Bank of New York Mellon Corp Raises Position in Pool Corporation (POOL)
Bank of New York Mellon Corp boosted its stake in shares of Pool Corporation (NASDAQ:POOL) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 567,332 shares of the specialty retailer’s stock after buying an additional 19,822 shares during the period. Bank of New York Mellon Corp owned approximately 1.38% of Pool Corporation worth $66,700,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC raised its stake in Pool Corporation by 62.9% in the second quarter. SG Americas Securities LLC now owns 16,246 shares of the specialty retailer’s stock worth $1,910,000 after buying an additional 6,271 shares during the last quarter. Rhumbline Advisers raised its stake in Pool Corporation by 0.6% in the second quarter. Rhumbline Advisers now owns 87,729 shares of the specialty retailer’s stock worth $10,314,000 after buying an additional 526 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Pool Corporation by 142.0% in the second quarter. Teacher Retirement System of Texas now owns 7,985 shares of the specialty retailer’s stock worth $939,000 after buying an additional 4,685 shares during the last quarter. Rice Hall James & Associates LLC raised its stake in Pool Corporation by 25.6% in the second quarter. Rice Hall James & Associates LLC now owns 333,789 shares of the specialty retailer’s stock worth $39,244,000 after buying an additional 68,076 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Pool Corporation by 6.1% in the second quarter. First Trust Advisors LP now owns 80,137 shares of the specialty retailer’s stock worth $9,422,000 after buying an additional 4,611 shares during the last quarter. 92.30% of the stock is currently owned by institutional investors.
Shares of Pool Corporation (NASDAQ POOL) opened at 97.92 on Thursday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 25.45 and a beta of 0.91. The company’s 50 day moving average price is $109.79 and its 200-day moving average price is $116.41. Pool Corporation has a 1-year low of $88.64 and a 1-year high of $124.25.
Pool Corporation (NASDAQ:POOL) last posted its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by $0.03. Pool Corporation had a return on equity of 63.34% and a net margin of 6.15%. The business had revenue of $988.16 million for the quarter. During the same period in the previous year, the company earned $1.98 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. Equities analysts expect that Pool Corporation will post $4.21 EPS for the current fiscal year.
Pool Corporation declared that its board has initiated a share repurchase program on Wednesday, May 3rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the specialty retailer to purchase up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Monday, August 7th. Pool Corporation’s dividend payout ratio is presently 38.74%.
A number of research firms recently commented on POOL. BidaskClub raised Pool Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 16th. Zacks Investment Research raised Pool Corporation from a “hold” rating to a “buy” rating and set a $137.00 price objective on the stock in a research note on Friday, June 16th. Finally, Johnson Rice raised Pool Corporation from an “accumulate” rating to a “buy” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Pool Corporation presently has an average rating of “Buy” and a consensus price target of $125.67.
Pool Corporation Company Profile
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is a distributor of irrigation and landscape products in the United States. As of December 31, 2016, the Company operated 344 sales centers in North America, Europe, South America and Australia, through its four distribution networks, including SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT).
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