Pool Co. (NASDAQ:POOL) to Issue $0.55 Quarterly Dividend

Pool Co. (NASDAQ:POOL) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.55 per share by the specialty retailer on Thursday, August 29th. This represents a $2.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, August 14th.

Pool has increased its dividend by an average of 19.8% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Pool has a dividend payout ratio of 39.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pool to earn $6.69 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 32.9%.

Shares of NASDAQ POOL opened at $195.05 on Tuesday. The company has a current ratio of 2.35, a quick ratio of 0.97 and a debt-to-equity ratio of 2.30. The firm has a fifty day moving average price of $190.02. Pool has a one year low of $136.83 and a one year high of $200.00. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91.

Pool (NASDAQ:POOL) last issued its quarterly earnings data on Thursday, July 18th. The specialty retailer reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.01. Pool had a return on equity of 82.89% and a net margin of 8.14%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm posted $2.80 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts expect that Pool will post 5.81 EPS for the current year.

In other news, Director Robert C. Sledd sold 8,696 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $199.09, for a total transaction of $1,731,286.64. Following the completion of the sale, the director now directly owns 26,837 shares in the company, valued at approximately $5,342,978.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman De La Mesa Manuel J. Perez sold 14,263 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $193.96, for a total value of $2,766,451.48. Following the sale, the insider now owns 69,702 shares of the company’s stock, valued at $13,519,399.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,355 shares of company stock valued at $10,045,773. Corporate insiders own 6.00% of the company’s stock.

Pool announced that its board has authorized a share repurchase plan on Thursday, May 2nd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the specialty retailer to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

POOL has been the subject of a number of recent analyst reports. BidaskClub upgraded Pool from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Robert W. Baird set a $192.00 target price on Pool and gave the company a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research upgraded Pool from a “sell” rating to a “hold” rating and set a $209.00 target price for the company in a research report on Monday. Finally, Stephens set a $186.00 target price on Pool and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $183.00.

About Pool

Pool Corp. engages in the wholesale distribution of swimming pool supplies, equipment and related leisure products. It also provides irrigation and landscape products. The company was founded in 1993 and is headquartered in Covington, LA.

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Dividend History for Pool (NASDAQ:POOL)

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