IFP Advisors Inc Makes New Investment in Everpure, Inc. $P

IFP Advisors Inc purchased a new stake in Everpure, Inc. (NYSE:P) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 10,334 shares of the company’s stock, valued at approximately $814,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System bought a new position in Everpure during the 2nd quarter valued at $2,964,174,000. Norges Bank bought a new stake in shares of Everpure in the 4th quarter worth $265,327,000. Turiya Advisors Asia Ltd bought a new stake in shares of Everpure in the 4th quarter worth $67,010,000. JANA Partners Management LP purchased a new stake in shares of Everpure in the second quarter valued at about $77,939,000. Finally, Franklin Resources Inc. raised its holdings in shares of Everpure by 28.5% in the fourth quarter. Franklin Resources Inc. now owns 3,007,431 shares of the company’s stock valued at $201,528,000 after purchasing an additional 666,941 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Stock Down 4.5%

NYSE P opened at $93.73 on Tuesday. The business’s fifty day simple moving average is $90.49. The company has a market cap of $31.23 billion, a PE ratio of 128.39, a price-to-earnings-growth ratio of 3.95 and a beta of 1.43. Everpure, Inc. has a one year low of $56.78 and a one year high of $119.10.

Everpure (NYSE:P) last posted its quarterly 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. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The company had revenue of $1.19 billion during the quarter. The business’s quarterly revenue was up 37.7% compared to the same quarter last year. Equities research analysts forecast that Everpure, Inc. will post 0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Everpure

In other news, insider Ajay Singh sold 9,787 shares of the stock in a transaction that occurred 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 $26,634,154.68. This represents a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the sale, the insider owned 6,474,080 shares of the company’s stock, valued at approximately $627,856,278.40. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 817,520 shares of company stock worth $79,667,896 over the last three months. 5.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Everpure from $108.00 to $119.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Bank of America upgraded shares of Everpure from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $150.00 in a research note on Thursday, August 27th. Susquehanna reissued a “positive” rating and set a $145.00 target price on shares of Everpure in a research report on Thursday, August 27th. Wall Street Zen downgraded Everpure from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Needham & Company LLC upped their target price on Everpure from $100.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Everpure has an average 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.