Millennium Management LLC increased its stake in Pool Co. (NASDAQ:POOL) by 170.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,240 shares of the specialty retailer’s stock after acquiring an additional 160,237 shares during the period. Millennium Management LLC owned about 0.63% of Pool worth $87,774,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its holdings in Pool by 67.4% during the 1st quarter. Meeder Asset Management Inc. now owns 159 shares of the specialty retailer’s stock valued at $55,000 after purchasing an additional 64 shares during the period. CSat Investment Advisory L.P. increased its holdings in Pool by 35.9% during the 1st quarter. CSat Investment Advisory L.P. now owns 174 shares of the specialty retailer’s stock valued at $60,000 after purchasing an additional 46 shares during the period. Quadrant Capital Group LLC increased its holdings in Pool by 47.7% during the 1st quarter. Quadrant Capital Group LLC now owns 192 shares of the specialty retailer’s stock valued at $66,000 after purchasing an additional 62 shares during the period. Pinz Capital Management LP purchased a new position in Pool during the 1st quarter valued at about $68,000. Finally, Lumature Wealth Partners LLC purchased a new position in Pool during the 1st quarter valued at about $78,000. 90.36% of the stock is owned by institutional investors.
POOL stock traded down $7.09 during midday trading on Thursday, hitting $450.60. The company’s stock had a trading volume of 13,544 shares, compared to its average volume of 258,576. The stock has a market capitalization of $18.08 billion, a P/E ratio of 42.23 and a beta of 0.79. Pool Co. has a 12 month low of $285.92 and a 12 month high of $478.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.64 and a current ratio of 1.80. The business has a 50-day simple moving average of $447.05.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 28th. Investors of record on Monday, May 17th were given a $0.80 dividend. The ex-dividend date of this dividend was Friday, May 14th. This is a boost from Pool’s previous quarterly dividend of $0.58. This represents a $3.20 annualized dividend and a yield of 0.71%. Pool’s dividend payout ratio is 38.00%.
A number of research analysts recently issued reports on the company. The Goldman Sachs Group began coverage on Pool in a report on Tuesday, May 18th. They set a “buy” rating and a $535.00 price target on the stock. Loop Capital upped their target price on Pool from $440.00 to $470.00 and gave the stock a “buy” rating in a report on Friday, June 4th. They noted that the move was a valuation call. KeyCorp upped their target price on Pool from $450.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, June 8th. Zacks Investment Research downgraded Pool from a “buy” rating to a “hold” rating and set a $482.00 target price on the stock. in a report on Thursday, July 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $410.00 target price on shares of Pool in a report on Wednesday, May 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Pool has an average rating of “Buy” and an average target price of $453.43.
In other news, VP Romain Kenneth G. St sold 9,310 shares of the stock in a transaction on Monday, May 10th. The stock was sold at an average price of $444.97, for a total transaction of $4,142,670.70. Following the transaction, the vice president now directly owns 88,517 shares of the company’s stock, valued at approximately $39,387,409.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Jennifer M. Neil sold 1,795 shares of the stock in a transaction on Monday, May 24th. The shares were sold at an average price of $430.80, for a total value of $773,286.00. Following the transaction, the general counsel now directly owns 12,794 shares in the company, valued at $5,511,655.20. The disclosure for this sale can be found here. Insiders have sold a total of 50,711 shares of company stock worth $21,757,571 over the last three months. Insiders own 4.00% of the company’s stock.
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; fiberglass pools, and hot tubs and packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and related products consisting of irrigation system components, and professional lawn care equipment and supplies.
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