Pool Co. (NASDAQ:POOL) Declares Quarterly Dividend of $0.55

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 (NASDAQ:POOL) last released its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.05). The company had revenue of $597.50 million during the quarter, compared to the consensus estimate of $608.36 million. Pool had a net margin of 7.83% and a return on equity of 79.99%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. On average, equities research analysts predict that Pool will post 6.07 EPS for the current year.

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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About Pool

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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Dividend History for Pool (NASDAQ:POOL)

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