Jennifer Neil, General Counsel and Secretary at Pool Corp (NASDAQ:POOL), recently sold 687 shares of the company's common stock. The shares were sold at a weighted average price of $373, generating a total of approximately $256,251. Following this transaction, Neil retains ownership of 7,961 shares in the company. The sale was executed on November 7, 2024, as per the latest SEC filing.
In other recent news, Pool Corporation, the largest wholesale distributor of swimming pool and related backyard products, declared a quarterly cash dividend of $1.20 per share. The company also reported third-quarter financial results with an adjusted earnings per share (EPS) of $3.27, surpassing analyst estimates, and revenue of $1.433 billion. Despite a decrease in new pool construction, the company saw growth in maintenance-related sales. Pool Corporation confirmed its full-year 2024 EPS guidance range of $11.06 to $11.46.
Following these results, Oppenheimer revised Pool Corp's price target to $386, while maintaining an Outperform rating. Loop Capital adjusted its price target to $395, and BofA Securities raised its price target to $335, both firms acknowledging the company's resilience amidst economic challenges. These recent developments reflect the broader economic trends impacting consumer spending and construction activity.
InvestingPro Insights
Pool Corporation's recent insider sale by Jennifer Neil comes at a time when the company's stock is trading at a relatively high valuation. According to InvestingPro data, Pool Corp has a P/E ratio of 31.97, which indicates that the stock is trading at a premium compared to many of its peers. This high valuation is further supported by InvestingPro Tips, which note that the company is trading at a high earnings multiple and a high Price / Book multiple of 9.9.
Despite the high valuation, Pool Corp has demonstrated strong financial performance and shareholder-friendly policies. An InvestingPro Tip highlights that the company has raised its dividend for 14 consecutive years, with a current dividend yield of 1.29%. This commitment to increasing shareholder returns is complemented by the company's profitability, as another InvestingPro Tip confirms that Pool Corp has been profitable over the last twelve months.
The company's financial health appears robust, with InvestingPro data showing a market capitalization of $14.18 billion and revenue of $5.33 billion over the last twelve months. However, investors should note that revenue growth has slowed, with a -5.47% decline in the same period.
For those interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for Pool Corp, providing deeper insights into the company's financial position and market performance.
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