Everpure, Inc. $P Position Raised by Clearbridge Investments LLC

Clearbridge Investments LLC increased its position in shares of Everpure, Inc. (NYSE:P) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 713,951 shares of the company’s stock after purchasing an additional 13,447 shares during the period. Clearbridge Investments LLC owned 0.22% of Everpure worth $47,842,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Provenance Wealth Advisors LLC acquired a new position in Everpure in the third quarter worth approximately $27,000. Sunbelt Securities Inc. grew 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 buying an additional 244 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new position in Everpure in the third quarter worth approximately $28,000. Assetmark Inc. grew its position in Everpure by 186.6% in the third quarter. Assetmark Inc. now owns 341 shares of the company’s stock worth $29,000 after buying an additional 222 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new position in Everpure in the third quarter worth approximately $29,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on P shares. Piper Sandler restated an “overweight” rating on shares of Everpure in a research report on Thursday, May 28th. William Blair restated an “outperform” rating on shares of Everpure in a research report on Thursday, May 28th. Weiss Ratings started coverage on shares of Everpure in a research report on Monday, April 20th. They issued a “hold (c)” rating on the stock. Wall Street Zen upgraded shares of Everpure from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 30th. Finally, Wedbush lifted their price target on shares of Everpure from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.32.

Insiders Place Their Bets

In other Everpure news, insider John Colgrove sold 200,000 shares of Everpure stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the transaction, the insider directly owned 6,625,221 shares in the company, valued at approximately $569,305,240.53. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 544,545 shares of company stock worth $42,198,324. Insiders own 5.10% of the company’s stock.

Everpure Stock Performance

NYSE P opened at $69.93 on Wednesday. Everpure, Inc. has a twelve month low of $50.20 and a twelve month high of $100.59. The company has a market cap of $23.11 billion, a price-to-earnings ratio of 105.95, a PEG ratio of 4.17 and a beta of 1.44.

Everpure (NYSE:P) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.07. Everpure had a net margin of 5.75% and a return on equity of 15.97%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $997.88 million. During the same period in the previous year, the company posted $0.29 EPS. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, equities analysts expect that Everpure, Inc. will post 0.92 earnings per share for the current year.

About Everpure

Pure Storage, Inc provides data storage technologies, products, and services in the United States and internationally. The company’s Purity software is shared across its products and provides enterprise-class data services, such as data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object. Its products portfolio includes FlashArray for block-oriented storage, addressing databases, applications, virtual machines, and other traditional workloads; FlashArray//XL; and FlashArray//C, an all-QLC flash array.