Vanguard Group Inc. Has $2.22 Billion Position in Everpure, Inc. $P

Vanguard Group Inc. cut its stake in shares of Everpure, Inc. (NYSE:P) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,125,015 shares of the company’s stock after selling 766,010 shares during the quarter. Vanguard Group Inc. owned 0.10% of Everpure worth $2,219,707,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Winnow Wealth LLC acquired a new stake in Everpure in the third quarter valued at approximately $26,000. Provenance Wealth Advisors LLC acquired a new position in shares of Everpure during the third quarter worth $27,000. Sunbelt Securities Inc. increased its holdings in shares of Everpure by 287.1% during the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock worth $28,000 after buying an additional 244 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Everpure in the 3rd quarter valued at $28,000. Finally, Assetmark Inc. boosted its holdings in shares of Everpure by 186.6% during the 3rd quarter. Assetmark Inc. now owns 341 shares of the company’s stock valued at $29,000 after acquiring an additional 222 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors and hedge funds.

Everpure Price Performance

Shares of NYSE:P opened at $70.31 on Thursday. The firm has a market cap of $23.23 billion, a P/E ratio of 127.84, a P/E/G ratio of 5.52 and a beta of 1.34. Everpure, Inc. has a 12-month low of $43.51 and a 12-month high of $100.59.

Everpure (NYSE:P) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.03 billion. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. Analysts expect that Everpure, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Everpure

In related news, insider John Colgrove sold 82,266 shares of the company’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $70.50, for a total value of $5,799,753.00. Following the sale, the insider directly owned 66,927 shares in the company, valued at $4,718,353.50. This represents a 55.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 200,000 shares of company stock valued at $14,046,750 over the last quarter. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on P shares. Wall Street Zen upgraded Everpure from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Piper Sandler reissued a “buy” rating on shares of Everpure in a research note on Thursday, February 26th. Wedbush restated an “outperform” rating and set a $100.00 price target on shares of Everpure in a report on Monday, February 23rd. Northland Securities raised Everpure from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $77.00 to $81.00 in a research note on Monday, March 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Everpure from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Everpure has a consensus rating of “Moderate Buy” and an average target price of $93.21.

Everpure Company Profile

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.