ExodusPoint Capital Management LP Trims Stock Position in Pool Co. (NASDAQ:POOL)

Posted by on Jun 12th, 2023

ExodusPoint Capital Management LP trimmed its holdings in Pool Co. (NASDAQ:POOL – Get Rating) by 79.0% in the 4th quarter, HoldingsChannel reports. The fund owned 3,974 shares of the specialty retailer’s stock after selling 14,984 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Pool were worth $1,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of POOL. Thompson Siegel & Walmsley LLC acquired a new position in Pool in the 4th quarter valued at about $26,000. Concord Wealth Partners acquired a new stake in shares of Pool in the fourth quarter valued at $35,000. Spire Wealth Management raised its stake in shares of Pool by 191.5% in the fourth quarter. Spire Wealth Management now owns 137 shares of the specialty retailer’s stock valued at $41,000 after acquiring an additional 90 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Pool in the fourth quarter valued at $50,000. Finally, Eagle Bay Advisors LLC raised its stake in shares of Pool by 226.8% in the fourth quarter. Eagle Bay Advisors LLC now owns 183 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 127 shares in the last quarter. 98.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pool news, General Counsel Jennifer M. Neil sold 2,333 shares of Pool stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $352.00, for a total value of $821,216.00. Following the sale, the general counsel now owns 8,095 shares of the company’s stock, valued at approximately $2,849,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on POOL. Oppenheimer reduced their price objective on Pool from $408.00 to $375.00 in a research note on Monday, April 24th. Jefferies Financial Group raised their price target on Pool from $325.00 to $350.00 and gave the company a “hold” rating in a research note on Monday, February 13th. Stifel Nicolaus cut their price target on Pool from $340.00 to $320.00 in a research note on Monday, April 24th. Bank of America cut their price target on Pool from $320.00 to $315.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 19th. Finally, Robert W. Baird cut their target price on Pool from $404.00 to $385.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Pool has a consensus rating of “Hold” and a consensus target price of $383.20.

Pool Stock Performance

Shares of NASDAQ POOL traded up $2.17 during midday trading on Monday, reaching $328.59. 63,134 shares of the company were exchanged, compared to its average volume of 419,948. The company has a current ratio of 2.36, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. Pool Co. has a 1 year low of $278.10 and a 1 year high of $423.97. The stock has a fifty day simple moving average of $337.40 and a 200 day simple moving average of $341.56. The stock has a market cap of $12.82 billion, a P/E ratio of 19.42, a PEG ratio of 3.69 and a beta of 0.94.

Pool Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Investors 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 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Pool’s previous quarterly dividend of $1.00. Pool’s dividend payout ratio (DPR) is currently 26.17%.

About Pool

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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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