Allspring Global Investments Holdings LLC Increases Position in Pool Co. (NASDAQ:POOL)

Allspring Global Investments Holdings LLC raised its position in Pool Co. (NASDAQ:POOL) by 46.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,376 shares of the specialty retailer’s stock after purchasing an additional 1,385 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Pool were worth $1,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of POOL. JPMorgan Chase & Co. increased its position in shares of Pool by 56.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 865,362 shares of the specialty retailer’s stock valued at $308,156,000 after purchasing an additional 313,190 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Pool by 30,047.2% in the 4th quarter. International Assets Investment Management LLC now owns 183,898 shares of the specialty retailer’s stock valued at $73,322,000 after buying an additional 183,288 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of Pool by 585.6% in the 4th quarter. TD Asset Management Inc now owns 183,060 shares of the specialty retailer’s stock valued at $72,988,000 after buying an additional 156,361 shares in the last quarter. Norges Bank acquired a new position in shares of Pool in the 4th quarter valued at $44,697,000. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of Pool by 711.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 123,419 shares of the specialty retailer’s stock valued at $49,208,000 after buying an additional 108,207 shares in the last quarter. 98.99% of the stock is owned by hedge funds and other institutional investors.

Pool Stock Down 0.1 %

Shares of NASDAQ:POOL opened at $301.09 on Thursday. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.22 and a beta of 1.00. The firm’s 50-day simple moving average is $351.22 and its 200-day simple moving average is $376.26. The company has a quick ratio of 0.56, a current ratio of 1.88 and a debt-to-equity ratio of 0.70. Pool Co. has a fifty-two week low of $298.07 and a fifty-two week high of $422.73.

Pool (NASDAQ:POOL) last issued its earnings results on Thursday, April 25th. The specialty retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.02). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Pool had a net margin of 9.17% and a return on equity of 35.49%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 EPS. As a group, equities research analysts predict that Pool Co. will post 10.94 earnings per share for the current year.

Pool Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were issued a $1.20 dividend. This is an increase from Pool’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.59%. Pool’s payout ratio is presently 37.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Loop Capital lowered their target price on shares of Pool from $370.00 to $305.00 and set a “hold” rating for the company in a report on Tuesday, June 25th. Bank of America lowered their target price on shares of Pool from $338.00 to $290.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Robert W. Baird decreased their price target on shares of Pool from $380.00 to $305.00 and set a “neutral” rating for the company in a research note on Tuesday, June 25th. Stifel Nicolaus lowered their price objective on shares of Pool from $370.00 to $360.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Finally, Wells Fargo & Company lowered their price objective on shares of Pool from $360.00 to $290.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $328.00.

Pool Company Profile

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.