Congress Asset Management Co. MA Has $74.37 Million Stake in Pool Corporation (POOL)

Congress Asset Management Co. MA boosted its stake in Pool Corporation (NASDAQ:POOL) by 24.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 632,525 shares of the specialty retailer’s stock after buying an additional 122,244 shares during the period. Pool Corporation makes up about 1.3% of Congress Asset Management Co. MA’s portfolio, making the stock its 19th largest position. Congress Asset Management Co. MA owned 1.53% of Pool Corporation worth $74,366,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. McQueen Ball & Associates Inc. raised its stake in Pool Corporation by 0.3% in the first quarter. McQueen Ball & Associates Inc. now owns 15,256 shares of the specialty retailer’s stock valued at $1,821,000 after buying an additional 40 shares during the last quarter. State Treasurer State of Michigan raised its stake in Pool Corporation by 0.6% in the first quarter. State Treasurer State of Michigan now owns 16,700 shares of the specialty retailer’s stock valued at $1,993,000 after buying an additional 100 shares during the last quarter. Atria Investments LLC raised its stake in Pool Corporation by 5.3% in the second quarter. Atria Investments LLC now owns 2,743 shares of the specialty retailer’s stock valued at $322,000 after buying an additional 138 shares during the last quarter. Mason Street Advisors LLC raised its stake in Pool Corporation by 0.8% in the first quarter. Mason Street Advisors LLC now owns 19,443 shares of the specialty retailer’s stock valued at $2,320,000 after buying an additional 149 shares during the last quarter. Finally, Advantus Capital Management Inc raised its stake in Pool Corporation by 3.4% in the first quarter. Advantus Capital Management Inc now owns 5,269 shares of the specialty retailer’s stock valued at $629,000 after buying an additional 174 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Shares of Pool Corporation (POOL) opened at 108.24 on Friday. The firm’s 50-day moving average is $117.56 and its 200-day moving average is $116.34. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 28.14 and a beta of 0.93. Pool Corporation has a one year low of $88.64 and a one 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 EPS for the quarter, missing the Zacks’ consensus estimate of $2.24 by $0.03. The company had revenue of $988.16 million during the quarter. Pool Corporation had a net margin of 6.15% and a return on equity of 63.34%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 earnings per share. Analysts expect that Pool Corporation will post $4.21 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.37%. Pool Corporation’s dividend payout ratio (DPR) is presently 38.74%.

Pool Corporation declared that its Board of Directors has approved a stock buyback program on Wednesday, May 3rd that allows the company to buyback $150.00 million in shares. This buyback authorization allows the specialty retailer to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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Several research firms have recently weighed in on POOL. Zacks Investment Research lowered shares of Pool Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Johnson Rice raised shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a report on Monday, July 24th. BidaskClub lowered shares of Pool Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $128.00 target price on shares of Pool Corporation in a report on Friday, April 7th. Five investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $125.67.

In other Pool Corporation news, CEO De La Mesa Manuel J. Perez sold 12,372 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $122.12, for a total transaction of $1,510,868.64. Following the completion of the transaction, the chief executive officer now owns 51,953 shares of the company’s stock, valued at $6,344,500.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.00% of the stock is owned by insiders.

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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