Concord Wealth Partners Makes New Investment in Pool Co. (NASDAQ:POOL)

Posted by on Apr 15th, 2023

Concord Wealth Partners purchased a new stake in Pool Co. (NASDAQ:POOL – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 116 shares of the specialty retailer’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Exchange Traded Concepts LLC purchased a new position in shares of Pool in the 4th quarter valued at $50,000. Natixis Advisors L.P. increased its holdings in shares of Pool by 5.4% in the 4th quarter. Natixis Advisors L.P. now owns 36,585 shares of the specialty retailer’s stock valued at $11,061,000 after acquiring an additional 1,859 shares during the period. TruWealth Advisors LLC increased its holdings in shares of Pool by 39.0% in the 4th quarter. TruWealth Advisors LLC now owns 30,445 shares of the specialty retailer’s stock valued at $9,204,000 after acquiring an additional 8,546 shares during the period. M&G Investment Management Ltd. increased its holdings in shares of Pool by 1,081.6% in the 4th quarter. M&G Investment Management Ltd. now owns 8,094 shares of the specialty retailer’s stock valued at $2,444,000 after acquiring an additional 7,409 shares during the period. Finally, First Bank & Trust increased its holdings in shares of Pool by 57.7% in the 4th quarter. First Bank & Trust now owns 1,937 shares of the specialty retailer’s stock valued at $585,000 after acquiring an additional 709 shares during the period. 98.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on POOL. Deutsche Bank Aktiengesellschaft upgraded Pool from a “hold” rating to a “buy” rating and set a $417.00 price target on the stock in a report on Tuesday, January 10th. KeyCorp raised their price objective on Pool from $345.00 to $387.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 25th. StockNews.com raised Pool from a “sell” rating to a “hold” rating in a research report on Saturday, April 1st. Oppenheimer began coverage on Pool in a research report on Thursday, March 9th. They issued an “outperform” rating and a $408.00 price objective for the company. Finally, Stifel Nicolaus cut Pool from a “buy” rating to a “hold” rating and raised their price objective for the stock from $355.00 to $360.00 in a research report on Monday, February 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $395.18.

Pool Stock Performance

Shares of POOL opened at $330.25 on Friday. The stock has a 50-day moving average of $351.45 and a two-hundred day moving average of $334.94. Pool Co. has a one year low of $278.10 and a one year high of $473.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.63 and a current ratio of 2.99. The stock has a market cap of $12.90 billion, a P/E ratio of 17.72, a P/E/G ratio of 3.46 and a beta of 0.94.

Pool (NASDAQ:POOL – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The specialty retailer reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.21). Pool had a return on equity of 61.70% and a net margin of 12.11%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm posted $2.30 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Pool Co. will post 16.49 EPS for the current year.

Pool Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $4.00 annualized dividend and a dividend yield of 1.21%. Pool’s dividend payout ratio (DPR) is presently 21.46%.

Pool Profile

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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.

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Institutional Ownership by Quarter for Pool (NASDAQ:POOL)

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