Concurrent Investment Advisors LLC Decreases Stake in Pool Co. (NASDAQ:POOL)

Concurrent Investment Advisors LLC lessened its holdings in shares of Pool Co. (NASDAQ:POOL) by 7.4% in the third quarter, Holdings Channel reports. The firm owned 8,627 shares of the specialty retailer’s stock after selling 689 shares during the period. Concurrent Investment Advisors LLC’s holdings in Pool were worth $3,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of POOL. Tortoise Investment Management LLC lifted its stake in shares of Pool by 68.9% during the second quarter. Tortoise Investment Management LLC now owns 103 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 42 shares in the last quarter. Crewe Advisors LLC raised its holdings in shares of Pool by 232.4% during the 2nd quarter. Crewe Advisors LLC now owns 113 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 79 shares during the period. UMB Bank n.a. lifted its position in Pool by 26.2% during the 2nd quarter. UMB Bank n.a. now owns 207 shares of the specialty retailer’s stock worth $64,000 after acquiring an additional 43 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Pool in the 2nd quarter worth approximately $74,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Pool during the second quarter valued at approximately $75,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Wall Street Analyst Weigh In

POOL has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on shares of Pool from $365.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Pool from a “sell” rating to a “hold” rating in a report on Saturday, November 2nd. Wells Fargo & Company lifted their target price on Pool from $330.00 to $370.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Robert W. Baird boosted their price target on Pool from $377.00 to $408.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus increased their price target on Pool from $335.00 to $340.00 and gave the company a “hold” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pool presently has a consensus rating of “Hold” and a consensus price target of $369.11.

Pool Stock Up 0.4 %

POOL stock opened at $370.63 on Thursday. The firm has a fifty day moving average price of $362.00 and a two-hundred day moving average price of $352.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.39 and a quick ratio of 0.77. Pool Co. has a 1-year low of $293.51 and a 1-year high of $422.73. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 2.18 and a beta of 1.01.

Pool (NASDAQ:POOL) last announced its quarterly earnings data on Thursday, October 24th. The specialty retailer reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.11. Pool had a net margin of 8.42% and a return on equity of 31.89%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts predict that Pool Co. will post 11.01 EPS for the current year.

Pool Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, November 13th. Pool’s payout ratio is 41.31%.

About Pool

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. The company offers maintenance products, including chemicals, supplies, and pool accessories; repair and replacement parts for pool equipment, such as cleaners, filters, heaters, pumps, and lights; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.