Pool Co. (NASDAQ:POOL) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.55 per share by the specialty retailer on Friday, May 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Pool’s previous quarterly dividend of $0.45.
Pool has increased its dividend by an average of 19.8% annually over the last three years and has raised its dividend every year for the last 8 years. Pool has a payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pool to earn $6.88 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 32.0%.
NASDAQ POOL opened at $184.28 on Friday. The stock has a market capitalization of $7.24 billion, a P/E ratio of 32.79, a P/E/G ratio of 1.28 and a beta of 0.95. The company has a quick ratio of 0.60, a current ratio of 1.96 and a debt-to-equity ratio of 3.01. Pool has a 12 month low of $136.83 and a 12 month high of $186.50.
Pool announced that its board has approved a share repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the specialty retailer to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
In other Pool news, Vice Chairman De La Mesa Manuel J. Perez sold 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.01, for a total value of $1,860,100.00. Following the completion of the transaction, the insider now directly owns 69,702 shares of the company’s stock, valued at $12,965,269.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Romain Kenneth G. St sold 36,806 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $185.15, for a total value of $6,814,630.90. Following the completion of the transaction, the insider now directly owns 131,960 shares of the company’s stock, valued at $24,432,394. The disclosure for this sale can be found here. Over the last three months, insiders sold 277,731 shares of company stock valued at $47,431,537. Insiders own 6.00% of the company’s stock.
POOL has been the subject of a number of recent analyst reports. BidaskClub upgraded Pool from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 7th. Robert W. Baird upgraded Pool from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $160.00 to $177.00 in a report on Friday, February 22nd. Zacks Investment Research upgraded Pool from a “hold” rating to a “buy” rating and set a $191.00 price objective for the company in a report on Tuesday, April 16th. ValuEngine raised Pool from a “hold” rating to a “buy” rating in a research note on Wednesday, February 27th. Finally, Stephens set a $186.00 target price on Pool and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $171.20.
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Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in North America, Europe, South America, and Australia. 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; packaged pool kits comprising walls, liners, braces, and coping for in-ground and above-ground pools; pool equipment and components for new pool construction and the remodeling of existing pools; and irrigation and landscape products consisting of irrigation system components, and professional lawn care equipment and supplies.
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