Pool Corporation (NASDAQ:POOL) issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $2.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.24 by $0.03, Morningstar.com reports. The company had revenue of $988.16 million for the quarter. Pool Corporation had a return on equity of 63.34% and a net margin of 6.15%. Pool Corporation’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.98 earnings per share. Pool Corporation updated its FY17 guidance to $4.12-4.32 EPS.
Pool Corporation (NASDAQ:POOL) traded up 1.18% during midday trading on Wednesday, hitting $108.47. The company had a trading volume of 334,443 shares. The firm’s 50 day moving average is $112.76 and its 200-day moving average is $116.63. Pool Corporation has a 52 week low of $88.64 and a 52 week high of $124.25. The firm has a market capitalization of $4.47 billion, a P/E ratio of 28.20 and a beta of 0.91.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Monday, August 7th. Pool Corporation’s dividend payout ratio (DPR) is 38.74%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Pool Corporation by 89.1% in the fourth quarter. AQR Capital Management LLC now owns 8,395 shares of the specialty retailer’s stock valued at $876,000 after buying an additional 3,955 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Pool Corporation by 7.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,090 shares of the specialty retailer’s stock valued at $740,000 after buying an additional 490 shares during the period. Norges Bank bought a new position in shares of Pool Corporation during the fourth quarter valued at about $36,100,000. Teachers Advisors LLC raised its position in shares of Pool Corporation by 15.0% in the fourth quarter. Teachers Advisors LLC now owns 203,713 shares of the specialty retailer’s stock valued at $21,255,000 after buying an additional 26,500 shares during the period. Finally, McQueen Ball & Associates Inc. raised its stake in Pool Corporation by 0.3% in the first quarter. McQueen Ball & Associates Inc. now owns 15,256 shares of the specialty retailer’s stock valued at $1,821,000 after buying an additional 40 shares during the last quarter. Institutional investors own 92.85% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Pool Corporation from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a report on Tuesday, July 25th. BidaskClub raised Pool Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Finally, Johnson Rice raised Pool Corporation from an “accumulate” rating to a “buy” rating in a report on Monday, July 24th. Five analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $125.67.
Pool Corporation announced that its board has authorized a stock buyback plan on Wednesday, May 3rd that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the specialty retailer to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
Pool Corporation Company Profile
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is a distributor of irrigation and landscape products in the United States. As of December 31, 2016, the Company operated 344 sales centers in North America, Europe, South America and Australia, through its four distribution networks, including SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT).
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