Meridian Wealth Management LLC Makes New $945,000 Investment in Everpure, Inc. $P

Meridian Wealth Management LLC acquired a new position in shares of Everpure, Inc. (NYSE:P) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 14,102 shares of the company’s stock, valued at approximately $945,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP lifted its stake in shares of Everpure by 69.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,751,558 shares of the company’s stock valued at $146,798,000 after purchasing an additional 717,834 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Everpure by 96.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,166 shares of the company’s stock valued at $2,612,000 after purchasing an additional 15,286 shares during the last quarter. AlTi Global Inc. acquired a new position in shares of Everpure in the 3rd quarter valued at $2,517,000. ARK Investment Management LLC raised its holdings in shares of Everpure by 12.6% in the 3rd quarter. ARK Investment Management LLC now owns 347,093 shares of the company’s stock valued at $29,090,000 after buying an additional 38,768 shares during the period. Finally, RBA Wealth Management LLC purchased a new stake in shares of Everpure in the 3rd quarter valued at $5,964,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Everpure Trading Up 1.4%

P stock opened at $84.52 on Thursday. Everpure, Inc. has a 12-month low of $50.20 and a 12-month high of $100.59. The firm has a market capitalization of $27.93 billion, a P/E ratio of 153.68, a PEG ratio of 6.22 and a beta of 1.44.

Everpure (NYSE:P) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. Everpure had a return on equity of 14.36% and a net margin of 5.14%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business earned $0.45 EPS. Everpure’s revenue was up 20.4% on a year-over-year basis. On average, research analysts expect that Everpure, Inc. will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other Everpure news, insider John Colgrove sold 200,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $85.93, for a total transaction of $17,186,000.00. Following the sale, the insider owned 6,625,221 shares in the company, valued at $569,305,240.53. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 534,265 shares of company stock worth $41,321,234. 5.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Northland Securities upgraded Everpure from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $77.00 to $81.00 in a report on Monday, March 9th. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective on shares of Everpure in a report on Monday, February 23rd. Citigroup cut their price objective on Everpure from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Wells Fargo & Company cut their price objective on Everpure from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. Finally, Wall Street Zen upgraded Everpure from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.21.

Everpure Profile

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.