California State Teachers Retirement System Takes $2.96 Billion Position in Everpure, Inc. $P

California State Teachers Retirement System purchased a new stake in shares of Everpure, Inc. (NYSE:P) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 37,621,201 shares of the company’s stock, valued at approximately $2,964,174,000. California State Teachers Retirement System owned about 0.11% of Everpure at the end of the most recent quarter.

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

Insider Buying and Selling at Everpure

In other news, insider Ajay Singh sold 9,787 shares of Everpure stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $78.12, for a total value of $764,560.44. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $96.98, for a total transaction of $19,396,000.00. Following the completion of the transaction, the insider 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 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 have sold 717,520 shares of company stock worth $70,172,896 over the last ninety days. Company insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on P shares. Piper Sandler restated an “overweight” rating and set a $133.00 price objective (up from $92.00) on shares of Everpure in a report on Thursday, August 27th. Needham & Company LLC boosted their target price on shares of Everpure from $100.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. William Blair reissued an “outperform” rating on shares of Everpure in a research report on Thursday, May 28th. UBS Group increased their target price on shares of Everpure from $70.00 to $80.00 and gave the company a “sell” rating in a research report on Thursday, August 27th. Finally, Wall Street Zen upgraded shares of Everpure from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $129.10.

Everpure Price Performance

Shares of NYSE P opened at $94.13 on Friday. The stock has a market cap of $31.29 billion, a PE ratio of 128.95, a PEG ratio of 3.90 and a beta of 1.43. Everpure, Inc. has a one year low of $56.78 and a one year high of $119.10. The company’s fifty day moving average price is $89.67.

Everpure (NYSE:P) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $0.70 earnings per share 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 company had revenue of $1.19 billion during the quarter. Everpure’s quarterly revenue was up 37.7% on a year-over-year basis. As a group, research analysts forecast that Everpure, Inc. will post 0.96 earnings per share for the current fiscal year.

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.