Kinsale Capital Group Inc. Purchases 31,071 Shares of Pool Corporation $POOL

Kinsale Capital Group Inc. grew its position in shares of Pool Corporation (NASDAQ:POOL) by 72.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,046 shares of the specialty retailer’s stock after purchasing an additional 31,071 shares during the period. Pool makes up 1.6% of Kinsale Capital Group Inc.’s portfolio, making the stock its 26th biggest holding. Kinsale Capital Group Inc.’s holdings in Pool were worth $11,986,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Pool in the second quarter worth $866,576,000. Bank of New York Mellon Corp bought a new stake in Pool during the second quarter valued at $148,216,000. Southpoint Capital Advisors LP grew its position in Pool by 66.7% during the first quarter. Southpoint Capital Advisors LP now owns 500,000 shares of the specialty retailer’s stock worth $101,165,000 after buying an additional 200,000 shares in the last quarter. Corient Private Wealth LP grew its position in Pool by 59.5% during the second quarter. Corient Private Wealth LP now owns 433,569 shares of the specialty retailer’s stock worth $93,174,000 after buying an additional 161,787 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Pool by 48.0% during the first quarter. Bank of America Corp DE now owns 261,402 shares of the specialty retailer’s stock worth $52,889,000 after buying an additional 84,817 shares in the last quarter. Institutional investors own 98.99% of the company’s stock.

Pool Stock Performance

NASDAQ POOL opened at $221.05 on Tuesday. Pool Corporation has a 52-week low of $152.70 and a 52-week high of $278.17. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.86 and a current ratio of 2.46. The company has a market capitalization of $7.90 billion, a P/E ratio of 20.34, a P/E/G ratio of 3.33 and a beta of 0.93. The company has a fifty day moving average of $178.21 and a 200-day moving average of $201.42.

Pool (NASDAQ:POOL) last announced its earnings results on Thursday, October 22nd. The specialty retailer reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.36 by $0.04. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Pool had a net margin of 7.27% and a return on equity of 33.50%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.39 earnings per share. As a group, equities research analysts predict that Pool Corporation will post 10.95 EPS for the current fiscal year.

Pool Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 11th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, November 10th. Pool’s dividend payout ratio is presently 47.84%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on POOL. Stifel Nicolaus lowered their price target on Pool from $189.00 to $175.00 and set a “hold” rating on the stock in a report on Tuesday, October 20th. Bank of America dropped their price target on Pool from $226.00 to $206.00 and set an “underperform” rating for the company in a research report on Monday, July 20th. Citigroup reissued an “underperform” rating on shares of Pool in a report on Monday, October 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Pool in a research report on Wednesday, November 4th. Finally, Longbow Research cut shares of Pool from a “buy” rating to a “neutral” rating in a research report on Monday, October 19th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $227.70.

Pool Profile

Pool Corporation, doing business as POOL, is a wholesale distributor of swimming pool and related outdoor living products. It supplies pool builders, service companies, retailers and other professionals with products used to construct, maintain, repair and renovate swimming pools.

Its offerings include pool and spa equipment, chemicals, parts, maintenance supplies and accessories, as well as products for outdoor living and, in some markets, irrigation and landscape applications. Pool Corporation distributes these products through a network of sales centers and distribution facilities.

Founded in 1993, the company serves customers across North America, Europe and Australia.