MAI Capital Management Trims Holdings in Pool Co. (POOL)

MAI Capital Management cut its position in Pool Co. (NASDAQ:POOL) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,395 shares of the specialty retailer’s stock after selling 400 shares during the quarter. MAI Capital Management’s holdings in Pool were worth $890,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of POOL. Vanguard Group Inc lifted its stake in Pool by 1.7% during the third quarter. Vanguard Group Inc now owns 3,392,184 shares of the specialty retailer’s stock valued at $566,088,000 after purchasing an additional 57,784 shares during the last quarter. Vanguard Group Inc. lifted its stake in Pool by 1.7% during the third quarter. Vanguard Group Inc. now owns 3,392,184 shares of the specialty retailer’s stock valued at $566,088,000 after purchasing an additional 57,784 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Pool by 3.6% during the third quarter. JPMorgan Chase & Co. now owns 2,183,091 shares of the specialty retailer’s stock valued at $364,314,000 after purchasing an additional 76,594 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in Pool by 1.6% during the fourth quarter. Eagle Asset Management Inc. now owns 1,020,181 shares of the specialty retailer’s stock valued at $151,649,000 after purchasing an additional 16,544 shares during the last quarter. Finally, Atlanta Capital Management Co. L L C lifted its stake in Pool by 18.8% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 912,826 shares of the specialty retailer’s stock valued at $135,692,000 after purchasing an additional 144,724 shares during the last quarter. Hedge funds and other institutional investors own 95.50% of the company’s stock.

Several analysts recently commented on POOL shares. BidaskClub raised shares of Pool from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 7th. Robert W. Baird raised shares of Pool from a “neutral” rating to an “outperform” rating and increased their target price for the company from $160.00 to $177.00 in a research note on Friday, February 22nd. Zacks Investment Research raised shares of Pool from a “hold” rating to a “buy” rating and set a $191.00 target price for the company in a research note on Tuesday, April 16th. ValuEngine raised shares of Pool from a “hold” rating to a “buy” rating in a research note on Wednesday, February 27th. Finally, Stephens set a $186.00 target price on shares of Pool and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $171.20.

Shares of POOL stock traded down $0.67 during trading hours on Wednesday, reaching $183.21. 163,039 shares of the stock traded hands, compared to its average volume of 225,370. Pool Co. has a 1-year low of $136.83 and a 1-year high of $186.50. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.96 and a quick ratio of 0.60. The firm has a market capitalization of $7.28 billion, a P/E ratio of 32.60, a P/E/G ratio of 1.29 and a beta of 0.95.

Pool (NASDAQ:POOL) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.05). Pool had a net margin of 7.83% and a return on equity of 79.99%. The firm had revenue of $597.50 million for the quarter, compared to analyst estimates of $608.36 million. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts predict that Pool Co. will post 6.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.55 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Pool’s previous quarterly dividend of $0.45. Pool’s payout ratio is currently 39.15%.

Pool declared that its board has authorized a stock buyback plan on Thursday, May 2nd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

In other Pool news, VP Arthur D. Cook sold 1,900 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $158.37, for a total value of $300,903.00. Following the transaction, the vice president now owns 77,492 shares in the company, valued at approximately $12,272,408.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Harlan F. Seymour sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $181.09, for a total transaction of $1,448,720.00. Following the completion of the transaction, the director now owns 8,861 shares in the company, valued at approximately $1,604,638.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 291,831 shares of company stock worth $50,033,557. Company insiders own 6.00% of the company’s stock.

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About Pool

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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