Engineers Gate Manager LP Invests $25.86 Million in Everpure, Inc. $P

Key Points

• Engineers Gate Manager LP acquired 328,204 shares of Everpure, valued at approximately $25.86 million, while institutional investors collectively owned 83.42% of the company.
• Insiders sold 817,420 shares worth about $77.27 million during the last quarter, including sales by insider Ajay Singh and director Susan J.S. Taylor.
• Everpure reported quarterly EPS of $0.70, well above the $0.19 consensus estimate, with revenue rising 37.7% year over year to $1.19 billion. Analysts maintain a “Moderate Buy” consensus and an average price target of $129.10.

Engineers Gate Manager LP acquired a new position in shares of Everpure, Inc. (NYSE:P - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 328,204 shares of the company's stock, valued at approximately $25,859,000. Engineers Gate Manager LP owned approximately 0.10% of Everpure at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of P. Integrated Wealth Concepts LLC purchased a new position in shares of Everpure in the 2nd quarter worth about $1,768,000. NewEdge Advisors LLC purchased a new stake in Everpure during the 2nd quarter valued at about $2,089,000. IFP Advisors Inc purchased a new stake in Everpure during the 2nd quarter valued at about $814,000. Baird Financial Group Inc. bought a new stake in Everpure during the 2nd quarter valued at about $455,000. Finally, Allworth Financial LP bought a new stake in Everpure during the 2nd quarter valued at about $6,850,000. Hedge funds and other institutional investors own 83.42% of the company's stock.

Insider Buying and Selling

In related news, insider Ajay Singh sold 9,787 shares of Everpure stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $78.12, for a total transaction of $764,560.44. Following the sale, the insider owned 340,939 shares of the company's stock, valued at approximately $26,634,154.68. This trade represents a 2.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan J.S. Taylor sold 8,543 shares of the business's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 817,420 shares of company stock valued at $77,269,792. Company insiders own 5.10% of the company's stock.

Everpure Trading Down 4.2%

Shares of P stock opened at $96.86 on Thursday. Everpure, Inc. has a 12 month low of $56.78 and a 12 month high of $119.10. The stock 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. The firm's 50 day simple moving average is $89.24.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of Everpure from $100.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded Everpure from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 29th. Evercore reissued an "outperform" rating and issued a $130.00 target price on shares of Everpure in a report on Monday, August 24th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Everpure in a report on Friday, July 17th. Finally, William Blair reaffirmed an "outperform" rating on shares of Everpure in a research report on Thursday, May 28th. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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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