hayward

Hayward Holdings, Inc designs, manufactures, and markets a portfolio of pool equipment and associated automation systems in North America, Europe, and internationally. The company offers pool equipment, including pumps, filters, robotics, suction and pressure cleaners, gas heaters and heat pumps, water features and landscape lighting, water sanitizers, salt chlorine generators, safety equipment, and in-floor automated cleaning systems, as well as LED illumination solutions.