Franklin Resources Inc. Buys 666,941 Shares of Everpure, Inc. $P

Franklin Resources Inc. lifted its stake in shares of Everpure, Inc. (NYSE:P) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,007,431 shares of the company’s stock after acquiring an additional 666,941 shares during the quarter. Franklin Resources Inc. owned approximately 0.91% of Everpure worth $201,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in P. Norges Bank bought a new position in shares of Everpure during the fourth quarter worth about $265,327,000. Arrowstreet Capital Limited Partnership raised its position in shares of Everpure by 786.9% during the third quarter. Arrowstreet Capital Limited Partnership now owns 4,027,610 shares of the company’s stock worth $337,554,000 after acquiring an additional 3,573,493 shares during the last quarter. Atreides Management LP bought a new position in shares of Everpure during the second quarter worth about $204,552,000. Polar Capital Holdings Plc raised its position in shares of Everpure by 90.5% during the third quarter. Polar Capital Holdings Plc now owns 2,831,141 shares of the company’s stock worth $237,278,000 after acquiring an additional 1,345,207 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Everpure by 158.4% during the second quarter. AQR Capital Management LLC now owns 1,938,125 shares of the company’s stock worth $110,473,000 after acquiring an additional 1,188,126 shares during the last quarter. 83.42% of the stock is currently owned by institutional investors.

Everpure Stock Down 5.2%

Shares of Everpure stock opened at $69.93 on Wednesday. Everpure, Inc. has a 52 week low of $50.20 and a 52 week high of $100.59. The company has a market capitalization 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 announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.07. Everpure had a return on equity of 15.97% and a net margin of 5.75%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $997.88 million. During the same quarter last year, the firm posted $0.29 earnings per share. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, research analysts predict that Everpure, Inc. will post 0.92 EPS for the current year.

Insider Buying and Selling

In other Everpure news, insider John Colgrove sold 10,280 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $85.32, for a total value of $877,089.60. Following the completion of the sale, the insider owned 6,614,941 shares of the company’s stock, valued at approximately $564,386,766.12. This trade represents a 0.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 544,545 shares of company stock valued at $42,198,324 over the last ninety days. Company insiders own 5.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on P. Citigroup downgraded Everpure from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research report on Thursday, May 14th. William Blair restated an “outperform” rating on shares of Everpure in a research report on Thursday, May 28th. Barclays raised their price objective on Everpure from $81.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. lifted their target price on Everpure from $80.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Wedbush lifted their target price on Everpure from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, May 28th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Everpure currently has a consensus rating of “Moderate Buy” and an average price target of $96.32.

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.