Allworth Financial LP Takes $6.85 Million Position in Everpure, Inc. $P

Key Points

• Allworth Financial acquired 86,941 shares valued at approximately $6.85 million, while institutional investors collectively own 83.42% of the company.
• Insiders sold 817,420 shares worth about $77.3 million over the past three months, including a $19.4 million sale by John Colgrove under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a “Moderate Buy” consensus with a $129.10 average price target. The company recently reported quarterly EPS of $0.70 versus a $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion.

Allworth Financial LP bought a new position in shares of Everpure, Inc. (NYSE:P - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 86,941 shares of the company's stock, valued at approximately $6,850,000.

Other hedge funds also recently modified their holdings of the company. Paradigm Capital Management Inc. NY bought a new position in Everpure in the second quarter valued at approximately $2,127,000. Raiffeisen Bank International AG bought a new stake in Everpure during the second quarter worth $25,525,000. S&CO Inc. acquired a new stake in shares of Everpure in the 2nd quarter valued at $15,003,000. ClearAlpha Technologies LP bought a new position in shares of Everpure in the 4th quarter valued at $971,000. Finally, National Pension Service increased its stake in shares of Everpure by 782.9% in the 4th quarter. National Pension Service now owns 665,667 shares of the company's stock valued at $44,606,000 after purchasing an additional 590,274 shares during the last quarter. Institutional investors own 83.42% of the company's stock.

Insiders Place Their Bets

In related news, Director Susan J.S. Taylor sold 8,543 shares of the business's stock in a transaction 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 owned 94,608 shares in the company, valued at $7,733,257.92. The trade was a 8.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 200,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the transaction, the insider directly owned 6,474,080 shares in the company, valued at approximately $627,856,278.40. This represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 817,420 shares of company stock worth $77,269,792. Corporate insiders own 5.10% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Everpure in a research report on Friday, July 17th. William Blair reissued an "outperform" rating on shares of Everpure in a research note on Thursday, May 28th. Guggenheim restated a "buy" rating and issued a $150.00 price target on shares of Everpure in a research note on Thursday, August 27th. Zacks Research cut shares of Everpure from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Finally, TD Cowen increased their price target on Everpure from $100.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Seventeen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Everpure presently has an average rating of "Moderate Buy" and a consensus price target of $129.10.

Everpure Stock Down 4.2%

Shares of P opened at $96.86 on Thursday. The firm's fifty day moving average price is $89.24. Everpure, Inc. has a 12 month low of $56.78 and a 12 month high of $119.10. The company has a market capitalization of $32.20 billion, a PE ratio of 132.69, a P/E/G ratio of 4.07 and a beta of 1.43.

Everpure (NYSE:P - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share for the quarter, topping 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 during the quarter. Everpure's revenue was up 37.7% on a year-over-year basis. As a group, research analysts forecast that Everpure, Inc. will post 0.96 EPS for the current fiscal year.

About Everpure

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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