Pool Co. (NASDAQ:POOL) Shares Sold by Bank of America Corp DE

Posted by Defense World Staff on Jun 6th, 2023

Bank of America Corp DE lessened its stake in Pool Co. (NASDAQ:POOL – Get Rating) by 30.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 203,101 shares of the specialty retailer’s stock after selling 88,100 shares during the quarter. Bank of America Corp DE owned about 0.52% of Pool worth $61,403,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its holdings in shares of Pool by 127.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,570 shares of the specialty retailer’s stock valued at $1,136,000 after purchasing an additional 2,000 shares during the last quarter. Dfpg Investments LLC purchased a new stake in Pool during the 4th quarter worth $730,000. CI Investments Inc. increased its stake in Pool by 47.0% during the 4th quarter. CI Investments Inc. now owns 535 shares of the specialty retailer’s stock worth $162,000 after buying an additional 171 shares during the period. Eaton Vance Management increased its stake in Pool by 4.1% during the 3rd quarter. Eaton Vance Management now owns 84,175 shares of the specialty retailer’s stock worth $26,785,000 after buying an additional 3,352 shares during the period. Finally, Pendal Group Ltd increased its stake in Pool by 23.4% during the 4th quarter. Pendal Group Ltd now owns 9,063 shares of the specialty retailer’s stock worth $2,740,000 after buying an additional 1,719 shares during the period. Institutional investors and hedge funds own 98.15% of the company’s stock.

Pool Price Performance

Shares of NASDAQ:POOL opened at $327.39 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 2.36 and a debt-to-equity ratio of 1.06. Pool Co. has a fifty-two week low of $278.10 and a fifty-two week high of $423.97. The firm has a 50-day simple moving average of $337.73 and a 200 day simple moving average of $341.38. The company has a market cap of $12.77 billion, a PE ratio of 19.48, a P/E/G ratio of 3.69 and a beta of 0.94.

Pool Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Wednesday, May 17th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.34%. This is a positive change from Pool’s previous quarterly dividend of $1.00. The ex-dividend date was Tuesday, May 16th. Pool’s payout ratio is presently 26.17%.

Analyst Upgrades and Downgrades

POOL has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of Pool from $325.00 to $350.00 and gave the stock a “hold” rating in a research note on Monday, February 13th. Robert W. Baird dropped their price target on shares of Pool from $404.00 to $385.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Pool from $460.00 to $445.00 and set a “buy” rating for the company in a research report on Friday, April 21st. Bank of America dropped their target price on shares of Pool from $320.00 to $315.00 and set an “underperform” rating for the company in a research report on Wednesday, April 19th. Finally, Stifel Nicolaus dropped their target price on shares of Pool from $340.00 to $320.00 in a research report on Monday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Pool currently has a consensus rating of “Hold” and an average price target of $383.20.

Insider Buying and Selling at Pool

In other Pool news, General Counsel Jennifer M. Neil sold 2,333 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $352.00, for a total transaction of $821,216.00. Following the completion of the transaction, the general counsel now directly owns 8,095 shares of the company’s stock, valued at approximately $2,849,440. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.

Pool Profile

(Get Rating)

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.