Teacher Retirement System of Texas reduced its holdings in Pool Co. (NASDAQ:POOL) by 25.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 22,091 shares of the specialty retailer’s stock after selling 7,538 shares during the quarter. Teacher Retirement System of Texas’ holdings in Pool were worth $9,597,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC grew its position in Pool by 134.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 68 shares of the specialty retailer’s stock worth $30,000 after purchasing an additional 39 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Pool in the 2nd quarter valued at about $36,000. Berman Capital Advisors LLC lifted its holdings in Pool by 335.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 87 shares of the specialty retailer’s stock valued at $40,000 after acquiring an additional 67 shares during the last quarter. Farmers & Merchants Investments Inc. grew its position in Pool by 30.7% in the third quarter. Farmers & Merchants Investments Inc. now owns 98 shares of the specialty retailer’s stock worth $43,000 after buying an additional 23 shares during the last quarter. Finally, Strategic Asset Management LLC acquired a new position in shares of Pool in the 3rd quarter worth $45,000. 90.89% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on POOL. Jefferies Financial Group restated a “hold” rating and set a $550.00 price objective on shares of Pool in a research report on Thursday, December 30th. KeyCorp upped their price objective on shares of Pool from $500.00 to $570.00 and gave the stock an “overweight” rating in a report on Friday, October 22nd. Zacks Investment Research downgraded Pool from a “buy” rating to a “hold” rating and set a $594.00 price target on the stock. in a report on Monday, January 3rd. Stephens lifted their price objective on Pool from $505.00 to $570.00 and gave the stock an “equal weight” rating in a research note on Monday, October 25th. Finally, Loop Capital increased their target price on shares of Pool from $485.00 to $540.00 and gave the company a “hold” rating in a research note on Friday, October 22nd. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Pool currently has a consensus rating of “Hold” and an average target price of $555.57.
Pool (NASDAQ:POOL) last posted its quarterly earnings data on Wednesday, October 20th. The specialty retailer reported $4.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.64. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.37 billion. Pool had a net margin of 11.81% and a return on equity of 76.16%. The firm’s revenue was up 23.9% compared to the same quarter last year. During the same period last year, the company earned $2.71 earnings per share. On average, analysts predict that Pool Co. will post 15.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 24th. Stockholders of record on Thursday, November 11th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, November 9th. Pool’s dividend payout ratio is presently 21.65%.
In other Pool news, Vice Chairman De La Mesa Manuel J. Perez sold 9,067 shares of the company’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $575.09, for a total value of $5,214,341.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman De La Mesa Manuel J. Perez sold 21,278 shares of the firm’s stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $578.32, for a total transaction of $12,305,492.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,088 shares of company stock worth $29,394,064. Insiders own 4.00% of the company’s stock.
Pool Company Profile
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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