Oak Ridge Investments LLC Has $17.04 Million Holdings in Pool Co. (POOL)
Oak Ridge Investments LLC cut its holdings in shares of Pool Co. (NASDAQ:POOL) by 36.8% during the 1st quarter, Holdings Channel reports. The firm owned 103,295 shares of the specialty retailer’s stock after selling 60,055 shares during the quarter. Pool makes up approximately 1.1% of Oak Ridge Investments LLC’s portfolio, making the stock its 25th biggest holding. Oak Ridge Investments LLC’s holdings in Pool were worth $17,041,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of POOL. Bessemer Group Inc. grew its position in shares of Pool by 81.2% in the 4th quarter. Bessemer Group Inc. now owns 520 shares of the specialty retailer’s stock worth $77,000 after acquiring an additional 233 shares in the last quarter. King Luther Capital Management Corp grew its position in shares of Pool by 79.2% in the 4th quarter. King Luther Capital Management Corp now owns 13,405 shares of the specialty retailer’s stock worth $1,993,000 after acquiring an additional 5,925 shares in the last quarter. Atlanta Capital Management Co. L L C grew its position in shares of Pool by 18.8% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 912,826 shares of the specialty retailer’s stock worth $135,692,000 after acquiring an additional 144,724 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in shares of Pool in the 4th quarter worth approximately $311,000. Finally, Handelsbanken Fonder AB grew its position in shares of Pool by 53.7% in the 4th quarter. Handelsbanken Fonder AB now owns 707,103 shares of the specialty retailer’s stock worth $105,111,000 after acquiring an additional 247,103 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.
In other news, Director Harlan F. Seymour sold 8,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $181.09, for a total value of $1,448,720.00. Following the sale, the director now owns 8,861 shares of the company’s stock, valued at approximately $1,604,638.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman De La Mesa Manuel J. Perez sold 50,400 shares of the business’s stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $160.51, for a total value of $8,089,704.00. Following the completion of the sale, the insider now directly owns 69,041 shares in the company, valued at approximately $11,081,770.91. The disclosure for this sale can be found here. Insiders have sold a total of 291,831 shares of company stock worth $50,033,557 in the last ninety days. 6.00% of the stock is owned by company insiders.
Pool (NASDAQ:POOL) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.05). The business had revenue of $597.50 million for the quarter, compared to the consensus estimate of $608.36 million. Pool had a net margin of 7.83% and a return on equity of 79.99%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. On average, research analysts forecast that Pool Co. will post 6.07 EPS for the current fiscal year.
Pool announced that its board has approved a share buyback program on Thursday, May 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.20 annualized dividend and a yield of 1.22%. This is an increase from Pool’s previous quarterly dividend of $0.45. Pool’s payout ratio is presently 39.15%.
Several research analysts have recently commented on the company. Zacks Investment Research lowered Pool from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Stephens set a $186.00 target price on Pool and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Robert W. Baird upgraded Pool from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $177.00 in a research report on Friday, February 22nd. BidaskClub upgraded Pool from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, ValuEngine lowered Pool from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $171.20.
TRADEMARK VIOLATION NOTICE: “Oak Ridge Investments LLC Has $17.04 Million Holdings in Pool Co. (POOL)” was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://theolympiareport.com/2019/05/24/oak-ridge-investments-llc-has-17-04-million-holdings-in-pool-co-pool.html.
Pool Company Profile
Pool Corp. engages in the wholesale distribution of swimming pool supplies, equipment and related leisure products. It also provides irrigation and landscape products. The company was founded in 1993 and is headquartered in Covington, LA.
Featured Article: Balance Sheet
Want to see what other hedge funds are holding POOL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pool Co. (NASDAQ:POOL).
Receive News & Ratings for Pool Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pool and related companies with MarketBeat.com's FREE daily email newsletter.