Crestline Management LP Acquires New Stake in Pool Co. (NASDAQ:POOL)

Crestline Management LP bought a new position in Pool Co. (NASDAQ:POOL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,735 shares of the specialty retailer’s stock, valued at approximately $592,000.

A number of other large investors have also made changes to their positions in POOL. Allspring Global Investments Holdings LLC boosted its holdings in shares of Pool by 816.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,860 shares of the specialty retailer’s stock worth $13,601,000 after buying an additional 36,403 shares during the last quarter. L. Roy Papp & Associates LLP purchased a new position in shares of Pool during the 4th quarter worth $653,000. World Equity Group Inc. bought a new stake in shares of Pool during the 4th quarter valued at $272,000. Landscape Capital Management L.L.C. increased its stake in shares of Pool by 104.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 3,778 shares of the specialty retailer’s stock worth $1,288,000 after purchasing an additional 1,926 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Pool by 28.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 49,056 shares of the specialty retailer’s stock worth $16,725,000 after purchasing an additional 10,880 shares during the period. 98.99% of the stock is currently owned by institutional investors.

Insider Activity at Pool

In related news, SVP Jennifer M. Neil sold 1,223 shares of Pool stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $315.00, for a total transaction of $385,245.00. Following the completion of the transaction, the senior vice president now directly owns 9,667 shares of the company’s stock, valued at approximately $3,045,105. The trade was a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director De La Mesa Manuel J. Perez sold 10,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $346.00, for a total transaction of $3,460,000.00. Following the completion of the sale, the director now directly owns 62,577 shares in the company, valued at $21,651,642. This trade represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Pool Price Performance

NASDAQ:POOL opened at $301.92 on Friday. The company has a market capitalization of $11.35 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.03 and a beta of 1.20. The business’s 50-day moving average is $314.28 and its 200 day moving average is $340.10. The company has a current ratio of 2.05, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71. Pool Co. has a 12 month low of $284.28 and a 12 month high of $395.60.

Pool (NASDAQ:POOL) last posted its earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.10). The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Pool had a net margin of 8.18% and a return on equity of 31.11%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $1.85 earnings per share. On average, equities research analysts forecast that Pool Co. will post 11.32 earnings per share for the current fiscal year.

Pool announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 30th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Pool Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.66%. This is a boost from Pool’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Thursday, May 15th. Pool’s dividend payout ratio is currently 46.90%.

Wall Street Analyst Weigh In

POOL has been the subject of a number of analyst reports. StockNews.com cut Pool from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Stifel Nicolaus set a $300.00 target price on shares of Pool in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Pool in a research report on Tuesday, April 1st. They issued a “hold” rating and a $344.00 price target for the company. Oppenheimer decreased their price objective on shares of Pool from $370.00 to $322.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Finally, Wells Fargo & Company set a $300.00 target price on shares of Pool in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Pool presently has a consensus rating of “Hold” and a consensus target price of $336.22.

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.