Fayez Sarofim & Co Cuts Stake in Pool Co. (NASDAQ:POOL)

Fayez Sarofim & Co cut its holdings in Pool Co. (NASDAQ:POOL - Free Report) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,096 shares of the specialty retailer's stock after selling 850 shares during the quarter. Fayez Sarofim & Co's holdings in Pool were worth $374,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Pool in the 4th quarter valued at $116,833,000. JPMorgan Chase & Co. boosted its stake in Pool by 22.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,260,313 shares of the specialty retailer's stock valued at $474,886,000 after acquiring an additional 232,914 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Pool by 27.5% in the 4th quarter. Wellington Management Group LLP now owns 1,042,514 shares of the specialty retailer's stock worth $355,435,000 after acquiring an additional 224,674 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Pool by 25.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 636,007 shares of the specialty retailer's stock worth $216,840,000 after purchasing an additional 129,780 shares during the period. Finally, Norges Bank acquired a new stake in Pool during the fourth quarter worth about $36,203,000. Hedge funds and other institutional investors own 98.99% of the company's stock.

Insider Activity at Pool

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on POOL shares. Wells Fargo & Company lowered their target price on Pool from $360.00 to $315.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Pool in a report on Tuesday, April 1st. They issued a "hold" rating and a $344.00 target price on the stock. Finally, StockNews.com lowered shares of Pool from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $360.33.

Pool Price Performance

Shares of NASDAQ POOL opened at $296.56 on Tuesday. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.03 and a beta of 1.13. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.05 and a quick ratio of 0.77. Pool Co. has a fifty-two week low of $284.28 and a fifty-two week high of $395.60. The business has a 50-day moving average of $327.06 and a 200-day moving average of $346.24.

Pool (NASDAQ:POOL - Get Free Report) last announced its earnings results on Thursday, February 20th. The specialty retailer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Pool had a net margin of 8.18% and a return on equity of 31.11%. The business had revenue of $987.48 million during the quarter, compared to the consensus estimate of $961.04 million. As a group, sell-side analysts predict that Pool Co. will post 11.32 earnings per share for the current fiscal year.

Pool Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 12th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Wednesday, March 12th. Pool's payout ratio is 42.55%.

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.

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