Intech Investment Management LLC, an investment management firm, has reduced its stake in Pool Co. (NASDAQ:POOL) by 64.8% during the first quarter of this year. This information was revealed in the company’s most recent 13F filing with the Securities & Exchange Commission. The firm now holds 6,897 shares of Pool’s stock after selling 12,699 shares during the period.
This decision made by Intech Investment Management LLC reflects a change in their investment strategy regarding Pool Co. The value of their holdings in Pool at the end of the reporting period amounted to $2,362,000.
In addition to this development, Pool Co. recently announced a quarterly dividend that was paid on August 24th, just yesterday. Shareholders as of August 10th were eligible to receive a dividend of $1.10 per share. With an annualized dividend payout amounting to $4.40 and a dividend yield of 1.25%, Pool remains committed to providing returns for its loyal investors.
It is worth noting that shareholders who owned Pool’s stock before August 9th were entitled to receive this dividend, as the ex-dividend date was set on that day.
At present, Pool’s dividend payout ratio stands at 29.16%, which indicates that the company is returning a significant portion of its earnings to shareholders through dividends.
These developments in Intech Investment Management LLC’s position and Pool Co.’s dividend distribution have drawn attention from market participants and investors alike. As stakeholders evaluate their investment portfolios and make strategic decisions based on these new insights, it will be interesting to observe how these factors influence both Pool’s performance and investor sentiment moving forward.
Overall, with yet another successful dividend payment under its belt and ongoing adjustments within its shareholder base, Pool Co. continues to navigate the financial markets with determination and stability.
Updated on: 07/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Loop Capital Markets
Large Investors Show Interest in Pool Corporation as Changes to Holdings Occur
It seems that Pool Corporation, a specialty retailer, has caught the attention of several large investors who have made some significant changes to their holdings. One such investor, Atria Investments Inc, has increased its stake in Pool by 8.7% during the first quarter of this year. This increase resulted in Atria Investments Inc now owning 9,948 shares of Pool’s stock, with a value of $3,407,000 after purchasing an additional 792 shares during this period.
Another investor making moves is Ameritas Investment Partners Inc. They also increased their stake in Pool by 0.7% during the first quarter and now own 5,204 shares valued at $1,782,000 after acquiring an additional 35 shares.
Private Advisor Group LLC and Ascent Group LLC are two other investment firms that acquired new positions in Pool during the first quarter. Private Advisor Group LLC’s position is valued at approximately $305,000 while Ascent Group LLC’s position is valued at roughly $200,000.
Vanguard Personalized Indexing Management LLC took a different approach by increasing its stake in Pool by a substantial 39.7% during the first quarter. This move allowed them to acquire 2,109 more shares worth $722,000.
Interestingly enough, institutional investors and hedge funds currently hold a staggering 99.05% of Pool Corporation’s stock.
In addition to these changes in ownership, various brokerages have recently issued reports on POOL stock as well. Oppenheimer raised their price objective on shares of Pool to $380 from $375 and gave the stock an “outperform” rating in one report released on Friday, July 21st. Stifel Nicolaus also jumped on board by raising their price objective from $320 to $350.
Finally, StockNews.com began coverage on shares of Pool with a “hold” rating on Thursday August 17th. They appear to be the only brokerage who has come out as neutral so far, as one analyst gave the stock a sell rating, four issued hold ratings, and six provided a buy rating. Bloomberg reports that the company currently holds an average rating of “hold” with a consensus price target of $386.70.
Considering these recent developments, it is intriguing to observe that Pool’s stock opened at $352.32 on Friday with a market cap of $13.76 billion. The company has a debt-to-equity ratio of 0.79 and both quick ratio and current ratios of 0.91 and 2.72 respectively.
Pool Co.’s performance throughout the year could be seen as relatively stable, given that it has a P/E ratio of 23.35 and a P/E/G ratio of 4.57 with a beta value of 0.98 indicating lower volatility compared to the broader market.
When Pool Co. posted its quarterly earnings results on Thursday, July 20th, they reported an EPS (earnings per share) of $5.89 for the quarter which fell short by ($0.12) compared to the consensus estimate of $6.01.
Despite this slight miss in EPS, the company managed to generate revenue amounting to $1.86 billion for the quarter, although this figure was slightly below analyst estimates which predicted revenue to reach $1.89 billion.
To add some context to these figures, it is important to note that Pool’s return on equity stood at an impressive 45.78% during this time period while their net margin was reported at 10.32%. However, it should be highlighted that their revenue declined by 9.7% in comparison to the same quarter last year when Pool posted earnings per share (EPS) of $7.59.
As we look towards the future, research analysts anticipate that Pool Co.’s earnings per share for the current fiscal year will be approximately $13.32.
These recent developments and financial results indicate that while Pool Co. is facing some challenges, there are still reasons to remain cautiously optimistic about its future performance.