Synovus Financial Corp Reduces Position in Pool Co. (NASDAQ:POOL)

Synovus Financial Corp trimmed its holdings in Pool Co. (NASDAQ:POOL) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,773 shares of the specialty retailer’s stock after selling 175 shares during the quarter. Synovus Financial Corp’s holdings in Pool were worth $2,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in POOL. Tidal Investments LLC boosted its stake in Pool by 57.8% during the third quarter. Tidal Investments LLC now owns 6,661 shares of the specialty retailer’s stock worth $2,510,000 after buying an additional 2,441 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Pool during the 3rd quarter worth $60,000. Sanctuary Advisors LLC boosted its position in shares of Pool by 5.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,927 shares of the specialty retailer’s stock valued at $4,738,000 after acquiring an additional 686 shares during the last quarter. Second Line Capital LLC grew its holdings in shares of Pool by 4.8% in the third quarter. Second Line Capital LLC now owns 853 shares of the specialty retailer’s stock valued at $322,000 after purchasing an additional 39 shares during the period. Finally, TD Private Client Wealth LLC increased its position in Pool by 0.8% during the third quarter. TD Private Client Wealth LLC now owns 7,250 shares of the specialty retailer’s stock worth $2,732,000 after purchasing an additional 54 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Pool Stock Performance

NASDAQ POOL opened at $362.95 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.39 and a quick ratio of 0.77. The company has a market cap of $13.81 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.20 and a beta of 1.01. The stock has a 50-day moving average of $367.75 and a two-hundred day moving average of $353.00. Pool Co. has a 1-year low of $293.51 and a 1-year high of $422.73.

Pool (NASDAQ:POOL) last announced its earnings results on Thursday, October 24th. The specialty retailer reported $3.26 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.11. Pool had a net margin of 8.42% and a return on equity of 31.89%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm earned $3.50 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts anticipate that Pool Co. will post 11.02 EPS for the current year.

Pool Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $4.80 dividend on an annualized basis and a yield of 1.32%. Pool’s dividend payout ratio (DPR) is presently 41.31%.

Analyst Upgrades and Downgrades

POOL has been the subject of several analyst reports. Loop Capital increased their price target on shares of Pool from $345.00 to $395.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Stifel Nicolaus increased their price objective on Pool from $335.00 to $340.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. StockNews.com upgraded Pool from a “sell” rating to a “hold” rating in a research report on Saturday, November 2nd. Robert W. Baird increased their price target on Pool from $377.00 to $408.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Finally, Oppenheimer raised their price objective on Pool from $380.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Pool currently has a consensus rating of “Hold” and a consensus price target of $369.25.

Pool Company Profile

Pool Corporation distributes swimming pool supplies, equipment, and related leisure products in the United States and internationally. 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; and building materials, such as concrete, plumbing and electrical components, functional and decorative pool surfaces, decking materials, tiles, hardscapes, and natural stones for pool installations and remodeling.