Wedmont Private Capital Buys New Position in Everpure, Inc. $P

Wedmont Private Capital purchased a new position in shares of Everpure, Inc. (NYSE:P) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,691 shares of the company’s stock, valued at approximately $531,000.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Everpure by 0.8% in the fourth quarter. State Street Corp now owns 10,953,501 shares of the company’s stock valued at $733,994,000 after acquiring an additional 88,583 shares during the period. Geode Capital Management LLC raised its position in Everpure by 2.8% in 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 last quarter. Norges Bank purchased a new stake in Everpure in the 4th quarter valued at $265,327,000. Atreides Management LP acquired a new stake in Everpure during the 2nd quarter worth $204,552,000. Finally, AQR Capital Management LLC grew its position in Everpure by 62.7% during the 4th quarter. AQR Capital Management LLC now owns 3,414,715 shares of the company’s stock worth $228,820,000 after purchasing an additional 1,315,351 shares during the last quarter. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Price Performance

Shares of NYSE P opened at $94.13 on Friday. The company has a 50-day moving average of $89.67. Everpure, Inc. has a 52 week low of $56.78 and a 52 week high of $119.10. The firm has a market capitalization of $31.29 billion, a PE ratio of 128.95, a price-to-earnings-growth ratio of 3.90 and a beta of 1.43.

Everpure (NYSE:P) last announced its quarterly earnings results on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.19 by $0.51. Everpure had a return on equity of 19.06% and a net margin of 5.94%.The business had revenue of $1.19 billion for the quarter. Everpure’s revenue for the quarter was up 37.7% on a year-over-year basis. Research analysts forecast that Everpure, Inc. will post 0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Everpure in a report on Thursday, May 28th. Bank of America raised Everpure from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $150.00 in a research note on Thursday, August 27th. Wedbush increased their price objective on Everpure from $127.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Needham & Company LLC lifted their target price on Everpure from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, DA Davidson set a $100.00 target price on Everpure in a report on Wednesday, July 1st. Seventeen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Everpure currently has a consensus rating of “Moderate Buy” and an average price target of $129.10.

Insider Transactions at Everpure

In other news, Director Susan J.S. Taylor sold 8,543 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $81.74, for a total value of $698,304.82. Following the completion of the transaction, the director owned 94,608 shares in the company, valued at $7,733,257.92. This trade represents a 8.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Colgrove sold 64,815 shares of Everpure stock in a transaction on Friday, August 14th. The stock was sold at an average price of $117.44, for a total value of $7,611,873.60. Following the transaction, the insider directly owned 6,074,080 shares of the company’s stock, valued at $713,339,955.20. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 717,520 shares of company stock worth $70,172,896 over the last ninety days. 5.10% of the stock is currently owned by company insiders.

About Everpure

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.