Tortoise Investment Management LLC Acquires 42 Shares of Pool Co. (NASDAQ:POOL)

Tortoise Investment Management LLC grew its stake in shares of Pool Co. (NASDAQ:POOL) by 68.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103 shares of the specialty retailer’s stock after purchasing an additional 42 shares during the period. Tortoise Investment Management LLC’s holdings in Pool were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Crewe Advisors LLC boosted its holdings in Pool by 232.4% in the second quarter. Crewe Advisors LLC now owns 113 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 79 shares in the last quarter. VisionPoint Advisory Group LLC increased its position in shares of Pool by 11,800.0% during the fourth quarter. VisionPoint Advisory Group LLC now owns 119 shares of the specialty retailer’s stock worth $47,000 after acquiring an additional 118 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Pool by 26.2% in 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 during the last quarter. Ridgewood Investments LLC bought a new position in Pool in the 2nd quarter valued at about $74,000. Finally, Summit Securities Group LLC bought a new stake in Pool during the 2nd quarter worth approximately $75,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Pool Price Performance

POOL opened at $344.53 on Thursday. The company has a current ratio of 2.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $13.18 billion, a P/E ratio of 26.96, a PEG ratio of 2.58 and a beta of 1.00. The stock has a 50-day moving average price of $338.44 and a 200-day moving average price of $362.63. Pool Co. has a 12-month low of $293.51 and a 12-month high of $422.73.

Pool (NASDAQ:POOL) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $4.99 EPS for the quarter, topping the consensus estimate of $4.90 by $0.09. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.74 billion. Pool had a net margin of 8.58% and a return on equity of 32.85%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $5.89 earnings per share. Equities analysts predict that Pool Co. will post 10.98 earnings per share for the current fiscal year.

Pool Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, August 15th. Pool’s dividend payout ratio (DPR) is presently 37.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Loop Capital dropped their target price on Pool from $370.00 to $305.00 and set a “hold” rating on the stock in a report on Tuesday, June 25th. The Goldman Sachs Group boosted their price objective on Pool from $365.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Stifel Nicolaus boosted their price target on shares of Pool from $310.00 to $335.00 and gave the stock a “hold” rating in a report on Friday, August 30th. Bank of America lowered their price target on shares of Pool from $338.00 to $290.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Finally, Wells Fargo & Company raised their target price on Pool from $285.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Pool currently has an average rating of “Hold” and an average target price of $350.00.

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.