Pinebridge Investments LLC Takes $2.91 Million Position in Everpure, Inc. $P

Pinebridge Investments LLC bought a new stake in shares of Everpure, Inc. (NYSE:P) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 43,415 shares of the company’s stock, valued at approximately $2,909,000.

Several other large investors have also recently modified their holdings of P. Provenance Wealth Advisors LLC purchased a new position in Everpure during the 3rd quarter valued at $27,000. Salomon & Ludwin LLC boosted its holdings in Everpure by 108.2% during the 4th quarter. Salomon & Ludwin LLC now owns 383 shares of the company’s stock valued at $27,000 after acquiring an additional 199 shares during the period. Foster Dykema Cabot & Partners LLC purchased a new position in Everpure during the 3rd quarter valued at $28,000. Sunbelt Securities Inc. boosted its holdings in Everpure by 287.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after acquiring an additional 244 shares during the period. Finally, Assetmark Inc. boosted its holdings in 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 during the period. Institutional investors own 83.42% of the company’s stock.

Everpure Trading Up 0.0%

Shares of NYSE:P opened at $72.19 on Monday. Everpure, Inc. has a 1 year low of $50.20 and a 1 year high of $100.59. The stock has a market cap of $23.86 billion, a P/E ratio of 109.39, a price-to-earnings-growth ratio of 5.12 and a beta of 1.44.

Everpure (NYSE:P) last announced its earnings results on Wednesday, May 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $997.88 million. During the same period in the prior year, the company posted $0.29 EPS. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. Research analysts expect that Everpure, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on P shares. Morgan Stanley boosted their price objective on Everpure from $84.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, May 28th. Wells Fargo & Company boosted their price objective on Everpure from $90.00 to $97.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Everpure in a report on Thursday, May 28th. UBS Group boosted their price objective on Everpure from $63.00 to $70.00 and gave the company a “sell” rating in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded Everpure from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.32.

Insider Buying and Selling at Everpure

In other news, insider John Colgrove sold 200,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total value of $17,186,000.00. Following the transaction, the insider directly owned 6,625,221 shares of the company’s stock, valued at approximately $569,305,240.53. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 544,545 shares of company stock valued at $42,198,324 over the last quarter. 5.10% of the stock is currently owned by corporate insiders.

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.