Ameriprise Financial Inc. Sells 7,456 Shares of Pool Co. (NASDAQ:POOL)

Ameriprise Financial Inc. reduced its holdings in shares of Pool Co. (NASDAQ:POOL) by 24.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,699 shares of the specialty retailer’s stock after selling 7,456 shares during the period. Ameriprise Financial Inc.’s holdings in Pool were worth $7,739,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Pool by 816.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 40,860 shares of the specialty retailer’s stock worth $13,601,000 after purchasing an additional 36,403 shares in the last quarter. L. Roy Papp & Associates LLP bought a new position in shares of Pool in the fourth quarter worth about $653,000. World Equity Group Inc. purchased a new position in shares of Pool during the 4th quarter valued at about $272,000. Landscape Capital Management L.L.C. lifted its position in shares of Pool by 104.0% during the 4th quarter. Landscape Capital Management L.L.C. now owns 3,778 shares of the specialty retailer’s stock valued at $1,288,000 after buying an additional 1,926 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Pool by 28.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 49,056 shares of the specialty retailer’s stock valued at $16,725,000 after acquiring an additional 10,880 shares during the period. 98.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on POOL shares. Stifel Nicolaus set a $300.00 target price on shares of Pool in a research note on Friday, April 25th. StockNews.com downgraded shares of Pool from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Robert W. Baird lowered their target price on shares of Pool from $325.00 to $310.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company set a $300.00 price target on Pool in a research note on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Pool in a research report on Tuesday, April 1st. They issued a “hold” rating and a $344.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $336.22.

Insiders Place Their Bets

In related news, SVP Jennifer M. Neil sold 1,223 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $315.00, for a total value of $385,245.00. Following the completion of the transaction, the senior vice president now owns 9,667 shares of the company’s stock, valued at approximately $3,045,105. This trade represents a 11.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director De La Mesa Manuel J. Perez sold 10,000 shares of Pool stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $346.00, for a total value of $3,460,000.00. Following the completion of the transaction, the director now owns 62,577 shares of the company’s stock, valued at approximately $21,651,642. This represents a 13.78% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Pool Stock Performance

Shares of NASDAQ POOL opened at $302.76 on Thursday. The company has a market cap of $11.38 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.03 and a beta of 1.20. Pool Co. has a 52-week low of $284.28 and a 52-week high of $395.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.77 and a current ratio of 2.05. The firm’s fifty day moving average is $309.51 and its two-hundred day moving average is $337.35.

Pool (NASDAQ:POOL) last issued its earnings results on Thursday, April 24th. The specialty retailer reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.42 by ($0.10). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. Pool had a return on equity of 31.11% and a net margin of 8.18%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.85 earnings per share. As a group, analysts anticipate that Pool Co. will post 11.32 EPS for the current fiscal year.

Pool Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a $1.25 dividend. This is an increase from Pool’s previous quarterly dividend of $1.20. The ex-dividend date is Thursday, May 15th. This represents a $5.00 dividend on an annualized basis and a yield of 1.65%. Pool’s payout ratio is presently 46.90%.

Pool announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 30th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Pool Company Profile

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.