On August 31, 2023, it was reported that &Cibc World Markets Corp had reduced its holdings in Pool Co. by 23.7% during the first quarter of the year. According to the company’s 13F filing with the Securities and Exchange Commission (SEC), their fund owned 7,043 shares of Pool Co.’s stock after selling 2,189 shares in that quarter. The value of Cibc World Markets Corp’s holdings in Pool Co. amounted to $2,412,000 by the end of this reporting period.
Pool Co., listed on the NASDAQ exchange under ticker symbol POOL, recently announced its quarterly earnings results on July 20th. The specialty retailer recorded earnings per share (EPS) of $5.89 for the quarter, falling short of the consensus estimate by ($0.12). Despite this slight miss, Pool Co. maintained a net margin of 10.32% and a return on equity of 45.78%. The company generated $1.86 billion in revenue during the quarter compared to analyst estimates of $1.89 billion.
However, it is worth noting that Pool Co.’s quarterly revenue experienced a decline of 9.7% when compared to the same period last year. In the corresponding quarter from the previous year, they reported an EPS of $7.59.
Analysts involved in sell-side analysis are forecasting that Pool Co.’s current fiscal year will result in earnings per share amounting to 13.32.
It is important for investors and market participants to keep track of companies’ financial performances and any changes made by major stakeholders such as Cibc World Markets Corp. This information helps provide insight into market trends and potential future developments.
Please note that this article is based on information available as of August 31, 2023 and is subject to change as new data becomes available or circumstances evolve.
Pool Corporation
POOL
Strong Buy
Updated on: 07/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Investor Interest in Pool Co. Surges – What Does it Signal for the Company?
August 31, 2023
Investors Make Moves on Pool Co. Stock – What Does It Mean?
In recent months, the specialty retailer Pool Co. (NASDAQ: POOL) has seen a number of large investors adjusting their stakes in the company. This news has sparked interest and speculation among market watchers, causing perplexity and a sense of bustiness within the investment community. With these developments, it is important to understand the implications for both the company and its shareholders.
One notable increase in stake comes from Colonial Trust Co SC, who have raised their position in Pool by an astonishing 2,214.3% during the first quarter of the year. Colonial Trust Co SC now owns 648 shares of Pool stock valued at $222,000 after purchasing an additional 620 shares during this period. Similarly, RMB Capital Management LLC increased their position in Pool by 2.6% during the same quarter, now owning 45,735 shares valued at $15,661,000 after purchasing an additional 1,148 shares.
Additionally, King Luther Capital Management Corp and PAX Financial Group LLC joined the trend by increasing their positions in Pool by 3.5% and 2.3% respectively during the first quarter. These institutional investors added a combined total of over $2 million worth of Pool stock to their portfolios.
Acadian Asset Management LLC took a slightly different approach to investing in Pool by increasing its position by 11.9%. Acadian now owns 471 shares valued at $161,000 after purchasing an additional 50 shares during that period.
Overall, these adjustments indicate a growing level of confidence among institutional investors in Pool Co.’s potential for growth and profitability.
Looking at other financial aspects of Pool Co., we see that NASDAQ POOL opened at $369.79 on Thursday with a fifty-day simple moving average of $369.67 and a two hundred-day simple moving average of $353.04. The company boasts a current ratio of 2.72, a quick ratio of 0.91, and a debt-to-equity ratio of 0.79.
With a market capitalization of $14.44 billion, Pool Co.’s performance in the previous year has seen its stock reach a low of $278.10 and a high of $423.97 – an impressive range that reflects possible investor interest in the company.
In terms of dividends, Pool Co. recently declared its quarterly dividend, which was paid out on Thursday, August 24th to shareholders who held positions as of Thursday, August 10th. Shareholders received a dividend payout of $1.10 per share, resulting in an annualized dividend amounting to $4.40 per share and yielding approximately 1.19%. Investors who held shares up until Wednesday, August 9th were eligible for the dividend as part of the ex-dividend date.
Several analysts have offered their perspective on Pool Co.’s stock value and potential growth prospects. StockNews.com initiated coverage with a “hold” rating for the company in their research report released on Thursday, August 17th.
Oppenheimer raised their target price to $380.00 from $375.00 with an “outperform” rating in their research report on Friday, July 21st.
Lastly, Stifel Nicolaus raised their price objective to $350.00 from $320.00 in a research report issued on Monday, July 17th.
While one analyst has given the stock a sell rating, four analysts recommend holding onto the stock and six analysts have expressed optimism by giving it a buy rating.
According to Bloomberg data, Pool Co.’s consensus rating is categorized as “Hold,” with an average target price estimated at $386.70 based on these assessments.
As investors digest these findings and analysts continue to monitor the developments, Pool Co. remains an intriguing company with an evolving landscape that will require careful observation and analysis.
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