Engineers Gate Manager LP Purchases Shares of 328,204 Everpure, Inc. $P

Engineers Gate Manager LP acquired a new position in shares of Everpure, Inc. (NYSE:P) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 328,204 shares of the company’s stock, valued at approximately $25,859,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. California State Teachers Retirement System purchased a new position in Everpure in the second quarter worth about $2,964,174,000. State Street Corp grew its stake in Everpure by 0.8% in the fourth quarter. State Street Corp now owns 10,953,501 shares of the company’s stock worth $733,994,000 after purchasing an additional 88,583 shares in the last quarter. Geode Capital Management LLC increased its position in Everpure by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock valued at $515,972,000 after purchasing an additional 207,317 shares during the period. Norges Bank purchased a new position in Everpure during the 4th quarter valued at about $265,327,000. Finally, Atreides Management LP bought a new stake in shares of Everpure in the 2nd quarter valued at about $204,552,000. 83.42% of the stock is currently owned by institutional investors.

Everpure Stock Performance

Shares of NYSE P opened at $96.86 on Thursday. Everpure, Inc. has a fifty-two week low of $56.78 and a fifty-two week high of $119.10. The firm has a market capitalization of $32.20 billion, a P/E ratio of 132.69, a PEG ratio of 4.07 and a beta of 1.43. The business has a 50-day simple moving average of $89.24.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.51. The firm 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 business’s quarterly revenue was up 37.7% compared to the same quarter last year. On average, analysts expect that Everpure, Inc. will post 0.96 EPS for the current year.

Analysts Set New Price Targets

P has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and set a $140.00 price objective on shares of Everpure in a research note on Thursday, August 20th. Wedbush boosted their price objective on shares of Everpure from $127.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Citigroup raised their price objective on Everpure from $118.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Susquehanna reiterated a “positive” rating and issued a $145.00 target price on shares of Everpure in a research note on Thursday, August 27th. Finally, Piper Sandler reissued an “overweight” rating and set a $133.00 price target (up from $92.00) on shares of Everpure in a research report on Thursday, August 27th. Seventeen equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.10.

Insider Buying and Selling at Everpure

In other news, insider John Colgrove sold 200,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the sale, the insider directly owned 6,474,080 shares of the company’s stock, valued at $627,856,278.40. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ajay Singh sold 9,787 shares of the business’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 sale, the insider directly owned 340,939 shares in the company, valued at $26,634,154.68. This trade represents a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 817,420 shares of company stock worth $77,269,792. 5.10% of the stock is owned by corporate insiders.

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.