Integrated Wealth Concepts LLC Invests $1.77 Million in Everpure, Inc. $P

Key Points

• Integrated Wealth Concepts acquired 22,437 shares valued at approximately $1.77 million during the second quarter. Other institutional investors also established positions, with institutions and hedge funds collectively owning 83.42% of the stock.
• Everpure reported quarterly earnings of $0.70 per share, beating consensus estimates of $0.19, while revenue reached $1.19 billion—up 37.7% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $129.10.
• Insiders have sold 817,520 shares worth roughly $79.7 million over the past 90 days, including a 100,000-share sale by John Colgrove. The article also notes that Everpure is a Pentair-owned brand rather than a separately listed company trading under NYSE:P.

Integrated Wealth Concepts LLC acquired a new stake in Everpure, Inc. (NYSE:P - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 22,437 shares of the company's stock, valued at approximately $1,768,000.

Several other large investors have also added to or reduced their stakes in P. Paradigm Capital Management Inc. NY acquired a new position in shares of Everpure during the 2nd quarter worth about $2,127,000. Raiffeisen Bank International AG bought a new stake in Everpure during the second quarter worth about $25,525,000. Wellington Management Group LLP bought a new stake in Everpure during the second quarter worth about $2,192,000. S&CO Inc. acquired a new position in Everpure during the second quarter valued at approximately $15,003,000. Finally, Saudi Central Bank acquired a new position in Everpure during the second quarter valued at approximately $1,731,000. Institutional investors and hedge funds own 83.42% of the company's stock.

Everpure Stock Performance

Everpure stock opened at $96.76 on Wednesday. The firm has a 50-day moving average of $90.86. The company has a market cap of $32.24 billion, a PE ratio of 132.55, a P/E/G ratio of 3.77 and a beta of 1.43. Everpure, Inc. has a twelve month low of $56.78 and a twelve month 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 for the quarter, topping analysts' consensus estimates of $0.19 by $0.51. The company had revenue of $1.19 billion for the quarter. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The company's quarterly revenue was up 37.7% compared to the same quarter last year. As a group, equities analysts forecast that Everpure, Inc. will post 0.96 EPS for the current year.

Insider Activity

In other Everpure news, insider John Colgrove sold 100,000 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $94.95, for a total value of $9,495,000.00. Following the completion of the sale, the insider owned 2,465,000 shares of the company's stock, valued at $234,051,750. The trade was a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ajay Singh sold 9,787 shares of the 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 transaction, the insider owned 340,939 shares in the company, valued at approximately $26,634,154.68. The trade was a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 817,520 shares of company stock valued at $79,667,896. 5.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on P shares. Northland Securities increased their price objective on Everpure from $90.00 to $128.00 and gave the company an "outperform" rating in a report on Friday, August 28th. Morgan Stanley increased their price target on shares of Everpure from $108.00 to $119.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Wedbush lifted their price objective on shares of Everpure from $127.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, August 27th. Wells Fargo & Company upped their target price on shares of Everpure from $97.00 to $135.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $122.00 target price on shares of Everpure in a research note on Thursday, August 27th. Seventeen 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $129.10.

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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