Cypress Capital Group bought a new position in Pool Co. (NASDAQ:POOL) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,955 shares of the specialty retailer’s stock, valued at approximately $675,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in POOL. Norges Bank bought a new position in Pool in the 4th quarter worth $129,833,000. Select Equity Group L.P. raised its holdings in Pool by 37.1% in the 4th quarter. Select Equity Group L.P. now owns 887,217 shares of the specialty retailer’s stock worth $330,488,000 after acquiring an additional 239,926 shares during the period. BlackRock Inc. raised its holdings in Pool by 3.5% in the 4th quarter. BlackRock Inc. now owns 3,917,702 shares of the specialty retailer’s stock worth $1,459,345,000 after acquiring an additional 133,509 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Pool by 3,322.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 132,510 shares of the specialty retailer’s stock worth $49,360,000 after purchasing an additional 128,638 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Pool by 26.2% during the 4th quarter. Northern Trust Corp now owns 478,769 shares of the specialty retailer’s stock worth $178,342,000 after purchasing an additional 99,424 shares during the period. Hedge funds and other institutional investors own 90.62% of the company’s stock.
Several research analysts have recently issued reports on POOL shares. Zacks Investment Research downgraded shares of Pool from a “buy” rating to a “hold” rating and set a $362.00 price objective on the stock. in a report on Wednesday, March 17th. Jefferies Financial Group boosted their price objective on shares of Pool from $350.00 to $400.00 and gave the stock a “hold” rating in a report on Friday, January 15th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $306.67.
Pool (NASDAQ:POOL) last issued its earnings results on Wednesday, February 10th. The specialty retailer reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.68. Pool had a net margin of 8.85% and a return on equity of 70.48%. The firm had revenue of $839.26 million during the quarter, compared to the consensus estimate of $709.02 million. On average, equities analysts forecast that Pool Co. will post 8.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Thursday, March 11th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Wednesday, March 10th. Pool’s dividend payout ratio is 39.79%.
In related news, CEO Peter D. Arvan acquired 500 shares of the stock in a transaction dated Friday, March 5th. The stock was bought at an average price of $316.03 per share, with a total value of $158,015.00. Following the completion of the transaction, the chief executive officer now directly owns 59,683 shares of the company’s stock, valued at $18,861,618.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% 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; fiberglass pools, and hot tubs and 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 related products consisting of irrigation system components, and professional lawn care equipment and supplies.
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