Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Everpure, Inc. $P

Key Points

• Mitsubishi UFJ Asset Management increased its Everpure stake by 9.7% in the fourth quarter, ending with 336,961 shares worth about $23.3 million.
• Everpure reported better-than-expected quarterly results, with EPS of $0.69 versus $0.65 expected and revenue of $1.06 billion, up 20.4% from a year earlier.
• Wall Street remains broadly positive: analysts have a “Moderate Buy” consensus with a $93.21 price target, though insider selling has been notable, including a recent 82,266-share sale by John Colgrove.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Everpure, Inc. (NYSE:P - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 336,961 shares of the company's stock after purchasing an additional 29,740 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of Everpure worth $23,254,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Winnow Wealth LLC purchased a new position in shares of Everpure during the 3rd quarter worth $26,000. Provenance Wealth Advisors LLC purchased a new position in shares of Everpure during the 3rd quarter worth $27,000. Salomon & Ludwin LLC lifted its stake in shares of Everpure by 108.2% during the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company's stock worth $27,000 after purchasing an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Everpure during the 3rd quarter worth $28,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock worth $28,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 83.42% of the company's stock.

Everpure Stock Performance

NYSE:P opened at $78.04 on Friday. Everpure, Inc. has a 12 month low of $48.31 and a 12 month high of $100.59. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 141.90, a P/E/G ratio of 5.83 and a beta of 1.44.

Everpure (NYSE:P - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.45 earnings per share. The firm's revenue was up 20.4% compared to the same quarter last year. Equities research analysts anticipate that Everpure, Inc. will post 0.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

P has been the topic of a number of recent analyst reports. Northland Securities raised Everpure from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $77.00 to $81.00 in a research note on Monday, March 9th. Weiss Ratings initiated coverage on Everpure in a research note on Monday, April 20th. They set a "hold (c)" rating on the stock. Piper Sandler reissued a "buy" rating on shares of Everpure in a research note on Thursday, February 26th. Wedbush reissued an "outperform" rating and set a $100.00 price target on shares of Everpure in a research note on Monday, February 23rd. Finally, Wells Fargo & Company cut their target price on Everpure from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Thursday, February 26th. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.21.

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 82,266 shares of the firm's stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $70.50, for a total value of $5,799,753.00. Following the transaction, the insider directly owned 66,927 shares of the company's stock, valued at $4,718,353.50. This trade represents a 55.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 334,265 shares of company stock valued at $24,135,234 over the last 90 days. Company insiders own 0.43% of the company's stock.

Everpure Company Profile

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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