Pitcairn Co. Reduces Holdings in Pool Co. (NASDAQ:POOL)

Pitcairn Co. reduced its position in Pool Co. (NASDAQ:POOL) by 10.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,086 shares of the specialty retailer’s stock after selling 132 shares during the period. Pitcairn Co.’s holdings in Pool were worth $409,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. purchased a new stake in Pool during the 1st quarter worth approximately $393,000. Wahed Invest LLC grew its position in shares of Pool by 21.3% during the first quarter. Wahed Invest LLC now owns 739 shares of the specialty retailer’s stock worth $298,000 after buying an additional 130 shares in the last quarter. Virtu Financial LLC acquired a new stake in Pool in the first quarter valued at $2,525,000. LRI Investments LLC bought a new position in Pool during the 1st quarter valued at $243,000. Finally, Swedbank AB acquired a new position in Pool during the 1st quarter worth $96,528,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on POOL shares. Wells Fargo & Company upped their target price on shares of Pool from $330.00 to $370.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Stifel Nicolaus increased their target price on Pool from $335.00 to $340.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Loop Capital boosted their price target on Pool from $345.00 to $395.00 and gave the company a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded Pool from a “sell” rating to a “hold” rating in a research note on Saturday, November 2nd. Finally, Oppenheimer boosted their target price on shares of Pool from $380.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $369.11.

Pool Stock Down 2.9 %

POOL stock opened at $378.54 on Wednesday. The stock has a market cap of $14.41 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.22 and a beta of 1.01. The firm’s 50-day simple moving average is $366.56 and its 200 day simple moving average is $352.32. Pool Co. has a fifty-two week low of $293.51 and a fifty-two week high of $422.73. The company has a quick ratio of 0.77, a current ratio of 2.39 and a debt-to-equity ratio of 0.61.

Pool (NASDAQ:POOL) last released its quarterly earnings results on Thursday, October 24th. The specialty retailer reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.11. Pool had a return on equity of 31.89% and a net margin of 8.42%. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Pool Co. will post 11 EPS for the current year.

Pool Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Wednesday, November 13th. Pool’s dividend payout ratio (DPR) is 41.31%.

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; 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.