Oregon Public Employees Retirement Fund raised its position in shares of Pool Corporation (NASDAQ:POOL) by 4.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,379 shares of the specialty retailer’s stock after buying an additional 593 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Pool Corporation were worth $1,808,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of POOL. BlackRock Inc. boosted its position in shares of Pool Corporation by 12,429.3% in the first quarter. BlackRock Inc. now owns 3,260,758 shares of the specialty retailer’s stock worth $389,106,000 after buying an additional 3,234,733 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Pool Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 3,172,624 shares of the specialty retailer’s stock worth $378,589,000 after buying an additional 126,641 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Pool Corporation by 8.1% in the first quarter. JPMorgan Chase & Co. now owns 1,991,051 shares of the specialty retailer’s stock worth $237,591,000 after buying an additional 149,808 shares in the last quarter. State Street Corp boosted its position in shares of Pool Corporation by 1.4% in the first quarter. State Street Corp now owns 1,099,499 shares of the specialty retailer’s stock worth $131,204,000 after buying an additional 14,962 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of Pool Corporation by 30.8% in the first quarter. Eagle Asset Management Inc. now owns 1,014,091 shares of the specialty retailer’s stock worth $121,011,000 after buying an additional 239,013 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.
Pool Corporation (NASDAQ:POOL) opened at 107.86 on Wednesday. Pool Corporation has a 12-month low of $88.65 and a 12-month high of $124.26. The company’s 50-day moving average is $115.72 and its 200 day moving average is $116.37. The stock has a market capitalization of $4.45 billion, a PE ratio of 28.04 and a beta of 0.91.
Pool Corporation (NASDAQ:POOL) last released its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.24 by $0.03. The firm had revenue of $988.16 million for the quarter. Pool Corporation had a net margin of 6.15% and a return on equity of 63.34%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.98 EPS. On average, equities research analysts expect that Pool Corporation will post $4.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Monday, August 7th. Pool Corporation’s payout ratio is presently 38.74%.
Pool Corporation announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 3rd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
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POOL has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Pool Corporation from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a report on Friday, June 16th. BidaskClub cut shares of Pool Corporation from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Johnson Rice upgraded shares of Pool Corporation from an “accumulate” rating to a “buy” rating in a report on Monday, July 24th. Five equities research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $125.67.
About Pool Corporation
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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