Principal Financial Group Inc. Sells 6,731 Shares of Pool Co. (NASDAQ:POOL)

Principal Financial Group Inc. lessened its stake in Pool Co. (NASDAQ:POOL - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,693 shares of the specialty retailer's stock after selling 6,731 shares during the period. Principal Financial Group Inc. owned about 0.22% of Pool worth $31,912,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. WoodTrust Financial Corp increased its holdings in Pool by 7.8% in the 3rd quarter. WoodTrust Financial Corp now owns 3,475 shares of the specialty retailer's stock valued at $1,310,000 after purchasing an additional 250 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new position in Pool in the 3rd quarter valued at approximately $228,000. Marks Group Wealth Management Inc boosted its position in Pool by 8.1% in the 3rd quarter. Marks Group Wealth Management Inc now owns 6,086 shares of the specialty retailer's stock valued at $2,293,000 after buying an additional 458 shares during the period. QRG Capital Management Inc. purchased a new position in Pool in the 3rd quarter valued at approximately $248,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in Pool by 4.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 3,242 shares of the specialty retailer's stock valued at $1,222,000 after acquiring an additional 130 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

Pool Stock Performance

POOL traded down $18.49 during trading on Tuesday, reaching $356.50. 381,407 shares of the company's stock were exchanged, compared to its average volume of 346,264. Pool Co. has a fifty-two week low of $293.51 and a fifty-two week high of $422.73. The company has a quick ratio of 0.77, a current ratio of 2.39 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $363.30 and a 200 day moving average price of $352.59. The company has a market capitalization of $13.57 billion, a P/E ratio of 32.27, a PEG ratio of 2.26 and a beta of 1.01.

Pool (NASDAQ:POOL - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The specialty retailer reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.11. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Pool had a net margin of 8.42% and a return on equity of 31.89%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.50 EPS. As a group, analysts predict that Pool Co. will post 11 earnings per share for the current fiscal year.

Pool Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $1.20 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.35%. Pool's dividend payout ratio (DPR) is presently 41.31%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Pool from $330.00 to $370.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Loop Capital upped their price target on shares of Pool from $345.00 to $395.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Stifel Nicolaus raised their price target on shares of Pool from $335.00 to $340.00 and gave the company a "hold" rating in a report on Monday, October 28th. Oppenheimer raised their price target on shares of Pool from $380.00 to $386.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group raised 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. 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 stock. According to data from MarketBeat.com, Pool has a consensus rating of "Hold" and a consensus target price of $369.11.

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.