Louisiana State Employees Retirement System Takes $5.37 Million Position in Everpure, Inc. $P

Key Points

• Louisiana State Employees Retirement System disclosed a new first-quarter position in Everpure, buying 90,900 shares valued at about $5.37 million.
• Everpure shares were down 3.6% in Friday trading, opening at $69.14, while the stock remains above its 52-week low but below its 50-day average.
• The company posted better-than-expected quarterly results, with EPS of $0.47 versus the $0.40 consensus and revenue rising 35.2% year over year to $1.05 billion; analysts still rate the stock Moderate Buy on average.

Louisiana State Employees Retirement System purchased a new stake in shares of Everpure, Inc. (NYSE:P - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 90,900 shares of the company's stock, valued at approximately $5,367,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Fiduciary Alliance LLC grew its stake in Everpure by 23.9% in the 1st quarter. Fiduciary Alliance LLC now owns 13,875 shares of the company's stock valued at $900,000 after buying an additional 2,675 shares in the last quarter. MBM Wealth Consultants LLC lifted its position in shares of Everpure by 6.8% during the first quarter. MBM Wealth Consultants LLC now owns 12,146 shares of the company's stock worth $717,000 after acquiring an additional 776 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Everpure by 4.4% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,154 shares of the company's stock worth $599,000 after acquiring an additional 429 shares during the period. OP Asset Management Ltd purchased a new position in shares of Everpure in the first quarter valued at $1,785,000. Finally, Krilogy Financial LLC raised its stake in shares of Everpure by 11.5% during the 1st quarter. Krilogy Financial LLC now owns 9,532 shares of the company's stock valued at $563,000 after purchasing an additional 986 shares during the period. 83.42% of the stock is owned by institutional investors.

Everpure Stock Down 3.6%

Shares of NYSE:P opened at $69.14 on Friday. The business has a fifty day moving average of $76.44. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 104.76, a price-to-earnings-growth ratio of 4.06 and a beta of 1.44. Everpure, Inc. has a one year low of $53.43 and a one year high of $100.59.

Everpure (NYSE:P - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $997.88 million. During the same period in the previous year, the firm posted $0.29 EPS. The firm's revenue was up 35.2% compared to the same quarter last year. As a group, research analysts forecast that Everpure, Inc. will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Everpure

In other Everpure news, Director Mallun Yen sold 4,735 shares of Everpure stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $76.90, for a total transaction of $364,121.50. Following the completion of the sale, the director owned 43,281 shares of the company's stock, valued at $3,328,308.90. The trade was a 9.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Colgrove sold 99,900 shares of the company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $71.04, for a total value of $7,096,896.00. Following the completion of the transaction, the insider owned 2,615,000 shares of the company's stock, valued at $185,769,600. The trade was a 3.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 649,280 shares of company stock worth $49,666,341 in the last 90 days. Company insiders own 5.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on P shares. UBS Group increased their price objective on Everpure from $63.00 to $70.00 and gave the stock a "sell" rating in a report on Thursday, May 28th. Wedbush upped their price target on Everpure from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Thursday, May 28th. Guggenheim increased their price target on shares of Everpure from $105.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Citigroup lowered shares of Everpure from a "buy" rating to a "neutral" rating and set a $90.00 price objective for the company. in a research report on Thursday, May 14th. Finally, William Blair reaffirmed an "outperform" rating on shares of Everpure in a research note on Thursday, May 28th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $96.32.

About Everpure

Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company's Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array.

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