39,155 Shares in Everpure, Inc. $P Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP purchased 39,155 shares of Everpure, valued at approximately $3.1 million. Several other institutions also initiated positions, and institutional investors now own 83.42% of the company.
• Insiders have been selling shares: executives and directors sold 812,785 shares worth about $79.3 million over the past three months, including notable sales by Ajay Singh and Susan J.S. Taylor.
• Everpure reported quarterly EPS of $0.70, beating estimates by $0.51, 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, versus a share price of $104.10.

Corient Private Wealth LP purchased a new stake in Everpure, Inc. (NYSE:P - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 39,155 shares of the company's stock, valued at approximately $3,085,000.

Several other hedge funds have also recently added to or reduced their stakes in P. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Everpure during the second quarter worth $7,609,000. Greenland Capital Management LP bought a new position in shares of Everpure in the second quarter valued at approximately $604,000. Ameritas Advisory Services LLC purchased a new position in shares of Everpure during the second quarter valued at approximately $476,000. Wedmont Private Capital purchased a new position in shares of Everpure during the second quarter valued at approximately $531,000. Finally, HB Wealth Management LLC purchased a new stake in shares of Everpure in the second quarter valued at about $1,019,000. Institutional investors own 83.42% of the company's stock.

Insider Buying and Selling at Everpure

In related news, insider Ajay Singh sold 9,787 shares of the stock in a transaction dated 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 transaction, the insider directly owned 340,939 shares of the company's stock, valued at $26,634,154.68. This represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan J.S. Taylor sold 8,543 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total transaction of $698,304.82. Following the transaction, the director directly owned 94,608 shares of the company's stock, valued at $7,733,257.92. This represents a 8.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 812,785 shares of company stock worth $79,303,775 over the last three months. Company insiders own 5.10% of the company's stock.

Everpure Stock Down 0.0%

NYSE:P opened at $104.10 on Monday. Everpure, Inc. has a 52-week low of $56.78 and a 52-week high of $119.10. The company's fifty day simple moving average is $92.22. The company has a market capitalization of $34.69 billion, a price-to-earnings ratio of 142.60, a price-to-earnings-growth ratio of 4.19 and a beta of 1.43.

Everpure (NYSE:P - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The firm had revenue of $1.19 billion for the quarter. The firm's quarterly revenue was up 37.7% on a year-over-year basis. On average, equities analysts predict that Everpure, Inc. will post 0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on P shares. Wall Street Zen downgraded Everpure from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 12th. Barclays lifted their price objective on shares of Everpure from $84.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, August 28th. Oppenheimer reaffirmed an "outperform" rating and issued a $140.00 price target on shares of Everpure in a report on Thursday, August 20th. Needham & Company LLC began coverage on Everpure in a research note on Thursday. They issued a "buy" rating and a $140.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Everpure in a research report on Friday, July 17th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $129.10.

Everpure 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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