Panagora Asset Management Inc. Trims Stock Position in Pool Co. (NASDAQ:POOL)

Panagora Asset Management Inc. trimmed its holdings in shares of Pool Co. (NASDAQ:POOL) by 59.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,713 shares of the specialty retailer’s stock after selling 2,557 shares during the period. Panagora Asset Management Inc.’s holdings in Pool were worth $526,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of POOL. VisionPoint Advisory Group LLC boosted its stake in shares of Pool by 11,800.0% during the 4th quarter. VisionPoint Advisory Group LLC now owns 119 shares of the specialty retailer’s stock worth $47,000 after purchasing an additional 118 shares during the last quarter. UMB Bank n.a. boosted its position in Pool by 221.6% during the first quarter. UMB Bank n.a. now owns 164 shares of the specialty retailer’s stock worth $66,000 after acquiring an additional 113 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Pool in the 2nd quarter worth approximately $74,000. Summit Securities Group LLC acquired a new position in Pool in the 2nd quarter valued at $75,000. Finally, Blue Trust Inc. lifted its stake in shares of Pool by 693.5% during the 2nd quarter. Blue Trust Inc. now owns 246 shares of the specialty retailer’s stock worth $76,000 after purchasing an additional 215 shares during the period. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

POOL has been the subject of a number of recent analyst reports. Oppenheimer lifted their price objective on Pool from $356.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Robert W. Baird upped their price objective on shares of Pool from $305.00 to $377.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Stephens decreased their target price on shares of Pool from $425.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 25th. Stifel Nicolaus upped their price target on shares of Pool from $310.00 to $335.00 and gave the stock a “hold” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company lifted their price target on shares of Pool from $285.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $350.00.

Pool Stock Down 3.3 %

Shares of NASDAQ POOL opened at $340.00 on Wednesday. The stock has a fifty day moving average price of $337.79 and a 200 day moving average price of $362.75. The company has a current ratio of 2.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. Pool Co. has a 12-month low of $293.51 and a 12-month high of $422.73. The company has a market cap of $13.03 billion, a P/E ratio of 26.60, a P/E/G ratio of 2.58 and a beta of 1.00.

Pool (NASDAQ:POOL) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $4.99 EPS for the quarter, beating the consensus estimate of $4.90 by $0.09. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.74 billion. Pool had a return on equity of 32.85% and a net margin of 8.58%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the business posted $5.89 EPS. Research analysts anticipate that Pool Co. will post 10.98 EPS for the current fiscal year.

Pool Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a $1.20 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $4.80 annualized dividend and a dividend yield of 1.41%. Pool’s dividend payout ratio (DPR) is presently 37.56%.

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.