Sequoia Financial Advisors LLC Makes New $814,000 Investment in Everpure, Inc. $P

Key Points

• Sequoia Financial Advisors initiated an approximately $814,000 position in Everpure, purchasing 10,325 shares during the second quarter. Institutional investors collectively own 83.42% of the company.
• Everpure insiders have sold 817,520 shares worth about $79.7 million over the past 90 days, including a 100,000-share sale by John Colgrove for approximately $9.5 million.
• The company reported quarterly EPS of $0.70, beating estimates by $0.51, while revenue rose 37.7% year over year to $1.19 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $129.10, above the reported share price of $104.19.

Sequoia Financial Advisors LLC purchased a new stake in shares of Everpure, Inc. (NYSE:P - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,325 shares of the company's stock, valued at approximately $814,000.

A number of other hedge funds have also modified their holdings of P. Norges Bank purchased a new stake in shares of Everpure in the fourth quarter worth $265,327,000. Turiya Advisors Asia Ltd bought a new position in Everpure in the 4th quarter worth $67,010,000. JANA Partners Management LP bought a new position in Everpure in the 2nd quarter worth $77,939,000. Franklin Resources Inc. increased its stake in Everpure by 28.5% in the 4th quarter. Franklin Resources Inc. now owns 3,007,431 shares of the company's stock worth $201,528,000 after buying an additional 666,941 shares in the last quarter. Finally, National Pension Service increased its stake in Everpure by 782.9% in the 4th quarter. National Pension Service now owns 665,667 shares of the company's stock worth $44,606,000 after buying an additional 590,274 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.

Insider Transactions at Everpure

In other news, insider John Colgrove sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $94.95, for a total transaction of $9,495,000.00. Following the completion of the transaction, the insider directly owned 2,465,000 shares in the company, valued at approximately $234,051,750. This represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 firm's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total transaction of $764,560.44. Following the completion of the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 817,520 shares of company stock valued at $79,667,896 in the last ninety days. Corporate insiders own 5.10% of the company's stock.

Everpure Price Performance

P opened at $104.19 on Friday. The firm's 50-day moving average is $91.72. Everpure, Inc. has a 52 week low of $56.78 and a 52 week high of $119.10. The company has a market cap of $34.72 billion, a P/E ratio of 142.72, a PEG ratio of 3.93 and a beta of 1.43.

Everpure (NYSE:P - Get Free Report) last issued its earnings results on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.51. The firm 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 firm's revenue for the quarter was up 37.7% compared to the same quarter last year. As a group, analysts forecast that Everpure, Inc. will post 0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

P has been the topic of several research analyst reports. Susquehanna restated a "positive" rating and issued a $145.00 price objective on shares of Everpure in a research report on Thursday, August 27th. Barclays increased their target price on Everpure from $84.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Friday, August 28th. Oppenheimer reissued an "outperform" rating and set a $140.00 target price on shares of Everpure in a research note on Thursday, August 20th. TD Cowen boosted their price target on Everpure from $100.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. Finally, Northland Securities upped their price target on Everpure from $90.00 to $128.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. Seventeen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Everpure presently has a consensus rating of "Moderate Buy" and an average price target 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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