VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Everpure, Inc. $P

Key Points

• Virginia Retirement Systems acquired 96,573 shares of Everpure, valued at approximately $7.6 million, during the second quarter. Institutional investors and hedge funds collectively own 83.42% of the company.
• Analysts maintain a generally positive outlook, with 17 Buy ratings, three Holds, and one Sell; Everpure has a “Moderate Buy” consensus rating and an average price target of $129.10.
• Everpure reported quarterly earnings of $0.70 per share, beating estimates by $0.51, while revenue rose 37.7% year over year to $1.19 billion. Despite the strong results, insiders sold 817,420 shares worth about $77.3 million in the last quarter.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired 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 fund acquired 96,573 shares of the company's stock, valued at approximately $7,609,000.

Other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its stake in Everpure by 287.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company's stock worth $28,000 after acquiring an additional 244 shares during the last quarter. Continuum Advisory LLC purchased a new stake in Everpure during the 2nd quarter valued at about $29,000. Banque Transatlantique SA acquired a new position in shares of Everpure in the third quarter valued at about $29,000. Reflection Asset Management acquired a new position in shares of Everpure in the fourth quarter valued at about $32,000. Finally, Greenline Wealth Management LLC purchased a new position in shares of Everpure in the fourth quarter worth about $32,000. 83.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Susan J.S. Taylor sold 8,543 shares of Everpure stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $81.74, for a total transaction of $698,304.82. Following the transaction, the director owned 94,608 shares in the company, valued at $7,733,257.92. The trade was a 8.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ajay Singh sold 9,787 shares of the firm's 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 sale, the insider owned 340,939 shares of the company's stock, valued at $26,634,154.68. This represents a 2.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 817,420 shares of company stock valued at $77,269,792 in the last quarter. Corporate insiders own 5.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on P. Weiss Ratings reiterated a "hold (c)" rating on shares of Everpure in a research report on Friday, July 17th. Raymond James Financial restated an "outperform" rating and set a $122.00 price objective on shares of Everpure in a research note on Thursday, August 27th. Guggenheim reaffirmed a "buy" rating and issued a $150.00 price target on shares of Everpure in a report on Thursday, August 27th. Barclays boosted their price objective on Everpure from $84.00 to $110.00 and gave the company an "equal weight" rating in a report on Friday, August 28th. Finally, William Blair restated an "outperform" rating on shares of Everpure in a research note on Thursday, May 28th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Everpure presently has an average rating of "Moderate Buy" and an average price target of $129.10.

Everpure Trading Up 1.5%

Shares of NYSE P opened at $101.05 on Wednesday. Everpure, Inc. has a 52-week low of $56.78 and a 52-week high of $119.10. The firm has a 50-day moving average of $88.85. The firm has a market capitalization of $33.59 billion, a price-to-earnings ratio of 138.42, a price-to-earnings-growth ratio of 4.00 and a beta of 1.43.

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

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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