Is Pool Corporation (POOL) a Long-Term Stable Business?
The London Company, an investment management company, released “The London Company Mid Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Q4 saw a remarkable broadening of market strength, with small and mid-cap companies posting robust increases. In Q4, the fund gained 12.9% (12.8, net) vs a 12.8% gain for the Russell Midcap Index. Positive stock selection boosted the fund's outperformance in the quarter, partly offset by headwinds from sector exposure. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Mid Cap Strategy featured stocks such as Pool Corporation (NASDAQ:POOL) in the fourth quarter 2023 investor letter. Headquartered in Covington, Louisiana, Pool Corporation (NASDAQ:POOL) is a swimming pool supplies, equipment, and related leisure products distributor. On February 7, 2024, Pool Corporation (NASDAQ:POOL) stock closed at $380.85 per share. One-month return of Pool Corporation (NASDAQ:POOL) was -1.05%, and its shares gained 1.03% of their value over the last 52 weeks. Pool Corporation (NASDAQ:POOL) has a market capitalization of $14.731 billion.
The London Company Mid Cap Strategy stated the following regarding Pool Corporation (NASDAQ:POOL) in its fourth quarter 2023 investor letter:
"Increased: Pool Corporation (NASDAQ:POOL) - Addition reflects our confidence in the long-term stability of the business. The stock has lagged the broader market over the last two years. POOL maintains strong fundamentals driven by growth in pool spending and outdoor living along with a growing installed base."
Aerial view of a large public swimming pool surrounded by lush green lawn and trees.
Pool Corporation (NASDAQ:POOL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Pool Corporation (NASDAQ:POOL) at the end of third quarter which was 42 in the previous quarter.
We discussed Pool Corporation (NASDAQ:POOL) in another article and shared the list of best dividend growth stocks to buy and hold in 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
