5 Best Industrial Distribution Stocks to Buy Now

3. Pool Corporation (NASDAQ:POOL)

Number of Hedge Fund Holders: 41

Founded in 1983, Pool Corporation (NASDAQ:POOL) is the world’s largest wholesale distributor of swimming pool and related outdoor living products operating over 420 sales centers in North America, Europe, and Australia.

On April 20, Pool Corporation (NASDAQ:POOL) released its financial results for Q1 2023. It generated a revenue of $1.2 billion, 15% lower than the last year, and a net income of $102 million. On May 4, the Board of Directors of the company declared a quarterly cash dividend of $1.10 per share which represents a 10% increase to the previous quarterly dividend.

Following the earnings release, Deutsche Bank lowered the price target on Pool Corporation (NASDAQ:POOL) shares to $445 from $460 and maintained a ‘Buy’ rating on the shares as the firm believes that the company’s valuation still looks attractive.

As of Q1 2023, Pool Corporation (NASDAQ:POOL) shares were held by 41 hedge funds with a total value of $1.2 billion. Robert Joseph Caruso’s Select Equity Group was its largest hedge fund shareholder with ownership of 1.4 million shares valued at $463 million.