DoubleLine ETF Adviser LP Makes New Investment in Pool Co. (NASDAQ:POOL)

DoubleLine ETF Adviser LP purchased a new stake in Pool Co. (NASDAQ:POOL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,020 shares of the specialty retailer’s stock, valued at approximately $313,000.

A number of other hedge funds also recently made changes to their positions in POOL. Norges Bank bought a new position in Pool during the 4th quarter worth approximately $44,697,000. Assetmark Inc. raised its stake in Pool by 28.7% during the fourth quarter. Assetmark Inc. now owns 413 shares of the specialty retailer’s stock worth $165,000 after buying an additional 92 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Pool by 93.5% in the fourth quarter. Franklin Resources Inc. now owns 15,875 shares of the specialty retailer’s stock valued at $6,330,000 after buying an additional 7,672 shares during the period. Advisory Services Network LLC bought a new stake in Pool during the fourth quarter valued at $187,000. Finally, Intech Investment Management LLC grew its holdings in Pool by 28.6% during the 4th quarter. Intech Investment Management LLC now owns 1,165 shares of the specialty retailer’s stock worth $464,000 after acquiring an additional 259 shares during the period. 98.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

POOL has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Pool from $285.00 to $330.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Oppenheimer increased their price target on Pool from $356.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. The Goldman Sachs Group lifted their price objective on shares of Pool from $365.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Bank of America cut their target price on shares of Pool from $338.00 to $290.00 and set an “underperform” rating on the stock in a research note on Tuesday, June 25th. Finally, StockNews.com downgraded shares of Pool from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Pool has a consensus rating of “Hold” and an average target price of $350.00.

Pool Stock Up 1.2 %

Shares of NASDAQ POOL opened at $370.33 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.48 and a quick ratio of 0.88. The company has a 50-day moving average price of $353.13 and a 200-day moving average price of $358.65. The stock has a market capitalization of $14.19 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.70 and a beta of 1.00. Pool Co. has a 1 year low of $293.51 and a 1 year high of $422.73.

Pool (NASDAQ:POOL) last issued its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $4.99 EPS for the quarter, topping analysts’ consensus estimates of $4.90 by $0.09. Pool had a return on equity of 32.85% and a net margin of 8.58%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $5.89 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts forecast that Pool Co. will post 10.99 EPS for the current fiscal year.

Pool Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, August 15th. Pool’s dividend payout ratio is 37.56%.

About Pool

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; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.