Cynosure Group LLC Purchases New Shares in Pool Co. (NASDAQ:POOL)

Cynosure Group LLC purchased a new stake in shares of Pool Co. (NASDAQ:POOL) during the first quarter, HoldingsChannel reports. The fund purchased 786 shares of the specialty retailer’s stock, valued at approximately $317,000.

A number of other hedge funds also recently bought and sold shares of the business. HB Wealth Management LLC raised its stake in shares of Pool by 10.1% in the fourth quarter. HB Wealth Management LLC now owns 1,270 shares of the specialty retailer’s stock valued at $506,000 after acquiring an additional 117 shares during the period. Raymond James & Associates grew its holdings in Pool by 2.1% during the 4th quarter. Raymond James & Associates now owns 284,162 shares of the specialty retailer’s stock worth $113,298,000 after acquiring an additional 5,823 shares in the last quarter. CVA Family Office LLC bought a new position in Pool during the 4th quarter worth about $34,000. Raymond James Financial Services Advisors Inc. grew its holdings in Pool by 7.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,224 shares of the specialty retailer’s stock worth $9,260,000 after acquiring an additional 1,667 shares in the last quarter. Finally, Simon Quick Advisors LLC purchased a new stake in shares of Pool during the fourth quarter valued at about $217,000. Hedge funds and other institutional investors own 98.99% of the company’s stock.

Pool Price Performance

Pool stock traded up $4.30 during trading hours on Tuesday, hitting $335.87. The stock had a trading volume of 83,552 shares, compared to its average volume of 363,282. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.88 and a quick ratio of 0.56. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 2.42 and a beta of 1.00. Pool Co. has a 1-year low of $293.51 and a 1-year high of $422.73. The stock’s fifty day moving average is $338.22 and its two-hundred day moving average is $369.32.

Pool (NASDAQ:POOL) last posted its earnings results on Thursday, April 25th. The specialty retailer reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.02). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. Pool had a net margin of 9.17% and a return on equity of 35.49%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. As a group, analysts predict that Pool Co. will post 10.95 earnings per share for the current fiscal year.

Pool Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were paid a dividend of $1.20 per share. The ex-dividend date was Wednesday, May 15th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Pool’s previous quarterly dividend of $1.10. Pool’s dividend payout ratio (DPR) is presently 37.56%.

Analyst Ratings Changes

A number of equities analysts have issued reports on POOL shares. Wells Fargo & Company reduced their price target on shares of Pool from $360.00 to $290.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 25th. Robert W. Baird lowered their target price on shares of Pool from $380.00 to $305.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. Bank of America reduced their price target on Pool from $338.00 to $290.00 and set an “underperform” rating on the stock in a report on Tuesday, June 25th. Loop Capital reduced their price objective on shares of Pool from $370.00 to $305.00 and set a “hold” rating on the stock in a report on Tuesday, June 25th. Finally, Oppenheimer reduced their price objective on shares of Pool from $416.00 to $356.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $321.75.

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.