Wellington Management Group LLP Makes New Investment in Everpure, Inc. $P

Wellington Management Group LLP bought a new position in Everpure, Inc. (NYSE:P) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 27,821 shares of the company’s stock, valued at approximately $2,192,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Paradigm Capital Management Inc. NY bought a new stake in shares of Everpure during the 2nd quarter valued at $2,127,000. S&CO Inc. bought a new position in shares of Everpure in the 2nd quarter worth about $15,003,000. ClearAlpha Technologies LP bought a new position in shares of Everpure in the 4th quarter worth about $971,000. National Pension Service lifted its position in Everpure by 782.9% during the 4th quarter. National Pension Service now owns 665,667 shares of the company’s stock valued at $44,606,000 after acquiring an additional 590,274 shares during the period. Finally, Geode Capital Management LLC lifted its position in Everpure by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 7,716,158 shares of the company’s stock valued at $515,972,000 after acquiring an additional 207,317 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Everpure Stock Performance

Shares of NYSE:P opened at $94.13 on Friday. Everpure, Inc. has a 1 year low of $56.78 and a 1 year high of $119.10. The company has a market capitalization of $31.29 billion, a P/E ratio of 128.95, a P/E/G ratio of 3.90 and a beta of 1.43. The firm’s fifty day simple moving average is $89.67.

Everpure (NYSE:P) last released its quarterly earnings data 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 company had revenue of $1.19 billion during the quarter. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. On average, sell-side analysts expect that Everpure, Inc. will post 0.96 EPS for the current year.

Insider Activity at Everpure

In other news, insider Ajay Singh sold 9,787 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were 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 of the company’s stock, valued at $26,634,154.68. The trade was 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, Director Susan J.S. Taylor sold 8,543 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $81.74, for a total transaction of $698,304.82. Following the transaction, the director owned 94,608 shares in the company, valued at approximately $7,733,257.92. This trade represents a 8.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 717,520 shares of company stock valued at $70,172,896 over the last ninety days. Company insiders own 5.10% of the company’s stock.

Analyst Ratings Changes

P has been the topic of a number of recent research reports. Needham & Company LLC upped their price objective on shares of Everpure from $100.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Wells Fargo & Company raised their price objective on Everpure from $97.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. DA Davidson set a $100.00 price objective on Everpure in a research note on Wednesday, July 1st. Guggenheim reissued a “buy” rating and issued a $150.00 target price on shares of Everpure in a research note on Thursday, August 27th. Finally, Barclays upped their price target on shares of Everpure from $84.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Everpure currently has an average rating of “Moderate Buy” and an average price target of $129.10.

Everpure 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.