Insider Selling: Everpure (NYSE:P) Insider Sells 100,000 Shares of Stock

Everpure, Inc. (NYSE:P) insider John Colgrove sold 100,000 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $110.35, for a total value of $11,035,000.00. Following the completion of the transaction, the insider directly owned 5,993,309 shares in the company, valued at $661,361,648.15. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

John Colgrove also recently made the following trade(s):

• On Thursday, September 10th, John Colgrove sold 100,000 shares of Everpure stock. The shares were sold at an average price of $94.95, for a total transaction of $9,495,000.00.
• On Friday, August 14th, John Colgrove sold 64,815 shares of Everpure stock. The stock was sold at an average price of $117.44, for a total transaction of $7,611,873.60.
• On Thursday, August 13th, John Colgrove sold 100,000 shares of Everpure stock. The shares were sold at an average price of $117.21, for a total transaction of $11,721,000.00.
• On Tuesday, August 11th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $104.39, for a total value of $10,439,000.00.
• On Monday, August 10th, John Colgrove sold 200,000 shares of Everpure stock. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00.
• On Friday, August 7th, John Colgrove sold 35,185 shares of Everpure stock. The shares were sold at an average price of $90.01, for a total value of $3,167,001.85.
• On Tuesday, August 4th, John Colgrove sold 89,720 shares of Everpure stock. The stock was sold at an average price of $85.66, for a total transaction of $7,685,415.20.
• On Friday, July 10th, John Colgrove sold 100,000 shares of Everpure stock. The stock was sold at an average price of $79.82, for a total value of $7,982,000.00.

Everpure Stock Down 2.5%

Shares of P stock traded down $2.90 during trading hours on Tuesday, hitting $110.77. The company had a trading volume of 5,785,824 shares, compared to its average volume of 3,705,599. Everpure, Inc. has a fifty-two week low of $56.78 and a fifty-two week high of $119.10. The business’s fifty day moving average is $92.97. The firm has a market capitalization of $36.91 billion, a PE ratio of 151.73, a PEG ratio of 4.19 and a beta of 1.43.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.19 by $0.51. Everpure had a net margin of 5.94% and a return on equity of 19.06%. The business had revenue of $1.19 billion during the quarter. Everpure’s revenue for the quarter was up 37.7% compared to the same quarter last year. Equities research analysts expect that Everpure, Inc. will post 0.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on P. Piper Sandler reissued an “overweight” rating and set a $133.00 price target (up from $92.00) on shares of Everpure in a report on Thursday, August 27th. Susquehanna restated a “positive” rating and issued a $145.00 target price on shares of Everpure in a research note on Thursday, August 27th. Northland Securities boosted their price target on shares of Everpure from $90.00 to $128.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Oppenheimer reissued an “outperform” rating and set a $140.00 target price on shares of Everpure in a research note on Thursday, August 20th. Finally, Wedbush upped their price objective on Everpure from $127.00 to $130.00 and gave the stock an “outperform” rating in a 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $129.10.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in P. Andra AP fonden purchased a new stake in Everpure during the second quarter worth approximately $5,230,000. Sequoia Financial Advisors LLC acquired a new stake in Everpure in the 2nd quarter valued at $814,000. Tidal Investments LLC acquired a new stake in shares of Everpure in the second quarter valued at about $14,252,000. Van Hulzen Asset Management LLC purchased a new stake in shares of Everpure during the 2nd quarter valued at about $5,382,000. Finally, One Capital Management LLC acquired a new position in Everpure during the 2nd quarter worth approximately $2,301,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

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.