Pool Co. (NASDAQ:POOL) Shares Sold by Tygh Capital Management Inc.
Tygh Capital Management Inc. cut its stake in Pool Co. (NASDAQ:POOL) by 51.1% in the second quarter, Holdings Channel reports. The firm owned 18,451 shares of the specialty retailer’s stock after selling 19,313 shares during the period. Tygh Capital Management Inc.’s holdings in Pool were worth $3,524,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Pool by 5.9% in the 1st quarter. BlackRock Inc. now owns 3,745,431 shares of the specialty retailer’s stock worth $617,884,000 after purchasing an additional 209,876 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Pool by 0.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,586,751 shares of the specialty retailer’s stock worth $261,768,000 after buying an additional 10,798 shares during the last quarter. Eagle Asset Management Inc. raised its position in Pool by 9.5% during the 1st quarter. Eagle Asset Management Inc. now owns 1,117,071 shares of the specialty retailer’s stock worth $184,283,000 after buying an additional 96,890 shares during the last quarter. Carillon Tower Advisers Inc. raised its position in Pool by 11.2% during the 1st quarter. Carillon Tower Advisers Inc. now owns 735,229 shares of the specialty retailer’s stock worth $121,290,000 after buying an additional 73,807 shares during the last quarter. Finally, Wasatch Advisors Inc. raised its position in Pool by 11.4% during the 1st quarter. Wasatch Advisors Inc. now owns 712,773 shares of the specialty retailer’s stock worth $117,586,000 after buying an additional 72,684 shares during the last quarter. Institutional investors own 93.85% of the company’s stock.
POOL traded up $2.03 during trading on Wednesday, reaching $199.13. 4,416 shares of the company’s stock were exchanged, compared to its average volume of 201,167. Pool Co. has a 1 year low of $136.83 and a 1 year high of $200.00. The company has a debt-to-equity ratio of 2.30, a current ratio of 2.35 and a quick ratio of 0.97. The stock has a market capitalization of $7.78 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.91. The company’s fifty day simple moving average is $191.23 and its 200-day simple moving average is $176.61.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, August 14th. Pool’s dividend payout ratio (DPR) is 39.15%.
Pool declared that its board has authorized a stock repurchase plan on Thursday, May 2nd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the specialty retailer to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
POOL has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Pool from a “sell” rating to a “hold” rating and set a $209.00 price target for the company in a research report on Monday, August 12th. Stephens set a $186.00 price target on shares of Pool and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Robert W. Baird set a $192.00 price target on shares of Pool and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, BidaskClub raised shares of Pool from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $183.00.
In other news, CFO Mark W. Joslin sold 1,429 shares of Pool stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $200.00, for a total transaction of $285,800.00. Following the completion of the transaction, the chief financial officer now directly owns 140,356 shares of the company’s stock, valued at approximately $28,071,200. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Peter D. Arvan bought 300 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $187.93 per share, with a total value of $56,379.00. Following the completion of the acquisition, the chief executive officer now owns 38,733 shares in the company, valued at $7,279,092.69. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 48,958 shares of company stock valued at $9,559,485. Insiders own 6.00% of the company’s stock.
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.
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