Edgestream Partners L.P. Lowers Holdings in Pool Co. (NASDAQ:POOL)

Edgestream Partners L.P. trimmed its holdings in Pool Co. (NASDAQ:POOL) by 35.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 11,563 shares of the specialty retailer’s stock after selling 6,330 shares during the period. Edgestream Partners L.P.’s holdings in Pool were worth $3,554,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Taylor Frigon Capital Management LLC grew its position in Pool by 0.8% in the second quarter. Taylor Frigon Capital Management LLC now owns 3,544 shares of the specialty retailer’s stock worth $1,089,000 after acquiring an additional 28 shares during the period. Wedmont Private Capital boosted its position in shares of Pool by 5.4% during the first quarter. Wedmont Private Capital now owns 590 shares of the specialty retailer’s stock worth $236,000 after buying an additional 30 shares during the period. Czech National Bank boosted its position in shares of Pool by 0.4% during the first quarter. Czech National Bank now owns 6,805 shares of the specialty retailer’s stock worth $2,746,000 after buying an additional 30 shares during the period. TIAA Trust National Association boosted its position in shares of Pool by 4.2% during the first quarter. TIAA Trust National Association now owns 747 shares of the specialty retailer’s stock worth $301,000 after buying an additional 30 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in shares of Pool by 1.2% during the fourth quarter. Great Lakes Advisors LLC now owns 2,724 shares of the specialty retailer’s stock worth $1,086,000 after buying an additional 31 shares during the period. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

Pool Stock Up 3.7 %

Pool stock opened at $371.86 on Wednesday. Pool Co. has a 1-year low of $293.51 and a 1-year high of $422.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.48 and a quick ratio of 0.88. The stock has a market cap of $14.25 billion, a PE ratio of 29.10, a P/E/G ratio of 2.54 and a beta of 1.00. The stock’s fifty day moving average is $347.01 and its two-hundred day moving average is $359.93.

Pool (NASDAQ:POOL) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $4.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.90 by $0.09. Pool had a return on equity of 32.85% and a net margin of 8.58%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned $5.89 earnings per share. Pool’s quarterly revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts expect that Pool Co. will post 10.99 EPS for the current fiscal year.

Pool Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, August 15th. Pool’s dividend payout ratio is presently 37.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on POOL shares. Stephens lowered their price target on Pool from $425.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, June 25th. StockNews.com lowered Pool from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their price target on Pool from $365.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their target price on Pool from $285.00 to $330.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, Bank of America decreased their target price on Pool from $338.00 to $290.00 and set an “underperform” rating for the company in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $350.00.

Pool 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.