National Pension Service Purchases New Shares in Everpure, Inc. $P

Key Points

• National Pension Service purchased 55,840 shares of Everpure, valued at approximately $4.4 million. Institutional investors own 83.42% of the company, with several funds increasing their positions.
• Analysts maintain a favorable outlook, with 17 Buy ratings, three Holds, and one Sell. The stock has a “Moderate Buy” consensus rating and an average price target of $129.10, above its reported $98.05 opening price.
• Everpure reported quarterly EPS of $0.70, beating estimates by $0.51, while revenue rose 37.7% year over year to $1.19 billion. However, insiders sold approximately $70.2 million worth of shares over the past 90 days.

National Pension Service purchased a new position in shares of Everpure, Inc. (NYSE:P - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 55,840 shares of the company's stock, valued at approximately $4,400,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of P. Integrated Wealth Concepts LLC acquired a new stake in Everpure in the first quarter valued at about $541,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Everpure by 129.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,742 shares of the company's stock worth $387,000 after purchasing an additional 4,926 shares during the period. Goldman Sachs Group Inc. increased its position in Everpure by 109.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,137,939 shares of the company's stock worth $50,377,000 after purchasing an additional 595,307 shares during the period. Empowered Funds LLC raised its stake in shares of Everpure by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,790 shares of the company's stock worth $212,000 after buying an additional 194 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Everpure by 261.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,203 shares of the company's stock worth $184,000 after buying an additional 2,316 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on P shares. JPMorgan Chase & Co. lifted their price target on Everpure from $130.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, August 27th. Evercore reiterated an "outperform" rating and issued a $130.00 price objective on shares of Everpure in a research report on Monday, August 24th. Raymond James Financial reissued an "outperform" rating and issued a $122.00 target price on shares of Everpure in a report on Thursday, August 27th. Needham & Company LLC boosted their target price on shares of Everpure from $100.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $133.00 price target (up from $92.00) on shares of Everpure in a research note on Thursday, August 27th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $129.10.

Everpure Trading Down 0.1%

Shares of P opened at $98.05 on Monday. Everpure, Inc. has a 12-month low of $56.78 and a 12-month high of $119.10. The firm has a market capitalization of $32.67 billion, a PE ratio of 134.32, a P/E/G ratio of 3.95 and a beta of 1.43. The business's 50-day simple moving average is $90.17.

Everpure (NYSE:P - Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The business had revenue of $1.19 billion for the quarter. The company's revenue was up 37.7% compared to the same quarter last year. Research analysts predict that Everpure, Inc. will post 0.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Everpure news, insider Ajay Singh sold 9,787 shares of the firm's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew Brown sold 4,735 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $72.57, for a total value of $343,618.95. Following the transaction, the director directly owned 27,683 shares of the company's stock, valued at $2,008,955.31. The trade was a 14.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 717,520 shares of company stock worth $70,172,896 in the last 90 days. Corporate insiders own 5.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.