Arizona State Retirement System Acquires Shares of 90,010 Everpure, Inc. $P

Key Points

• Arizona State Retirement System acquired 90,010 shares of Everpure/Pentair (NYSE: P) worth approximately $7.1 million, while institutional investors collectively own 83.42% of the stock.
• The company reported quarterly EPS of $0.70, beating estimates by $0.51, with revenue of $1.19 billion, up 37.7% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $129.10.
• Shares opened at $94.13 after declining 3.0%; meanwhile, insiders sold 717,520 shares worth roughly $70.2 million during the last quarter.

Arizona State Retirement System acquired a new position in Everpure, Inc. (NYSE:P - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 90,010 shares of the company's stock, valued at approximately $7,092,000.

Other large investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in Everpure in the first quarter worth about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Everpure by 129.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company's stock worth $387,000 after acquiring an additional 4,926 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Everpure by 109.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company's stock valued at $50,377,000 after purchasing an additional 595,307 shares during the period. Empowered Funds LLC lifted its stake in shares of Everpure by 4.2% in the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company's stock valued at $212,000 after purchasing an additional 194 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Everpure by 261.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company's stock valued at $184,000 after purchasing an additional 2,316 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Everpure Stock Down 3.0%

Shares of Everpure stock opened at $94.13 on Friday. The firm has a fifty day simple moving average of $89.67. The company has a market cap of $31.29 billion, a P/E ratio of 128.95, a PEG ratio of 3.90 and a beta of 1.43. Everpure, Inc. has a 52 week low of $56.78 and a 52 week high of $119.10.

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

Wall Street Analyst Weigh In

P has been the subject of a number of recent research reports. Needham & Company LLC lifted their target price on Everpure from $100.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Northland Securities raised their price target on Everpure from $90.00 to $128.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. 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 note on Friday, August 28th. Wedbush increased their target price on shares of Everpure from $127.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th. Finally, Zacks Research lowered shares of Everpure from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $129.10.

Insider Activity at Everpure

In other Everpure news, 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 value of $698,304.82. Following the completion of the sale, the director directly owned 94,608 shares in the company, valued at approximately $7,733,257.92. This represents a 8.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew Brown sold 4,735 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $72.57, for a total value of $343,618.95. Following the transaction, the director directly owned 27,683 shares in the company, valued at $2,008,955.31. The trade was a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 717,520 shares of company stock valued at $70,172,896 in the last quarter. Corporate insiders own 5.10% of the company's stock.

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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