Covea Finance Buys 3,300 Shares of Pool Corporation $POOL

Covea Finance lifted its stake in Pool Corporation (NASDAQ:POOL) by 31.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 13,700 shares of the specialty retailer’s stock after buying an additional 3,300 shares during the quarter. Covea Finance’s holdings in Pool were worth $4,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of POOL. Norden Group LLC raised its stake in Pool by 24.8% during the third quarter. Norden Group LLC now owns 2,173 shares of the specialty retailer’s stock worth $674,000 after acquiring an additional 432 shares in the last quarter. World Investment Advisors bought a new stake in shares of Pool in the 3rd quarter worth about $203,000. Swedbank AB increased its position in shares of Pool by 13.0% during the 3rd quarter. Swedbank AB now owns 138,334 shares of the specialty retailer’s stock worth $42,893,000 after purchasing an additional 15,915 shares in the last quarter. Strong Tower Advisory Services increased its position in shares of Pool by 20.0% during the 3rd quarter. Strong Tower Advisory Services now owns 2,470 shares of the specialty retailer’s stock worth $766,000 after purchasing an additional 412 shares in the last quarter. Finally, True North Advisors LLC bought a new position in Pool during the 3rd quarter valued at about $208,000. Institutional investors own 98.99% of the company’s stock.

Pool Price Performance

Shares of POOL stock opened at $231.06 on Friday. The stock has a 50-day moving average price of $252.15 and a 200 day moving average price of $288.66. The company has a quick ratio of 0.87, a current ratio of 2.57 and a debt-to-equity ratio of 0.76. The firm has a market cap of $8.61 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 4.34 and a beta of 1.23. Pool Corporation has a 12 month low of $228.51 and a 12 month high of $374.74.

Pool (NASDAQ:POOL) last released its earnings results on Thursday, October 23rd. The specialty retailer reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.01. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. Pool had a net margin of 7.77% and a return on equity of 31.40%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.26 EPS. Pool has set its FY 2025 guidance at 10.700-11.200 EPS. Research analysts expect that Pool Corporation will post 11.32 EPS for the current year.

Pool Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $5.00 dividend on an annualized basis and a yield of 2.2%. Pool’s dividend payout ratio (DPR) is presently 45.58%.

Analysts Set New Price Targets

Several brokerages have weighed in on POOL. KeyCorp assumed coverage on shares of Pool in a research note on Tuesday, September 30th. They set a “sector weight” rating on the stock. Guggenheim assumed coverage on Pool in a report on Wednesday, October 8th. They issued a “neutral” rating on the stock. Wells Fargo & Company dropped their price target on Pool from $320.00 to $250.00 and set an “equal weight” rating for the company in a report on Monday, December 15th. The Goldman Sachs Group set a $360.00 price objective on Pool and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Robert W. Baird set a $345.00 target price on Pool in a report on Friday, October 24th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $317.38.

About Pool

Pool Corporation is a leading wholesale distributor of swimming pool supplies, equipment, and related outdoor living products. Headquartered in Covington, Louisiana, the company serves a diverse customer base that includes service professionals, independent retailers, high-volume builders, and national retail chains. Pool Corporation’s extensive branch network enables it to maintain strong local customer relationships while leveraging its scale to source products efficiently from manufacturers around the world.

The company’s product portfolio spans pool and spa chemicals, water treatment equipment, pumps, filters, heaters, automation and control systems, liners, safety covers, and cleaning accessories.