NewEdge Advisors LLC Invests $2.09 Million in Everpure, Inc. $P

Key Points

• NewEdge Advisors purchased 26,518 shares valued at approximately $2.09 million, while institutional investors collectively own 83.42% of the company.
• Analysts remain broadly bullish, with 17 Buy, three Hold, and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $129.10.
• Everpure reported quarterly EPS of $0.70 versus the $0.19 consensus estimate, while revenue rose 37.7% year over year to $1.19 billion. However, insiders sold roughly 817,520 shares worth $79.7 million over the past 90 days.

NewEdge Advisors LLC purchased a new stake in shares of Everpure, Inc. (NYSE:P - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 26,518 shares of the company's stock, valued at approximately $2,089,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Rothschild Investment LLC increased its stake in Everpure by 18.1% during the 4th quarter. Rothschild Investment LLC now owns 993 shares of the company's stock valued at $67,000 after buying an additional 152 shares during the period. Larson Financial Group LLC lifted its stake in shares of Everpure by 8.5% in the 4th quarter. Larson Financial Group LLC now owns 2,420 shares of the company's stock worth $162,000 after acquiring an additional 190 shares during the period. Kestra Investment Management LLC lifted its stake in shares of Everpure by 1.5% in the 4th quarter. Kestra Investment Management LLC now owns 18,046 shares of the company's stock worth $1,209,000 after acquiring an additional 275 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Everpure by 29.7% in the fourth quarter. Clearstead Advisors LLC now owns 1,240 shares of the company's stock valued at $83,000 after acquiring an additional 284 shares in the last quarter. Finally, Continuum Advisory LLC bought a new position in shares of Everpure in the second quarter valued at approximately $29,000. 83.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on P. Guggenheim reissued a "buy" rating and set a $150.00 target price on shares of Everpure in a report on Thursday, August 27th. JPMorgan Chase & Co. increased 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. DA Davidson set a $100.00 price target on Everpure in a research report on Wednesday, July 1st. Oppenheimer reissued an "outperform" rating and issued a $140.00 price objective on shares of Everpure in a research note on Thursday, August 20th. Finally, Northland Securities upped 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. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Everpure currently has a consensus rating of "Moderate Buy" and an average 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 that occurred on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total value of $698,304.82. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ajay Singh sold 9,787 shares of Everpure 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 817,520 shares of company stock valued at $79,667,896 over the last ninety days. Corporate insiders own 5.10% of the company's stock.

Everpure Trading Up 0.1%

P opened at $104.10 on Friday. The company has a market cap of $34.69 billion, a price-to-earnings ratio of 142.60, a PEG ratio of 4.18 and a beta of 1.43. The stock's fifty day moving average is $92.22. Everpure, Inc. has a fifty-two week low of $56.78 and a fifty-two week 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, topping analysts' consensus estimates of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The company had revenue of $1.19 billion for the quarter. The firm's revenue was up 37.7% compared to the same quarter last year. On average, equities research analysts expect that Everpure, Inc. will post 0.96 EPS for the current fiscal year.

Everpure 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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