Principal Financial Group Inc. Decreases Stock Holdings in Pool Corporation $POOL

Principal Financial Group Inc. reduced its stake in shares of Pool Corporation (NASDAQ:POOL) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,332 shares of the specialty retailer’s stock after selling 7,431 shares during the period. Principal Financial Group Inc.’s holdings in Pool were worth $12,816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc boosted its stake in Pool by 136.3% during the second quarter. Berkshire Hathaway Inc now owns 3,458,885 shares of the specialty retailer’s stock worth $1,008,196,000 after buying an additional 1,994,885 shares during the last quarter. Norges Bank acquired a new position in shares of Pool during the 2nd quarter valued at about $113,617,000. Worldquant Millennium Advisors LLC grew its holdings in shares of Pool by 1,301.7% in the second quarter. Worldquant Millennium Advisors LLC now owns 194,880 shares of the specialty retailer’s stock valued at $56,804,000 after purchasing an additional 180,977 shares during the period. Massachusetts Financial Services Co. MA increased its position in Pool by 35.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 616,041 shares of the specialty retailer’s stock worth $179,564,000 after purchasing an additional 160,878 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Pool by 1,201.2% during the second quarter. SG Americas Securities LLC now owns 90,211 shares of the specialty retailer’s stock worth $26,295,000 after purchasing an additional 83,278 shares during the last quarter. Institutional investors and hedge funds own 98.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on POOL. Stifel Nicolaus dropped their price target on shares of Pool from $295.00 to $240.00 and set a “hold” rating for the company in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Pool in a research report on Monday, December 29th. The Goldman Sachs Group cut their target price on Pool from $360.00 to $310.00 and set a “buy” rating for the company in a research note on Tuesday, January 13th. Cfra raised Pool from a “hold” rating to a “buy” rating and set a $304.00 price target on the stock in a research note on Monday, December 22nd. Finally, Robert W. Baird set a $320.00 price target on Pool and gave the stock an “outperform” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $308.00.

Pool Stock Up 1.8%

Shares of NASDAQ POOL opened at $267.33 on Wednesday. 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 business’s 50 day moving average is $247.58 and its two-hundred day moving average is $277.66. Pool Corporation has a 52-week low of $226.10 and a 52-week high of $374.74. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 4.62 and a beta of 1.22.

Pool Profile

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.