John Colgrove Sells 100,000 Shares of Everpure (NYSE:P) Stock

Key Points

• John Colgrove sold 100,000 shares of Everpure at an average price of $110.35, generating $11.04 million. The sale occurred under a Rule 10b5-1 plan to cover tax obligations, reducing his ownership by 1.64% to 5.99 million shares.
• The insider has made several additional stock sales since July, including transactions totaling 100,000 shares or more on multiple occasions. Shares recently traded down 2.5% to $110.77, near the company’s 52-week high.
• Everpure 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 consensus “Moderate Buy” rating with an average price target of $129.10.

Everpure, Inc. (NYSE:P - Get Free Report) insider John Colgrove sold 100,000 shares of the company's stock in a transaction on Monday, September 21st. The stock was sold at an average price of $110.35, for a total transaction of $11,035,000.00. Following the transaction, the insider owned 5,993,309 shares of the company's stock, valued at $661,361,648.15. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

John Colgrove also recently made the following trade(s):

• On Thursday, September 10th, John Colgrove sold 100,000 shares of Everpure stock. The shares were sold at an average price of $94.95, for a total value of $9,495,000.00.
• On Friday, August 14th, John Colgrove sold 64,815 shares of Everpure stock. The shares were sold at an average price of $117.44, for a total transaction of $7,611,873.60.
• On Thursday, August 13th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $117.21, for a total value of $11,721,000.00.
• On Tuesday, August 11th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $104.39, for a total transaction of $10,439,000.00.
• On Monday, August 10th, John Colgrove sold 200,000 shares of Everpure stock. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00.
• On Friday, August 7th, John Colgrove sold 35,185 shares of Everpure stock. The stock was sold at an average price of $90.01, for a total value of $3,167,001.85.
• On Tuesday, August 4th, John Colgrove sold 89,720 shares of Everpure stock. The stock was sold at an average price of $85.66, for a total transaction of $7,685,415.20.
• On Friday, July 10th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $79.82, for a total value of $7,982,000.00.

Everpure Trading Down 2.5%

Shares of NYSE:P traded down $2.90 during mid-day trading on Tuesday, reaching $110.77. The company had a trading volume of 5,785,824 shares, compared to its average volume of 3,705,599. Everpure, Inc. has a one year low of $56.78 and a one year high of $119.10. The company has a 50-day simple moving average of $92.97. The stock has a market capitalization of $36.91 billion, a price-to-earnings ratio of 151.73, a price-to-earnings-growth ratio of 4.19 and a beta of 1.43.

Everpure (NYSE:P - Get Free Report) last posted 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 business had revenue of $1.19 billion for the quarter. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The company's revenue was up 37.7% on a year-over-year basis. On average, equities analysts expect that Everpure, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Everpure

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Everpure by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company's stock valued at $515,972,000 after buying an additional 207,317 shares during the period. Norges Bank purchased a new stake in shares of Everpure during the fourth quarter valued at about $265,327,000. Franklin Resources Inc. lifted its position in shares of Everpure by 28.5% during the fourth quarter. Franklin Resources Inc. now owns 3,007,431 shares of the company's stock valued at $201,528,000 after buying an additional 666,941 shares during the last quarter. Mariner LLC boosted its holdings in shares of Everpure by 3.1% in the 4th quarter. Mariner LLC now owns 2,679,161 shares of the company's stock valued at $179,538,000 after buying an additional 80,039 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Everpure by 20.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,554,240 shares of the company's stock worth $104,150,000 after buying an additional 265,846 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on P shares. Susquehanna reaffirmed a "positive" rating and set a $145.00 target price on shares of Everpure in a research note on Thursday, August 27th. Piper Sandler reaffirmed an "overweight" rating and issued a $133.00 target price (up from $92.00) on shares of Everpure in a research report on Thursday, August 27th. Northland Securities increased their price objective on shares of Everpure from $90.00 to $128.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. TD Cowen lifted their price objective on Everpure from $100.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, August 18th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Everpure in a report on Friday, July 17th. Seventeen investment 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, Everpure presently has a consensus rating of "Moderate Buy" and an average target price of $129.10.

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.

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