Except for maybe cookies, no one likes cookie cutter anything, especially when it comes to our homes. Custom designed is the name of the game. We all want to commission our projects to a particular specification that reflects our personalities and lifestyle, so why would building a pool be any different?

LaPensee Plumbing & Pools has been servicing its customers on Anna Maria Island for almost 30 years. Its grown from a small family business to a big family business with 36 employees still headed up by Karen LaPensee and her son, Greg. But they’re not willing to sit on their laurels. They’re in the business of building their business, and now they’re also building swimming pools.

In 2007 LaPensee added a successful pool service division offering maintenance services, repairs and rehabs to both residential and commercial customers. Tom Sanger, the commercial pool contractor for the LaPensee Pool Division, helped build this business from four employees to today’s 14. He has a commercial pool contracting license from the state of Florida, which is the top ranking license in the state for pool work. In fact, at one time he was the youngest person in the state to hold this level license.

In January, the LaPensee Pool Division added pool construction to its long list of pool services making it a true full service pool division. Sanger says his goal is to design pools, not just install pools, with an eye to making them function and making them last. He says he builds pools for the yard the client has and doesn’t try and fit an off the shelf pool into space that won’t accommodate it.

Sanger works with a sophisticated software program to design a custom pool for your needs providing you with choices of tile and finishes. And if you’re into automation, you can activate your pool lights, cleaners, pumps and heaters from your iPhone. In addition, a variable frequency drive (VFD) allows you to program the pool pump so that it throttles back adjusting the pump speed based on your family’s usage. Since the electricity required for a pool pump is one the biggest users of power next to your air conditioner, a VFD can save you a lot on your electric bill.

LaPensee Pools is the authorized dealer and warranty provider for Pentair pool equipment one, of the most energy efficient manufacturers of pool pumps. Karen pointed out that Pentair pumps last up to 10 years, almost twice as long as other pool pumps. In addition, Sanger’s preferred pool finish is Pebble Tec, which wears better than other finishes and offers a more solid dense surface that is resistant to staining.

LaPensee Plumbing & Pools has had a quick start up to their pool construction division with many residential pools in the works since January. In addition, its residential service and repairs are growing as well as its commercial customers. It has done work with Sarasota County, many condo complexes and sub-divisions updating and redoing pools as large as Olympic size.

And let’s not forget that LaPensee has a full menu of plumbing services, including the only 24-hour emergency water truck on the Island, installation of tankless water heaters and irrigation. One of its newest lines is digital shower controls activated with a touch pad manufactured by Kohler and Moen.

LaPensee Plumbing & Pools wants all its customers to be happy, and Sanger, in particular, wants his pool customers to be happy. He thinks they will be with the quality of workmanship provided and LaPensee’s commitment to stand behind its work.

There’s nothing cookie cutter about a company that’s been in business as long as LaPensee Plumbing & Pools, and the newest addition to their its of services is no exception. Make your yard happy. Buy it a pool designed for its unique size and shape, just like a well designed suit.

LaPensee Plumbing & Pools

401 Manatee Avenue
Holmes Beach
941-778-5622
www.lapenseeplumbing.com

Monday – Friday
8 a.m. to 4:30 p.m.
Weekends By appointment

American Express, MasterCard, Visa & Discover Cards accepted

 

The argument of whether U.S. equity prices are cheap, fairly valued or expensive relative to historic valuation measures is being waged in the media on a daily basis. One theory that cannot be easily refuted is the idea that companies which raise their dividend frequently and aggressively are much more reasonably valued than the companies which sport higher, but more stagnant dividend yields.

The stock market can be divided for purposes of analysis many ways. Large companies vs. small, dividend paying stocks vs. non-dividend paying stocks, and as indicated above, rising dividend companies vs. stagnant dividend payers.

It is pretty obvious that U.S. stocks are no longer cheap after a five year bull market from 2009 to 2014. However, we don’t believe stocks are over-priced when compared to still very low bond yields and given the improving economy, which should allow profits to continue to expand for the foreseeable future.

Recent data comparing the average price to earnings (PE) ratios of companies that are the most aggressive at raising their dividends are lower than the PE ratios of the companies which have higher, but more stagnant dividend payouts. This is a result of the ultra low interest rate environment we have been in for several years and investors being attracted to the stocks that pay the highest dividend yields as they clamor for more income. This attention from investors has resulted in one of the widest valuation differences between rising dividend and high yield dividend companies in the last 60 years, with rising dividend companies now being the better value in my opinion.

What does this mean for investors? The first thing we need to acknowledge is that one group of stocks being cheaper than another does not mean that stocks can’t go down in price. Bear markets will occur and affect stocks of all types. I expect that high quality, rising dividend companies may fare better in the next bear market than stagnant dividend companies, but we cannot guarantee that result.

I think the important message for investors is that there is more risk in reaching for yield by purchasing the highest yielding companies, which may not offer as much underlying growth of the companies business. In other words, it might be better to buy a company yielding 2.5 percent today, with a dividend growing at 15 percent per year than to buy a stock yielding 5 percent, but not increasing year to year. Yes, you will sacrifice some current yield in the short-term, but eventually have a higher yield due to the rising dividend income and also the potential for capital appreciation.

In summary, those reaching for the highest current yield may suffer more in the next bear market (when it arrives) than those willing to accept a lower yield now with the prospect of higher future income and superior price appreciation potential.

Tom Breiter is president of Breiter Capital Management, Inc., an Anna Maria based investment advisor. He can be reached at 778-1900. Some of the investment concepts highlighted in this column may carry the risk of loss of principal, and investors should determine appropriateness for their personal situation before investing. Visit www.breitercapital.com.