37,621,201 Shares in Everpure, Inc. $P Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System bought 37.6 million shares valued at approximately $2.96 billion, giving it an estimated 11.32% stake. Institutional investors collectively owned 83.42% of the stock.
• Everpure reported quarterly EPS of $0.70, beating the $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $129.10.
• Insiders sold 717,520 shares worth about $70.2 million over the past quarter, while the stock opened at $94.13 after a reported 3.0% decline. The article’s company profile also states that Everpure is a Pentair-owned brand rather than a separately listed company trading under NYSE ticker P.

California State Teachers Retirement System purchased a new stake in Everpure, Inc. (NYSE:P - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,621,201 shares of the company's stock, valued at approximately $2,964,174,000. California State Teachers Retirement System owned approximately 11.32% of Everpure at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. One Capital Management LLC grew its stake in shares of Everpure by 1.0% in the 3rd quarter. One Capital Management LLC now owns 14,750 shares of the company's stock valued at $1,236,000 after buying an additional 141 shares during the period. Rothschild Investment LLC increased its position in Everpure by 18.1% in the 4th quarter. Rothschild Investment LLC now owns 993 shares of the company's stock valued at $67,000 after buying an additional 152 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in Everpure by 50.3% during the 4th quarter. Transamerica Financial Advisors LLC now owns 508 shares of the company's stock worth $34,000 after buying an additional 170 shares during the period. National Bank of Canada FI raised its stake in Everpure by 8.6% during the 3rd quarter. National Bank of Canada FI now owns 2,334 shares of the company's stock worth $196,000 after buying an additional 184 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Everpure by 8.5% in the fourth quarter. Larson Financial Group LLC now owns 2,420 shares of the company's stock worth $162,000 after acquiring an additional 190 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Activity

In other news, insider Ajay Singh sold 9,787 shares of the company's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total value of $764,560.44. Following the completion of the sale, the insider owned 340,939 shares in the company, valued at $26,634,154.68. This represents a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan J.S. Taylor sold 8,543 shares of the company's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $81.74, for a total transaction of $698,304.82. Following the completion of the sale, the director owned 94,608 shares of the company's stock, valued at approximately $7,733,257.92. The trade was a 8.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 717,520 shares of company stock valued at $70,172,896 over the last quarter. 5.10% of the stock is owned by insiders.

Everpure Stock Down 3.0%

P stock opened at $94.13 on Friday. The company has a market capitalization of $31.29 billion, a price-to-earnings ratio of 128.95, a PEG ratio of 3.90 and a beta of 1.43. Everpure, Inc. has a twelve month low of $56.78 and a twelve month high of $119.10. The firm has a 50 day moving average of $89.67.

Everpure (NYSE:P - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.51. The business had revenue of $1.19 billion during the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The company's quarterly revenue was up 37.7% compared to the same quarter last year. On average, research analysts expect that Everpure, Inc. will post 0.96 EPS for the current year.

Analyst Upgrades and Downgrades

P has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Everpure from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Needham & Company LLC upped their target price on Everpure from $100.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. William Blair reiterated an "outperform" rating on shares of Everpure in a report on Thursday, May 28th. Evercore reissued an "outperform" rating and issued a $130.00 price target on shares of Everpure in a research report on Monday, August 24th. Finally, Wells Fargo & Company boosted their price target on shares of Everpure from $97.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $129.10.

Everpure Company Profile

Everpure is a water-treatment and filtration brand owned by Pentair plc, rather than a separately listed company trading under the NYSE symbol P. The brand provides filtration and water-conditioning solutions for residential, commercial, foodservice, and beverage applications.

Its product portfolio includes water filters, cartridges, heads, manifolds, reverse-osmosis systems, scale-reduction products, and related treatment equipment. Everpure systems are used to improve water quality and help protect equipment in applications such as drinking-water dispensers, coffee and tea equipment, ice machines, restaurants, and other foodservice operations.

Everpure was established in 1933 and serves customers through Pentair's global water-solutions business.

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