Highland Capital Management LLC Invests $214,000 in Pool Co. (NASDAQ:POOL)

Highland Capital Management LLC bought a new position in Pool Co. (NASDAQ:POOL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 569 shares of the specialty retailer’s stock, valued at approximately $214,000.

Other institutional investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC lifted its holdings in shares of Pool by 68.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 103 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 42 shares during the last quarter. Crewe Advisors LLC lifted its holdings in shares of Pool by 232.4% in the 2nd quarter. Crewe Advisors LLC now owns 113 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 79 shares during the last quarter. UMB Bank n.a. lifted 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 stake in shares of Pool in the 2nd quarter worth about $74,000. Finally, Summit Securities Group LLC bought a new stake in shares of Pool in the 2nd quarter worth about $75,000. Institutional investors own 98.99% of the company’s stock.

Pool Stock Down 3.0 %

POOL stock opened at $366.00 on Monday. The company has a quick ratio of 0.88, a current ratio of 2.48 and a debt-to-equity ratio of 0.75. Pool Co. has a 52 week low of $293.51 and a 52 week high of $422.73. The firm has a 50 day moving average of $359.72 and a 200 day moving average of $352.87. The stock has a market capitalization of $14.00 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 2.57 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 EPS for the quarter, beating the consensus estimate of $3.15 by $0.11. Pool had a net margin of 8.58% and a return on equity of 32.85%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the business posted $3.50 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that Pool Co. will post 10.98 earnings per share for the current year.

Pool Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, August 15th. Pool’s dividend payout ratio (DPR) is 40.47%.

Wall Street Analyst Weigh In

Several research analysts recently commented on POOL shares. Stifel Nicolaus raised their price target on shares of Pool from $310.00 to $335.00 and gave the stock a “hold” rating in a research note on Friday, August 30th. Wells Fargo & Company raised their price target on shares of Pool from $330.00 to $370.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Robert W. Baird raised their price target on shares of Pool from $377.00 to $408.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of Pool from a “hold” rating to a “sell” rating in a research note on Friday. Finally, The Goldman Sachs Group raised their price target on shares of Pool from $365.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Pool currently has an average rating of “Hold” and an average price target of $367.89.

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.