Van Hulzen Asset Management LLC Takes Position in Everpure, Inc. $P

Van Hulzen Asset Management LLC purchased a new position in Everpure, Inc. (NYSE:P) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 68,312 shares of the company’s stock, valued at approximately $5,382,000.

Other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. increased its position in shares of Everpure by 287.1% in the third quarter. Sunbelt Securities Inc. now owns 329 shares of the company’s stock valued at $28,000 after buying an additional 244 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Everpure during the 3rd quarter valued at approximately $29,000. Continuum Advisory LLC acquired a new stake in Everpure in the 2nd quarter valued at $29,000. Greenline Wealth Management LLC purchased a new stake in Everpure in the 4th quarter worth $32,000. Finally, Reflection Asset Management purchased a new stake in Everpure in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Insider Buying and Selling

In other news, insider Ajay Singh sold 9,787 shares of the stock in a transaction on Wednesday, July 8th. The stock was 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 in the company, valued at approximately $26,634,154.68. This represents a 2.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Colgrove sold 200,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $96.98, for a total value 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. 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. Over the last three months, insiders sold 817,420 shares of company stock worth $77,269,792. Company insiders own 5.10% of the company’s stock.

Analyst Ratings Changes

P has been the topic of several recent analyst reports. Guggenheim reaffirmed a “buy” rating and set a $150.00 price objective on shares of Everpure in a report on Thursday, August 27th. Piper Sandler restated 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. DA Davidson set a $100.00 price target on Everpure in a research note on Wednesday, July 1st. Citigroup boosted their price target on Everpure from $118.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, Oppenheimer restated an “outperform” rating and set a $140.00 price target on shares of Everpure in a research report on Thursday, August 20th. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.10.

Everpure Trading Down 4.2%

Everpure stock opened at $96.86 on Thursday. The stock’s 50-day moving average price is $89.24. Everpure, Inc. has a 12-month low of $56.78 and a 12-month high of $119.10. The firm has a market capitalization of $32.20 billion, a PE ratio of 132.69, a P/E/G ratio of 4.07 and a beta of 1.43.

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. The business had revenue of $1.19 billion during the quarter. Everpure had a net margin of 5.94% and a return on equity of 19.06%. Everpure’s revenue for the quarter was up 37.7% on a year-over-year basis. Research analysts anticipate that Everpure, Inc. will post 0.96 earnings per share for the current fiscal year.

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.