Highland Capital Management LP reduced its stake in shares of Pool Co. (NASDAQ:POOL) by 96.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the specialty retailer’s stock after selling 50,200 shares during the quarter. Highland Capital Management LP’s holdings in Pool were worth $303,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of POOL. NumerixS Investment Technologies Inc raised its stake in Pool by 57.1% in the second quarter. NumerixS Investment Technologies Inc now owns 1,100 shares of the specialty retailer’s stock valued at $167,000 after buying an additional 400 shares during the last quarter. Northwest Bancshares Inc. purchased a new stake in Pool in the first quarter valued at about $209,000. Natixis purchased a new stake in Pool in the second quarter valued at about $211,000. Claraphi Advisory Network LLC purchased a new stake in Pool in the first quarter valued at about $228,000. Finally, GAM Holding AG purchased a new stake in Pool in the second quarter valued at about $255,000. Hedge funds and other institutional investors own 93.97% of the company’s stock.
A number of equities research analysts have commented on POOL shares. BidaskClub upgraded Pool from a “hold” rating to a “buy” rating in a research note on Wednesday, June 13th. ValuEngine upgraded Pool from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. Berenberg Bank started coverage on Pool in a research note on Wednesday, June 20th. They issued a “hold” rating and a $157.00 price target for the company. Robert W. Baird cut Pool from an “outperform” rating to a “neutral” rating and set a $131.00 price target for the company. in a research note on Tuesday, July 3rd. Finally, Zacks Investment Research cut Pool from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $154.25.
In related news, CEO De La Mesa Manuel J. Perez sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $161.52, for a total transaction of $6,460,800.00. Following the sale, the chief executive officer now directly owns 60,258 shares of the company’s stock, valued at $9,732,872.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Arthur D. Cook sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $161.00, for a total value of $322,000.00. Following the sale, the insider now directly owns 55,357 shares in the company, valued at $8,912,477. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,766 shares of company stock valued at $11,473,167. Company insiders own 6.00% of the company’s stock.
Shares of NASDAQ:POOL traded down $1.29 during trading on Friday, hitting $155.76. The stock had a trading volume of 337,271 shares, compared to its average volume of 210,698. Pool Co. has a 12-month low of $109.56 and a 12-month high of $175.87. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 39.04 and a beta of 0.84. The company has a quick ratio of 1.15, a current ratio of 2.64 and a debt-to-equity ratio of 2.03.
Pool (NASDAQ:POOL) last announced its quarterly earnings data on Thursday, July 19th. The specialty retailer reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.08). Pool had a return on equity of 82.52% and a net margin of 7.69%. The firm had revenue of $1.06 billion during the quarter. During the same period last year, the firm posted $2.21 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Pool Co. will post 5.54 EPS for the current fiscal year.
Pool Company Profile
Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in North America, Europe, South America, and Australia. 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; packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and landscape products consisting of irrigation system components, and professional lawn care equipment and supplies.
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