Allspring Global Investments Holdings LLC Has $1.68 Million Position in Pool Co. (NASDAQ:POOL)

Allspring Global Investments Holdings LLC grew its holdings in Pool Co. (NASDAQ:POOL) by 19.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,457 shares of the specialty retailer’s stock after buying an additional 719 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pool were worth $1,679,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tortoise Investment Management LLC raised its position in Pool by 68.9% in the second quarter. Tortoise Investment Management LLC now owns 103 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Crewe Advisors LLC raised its holdings in shares of Pool by 232.4% in the 2nd quarter. Crewe Advisors LLC now owns 113 shares of the specialty retailer’s stock worth $35,000 after buying an additional 79 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Pool by 26.2% during the 2nd quarter. UMB Bank n.a. now owns 207 shares of the specialty retailer’s stock worth $64,000 after buying an additional 43 shares during the period. Ridgewood Investments LLC acquired a new stake in Pool in the 2nd quarter valued at $74,000. Finally, Summit Securities Group LLC bought a new stake in Pool in the second quarter valued at $75,000. 98.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on POOL. Robert W. Baird lifted their price objective on Pool from $377.00 to $408.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of Pool from $365.00 to $415.00 and gave the company a “buy” rating in a report on Friday, July 26th. Loop Capital upped their price objective on shares of Pool from $345.00 to $395.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Wells Fargo & Company lifted their target price on shares of Pool from $330.00 to $370.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, StockNews.com downgraded Pool from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pool has a consensus rating of “Hold” and an average price target of $369.11.

Pool Stock Performance

POOL stock opened at $364.45 on Thursday. The stock has a market capitalization of $13.94 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.39 and a quick ratio of 0.77. The company has a 50 day moving average price of $360.53 and a 200 day moving average price of $352.68. Pool Co. has a fifty-two week low of $293.51 and a fifty-two week high of $422.73.

Pool (NASDAQ:POOL) last issued its quarterly earnings results on Thursday, October 24th. The specialty retailer reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.15 by $0.11. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Pool had a return on equity of 31.89% and a net margin of 8.42%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 earnings per share. Analysts forecast that Pool Co. will post 11.02 EPS for the current year.

About Pool

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.