Kingsview Wealth Management LLC Sells 2,678 Shares of Pool Co. (NASDAQ:POOL)

Posted by Defense World Staff on Jun 12th, 2023

Kingsview Wealth Management LLC decreased its stake in Pool Co. (NASDAQ:POOL – Get Rating) by 75.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 863 shares of the specialty retailer’s stock after selling 2,678 shares during the period. Kingsview Wealth Management LLC’s holdings in Pool were worth $261,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Pool by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,424,510 shares of the specialty retailer’s stock worth $1,870,904,000 after acquiring an additional 12,654 shares during the last quarter. Geode Capital Management LLC lifted its position in Pool by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 875,727 shares of the specialty retailer’s stock worth $264,324,000 after acquiring an additional 21,320 shares during the last quarter. Blair William & Co. IL lifted its position in Pool by 24.7% during the fourth quarter. Blair William & Co. IL now owns 689,597 shares of the specialty retailer’s stock worth $208,486,000 after acquiring an additional 136,460 shares during the last quarter. Premier Fund Managers Ltd raised its position in shares of Pool by 478.5% in the fourth quarter. Premier Fund Managers Ltd now owns 688,356 shares of the specialty retailer’s stock valued at $40,974,000 after buying an additional 569,356 shares in the last quarter. Finally, Pictet Asset Management SA raised its position in shares of Pool by 6.5% in the third quarter. Pictet Asset Management SA now owns 587,792 shares of the specialty retailer’s stock valued at $187,041,000 after buying an additional 36,019 shares in the last quarter. Institutional investors own 98.15% of the company’s stock.

Insider Transactions at Pool

In other 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 sale, the general counsel now directly owns 8,095 shares of the company’s stock, valued at $2,849,440. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.

Pool Stock Up 1.6 %

Shares of NASDAQ POOL traded up $5.17 during trading on Monday, hitting $331.59. 98,153 shares of the company traded hands, compared to its average volume of 420,226. The business’s fifty day moving average is $337.40 and its 200 day moving average is $341.56. Pool Co. has a fifty-two week low of $278.10 and a fifty-two week high of $423.97. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 3.69 and a beta of 0.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 2.36.

Pool Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 17th were issued a dividend of $1.10 per share. The ex-dividend date of this dividend was Tuesday, May 16th. This represents a $4.40 annualized dividend and a dividend yield of 1.33%. This is a positive change from Pool’s previous quarterly dividend of $1.00. Pool’s dividend payout ratio is currently 26.17%.

Wall Street Analyst Weigh In

POOL has been the subject of a number of analyst reports. StockNews.com upgraded shares of Pool from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. The Goldman Sachs Group lifted their price target on shares of Pool from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Stephens upgraded shares of Pool from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $415.00 to $420.00 in a research report on Friday, April 21st. Oppenheimer dropped their price target on shares of Pool from $408.00 to $375.00 in a research report on Monday, April 24th. Finally, Loop Capital decreased their target price on shares of Pool from $415.00 to $410.00 and set a “buy” rating on the stock in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $383.20.

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.