HB Wealth Management LLC Purchases New Position in Everpure, Inc. $P

Key Points

• HB Wealth Management purchased 12,927 shares of Everpure, valued at approximately $1.02 million, during the second quarter. Institutional investors collectively own 83.42% of the stock.
• Everpure reported quarterly EPS of $0.70, significantly above the $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $129.10, although insiders sold 717,520 shares worth roughly $70.2 million over the past three months.

HB Wealth Management LLC purchased a new stake in shares of Everpure, Inc. (NYSE:P - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,927 shares of the company's stock, valued at approximately $1,019,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. boosted its holdings in Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock worth $28,000 after acquiring an additional 244 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Everpure in the 3rd quarter valued at about $29,000. Continuum Advisory LLC purchased a new stake in Everpure in the 2nd quarter valued at about $29,000. Greenline Wealth Management LLC bought a new position in shares of Everpure during the 4th quarter worth approximately $32,000. Finally, Reflection Asset Management bought a new position in shares of Everpure during the 4th quarter worth approximately $32,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Everpure Stock Performance

P stock opened at $98.05 on Friday. The stock has a 50 day moving average of $90.17. The company has a market capitalization of $32.67 billion, a PE ratio of 134.32, a price-to-earnings-growth ratio of 3.78 and a beta of 1.43. Everpure, Inc. has a 1-year low of $56.78 and a 1-year high of $119.10.

Everpure (NYSE:P - Get Free Report) last announced its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.51. The business 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%. The company's revenue was up 37.7% compared to the same quarter last year. Equities analysts anticipate that Everpure, Inc. will post 0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on P shares. Zacks Research cut Everpure from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Bank of America upgraded Everpure from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $90.00 to $150.00 in a research note on Thursday, August 27th. Evercore reissued an "outperform" rating and issued a $130.00 price target on shares of Everpure in a report on Monday, August 24th. Barclays increased their price target on shares of Everpure from $84.00 to $110.00 and gave the company an "equal weight" rating in a research report on Friday, August 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Everpure from $97.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, August 27th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $129.10.

Insider Transactions at Everpure

In related news, Director Susan J.S. Taylor sold 8,543 shares of the firm's stock in a transaction dated Thursday, July 9th. The stock was 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 approximately $7,733,257.92. This trade represents a 8.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ajay Singh sold 9,787 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was 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 of the company's stock, valued at $26,634,154.68. The trade was a 2.79% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 717,520 shares of company stock worth $70,172,896. 5.10% of the stock is currently owned by company insiders.

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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