Covington Capital Management lifted its position in Pool Co. (NASDAQ:POOL – Get Rating) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,120 shares of the specialty retailer’s stock after acquiring an additional 65 shares during the period. Covington Capital Management’s holdings in Pool were worth $993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in POOL. Cresset Asset Management LLC boosted its holdings in Pool by 7.2% in the first quarter. Cresset Asset Management LLC now owns 479 shares of the specialty retailer’s stock valued at $203,000 after purchasing an additional 32 shares during the last quarter. Utah Retirement Systems boosted its holdings in Pool by 0.5% in the third quarter. Utah Retirement Systems now owns 6,922 shares of the specialty retailer’s stock valued at $2,202,000 after purchasing an additional 35 shares during the last quarter. M&G Investment Management Ltd. boosted its holdings in Pool by 4.1% in the second quarter. M&G Investment Management Ltd. now owns 1,025 shares of the specialty retailer’s stock valued at $360,000 after purchasing an additional 40 shares during the last quarter. Intrust Bank NA boosted its holdings in Pool by 1.0% in the third quarter. Intrust Bank NA now owns 4,188 shares of the specialty retailer’s stock valued at $1,333,000 after purchasing an additional 40 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Pool by 2.3% in the third quarter. Kestra Advisory Services LLC now owns 1,856 shares of the specialty retailer’s stock valued at $591,000 after purchasing an additional 42 shares during the last quarter. 98.15% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on POOL. The Goldman Sachs Group upped their price target on shares of Pool from $375.00 to $425.00 and gave the company a “buy” rating in a report on Friday, February 17th. KeyCorp increased their target price on shares of Pool from $345.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 25th. StockNews.com raised shares of Pool from a “sell” rating to a “hold” rating in a research note on Friday, February 3rd. Bank of America assumed coverage on shares of Pool in a research note on Thursday, December 15th. They set an “underperform” rating and a $291.00 target price on the stock. Finally, Oppenheimer assumed coverage on shares of Pool in a research note on Thursday, March 9th. They set an “outperform” rating and a $408.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Pool presently has a consensus rating of “Hold” and a consensus target price of $391.09.
Pool Stock Up 1.6 %
Pool (NASDAQ:POOL – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The specialty retailer reported $1.79 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.21). The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. Pool had a return on equity of 61.70% and a net margin of 12.11%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $2.30 EPS. Sell-side analysts expect that Pool Co. will post 16.52 earnings per share for the current fiscal year.
Pool Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 15th will be issued a $1.00 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $4.00 dividend on an annualized basis and a yield of 1.14%. Pool’s payout ratio is 21.46%.
Pool Profile
Pool Corp. engages in the wholesale distribution of swimming pool supplies, equipment, and related leisure products. It also offers non-discretionary pool maintenance products such as chemicals and replacement parts, discretionary products like packaged pool kits, whole goods, irrigation, and landscape products, including a complete line of commercial and residential irrigation products and parts, power equipment for the professional landscape market, specialty products such as outdoor lighting, grills, and outdoor kitchen components, and golf irrigation and water management products.
Further Reading
- Get a free copy of the StockNews.com research report on Pool (POOL)
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