Gallagher Fiduciary Advisors LLC decreased its holdings in Apergy Corp (NYSE:APY) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,032,827 shares of the company’s stock after selling 110,237 shares during the quarter. Apergy makes up 5.6% of Gallagher Fiduciary Advisors LLC’s portfolio, making the stock its 5th biggest position. Gallagher Fiduciary Advisors LLC owned 1.33% of Apergy worth $42,408,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its position in shares of Apergy by 5.9% during the 1st quarter. Rockefeller Capital Management L.P. now owns 19,292 shares of the company’s stock valued at $792,000 after acquiring an additional 1,067 shares during the last quarter. Fiera Capital Corp lifted its position in shares of Apergy by 0.7% during the 1st quarter. Fiera Capital Corp now owns 596,304 shares of the company’s stock valued at $24,484,000 after acquiring an additional 4,031 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Apergy by 460.7% during the 1st quarter. TimesSquare Capital Management LLC now owns 470,400 shares of the company’s stock valued at $19,315,000 after acquiring an additional 386,500 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Apergy during the 1st quarter valued at $262,000. Finally, Bremer Bank National Association acquired a new stake in shares of Apergy during the 1st quarter valued at $41,000. Institutional investors and hedge funds own 92.25% of the company’s stock.
A number of equities research analysts have recently commented on APY shares. Jefferies Financial Group increased their price objective on Apergy to $49.00 and gave the company a “buy” rating in a research report on Monday, March 4th. They noted that the move was a valuation call. Johnson Rice raised shares of Apergy from an “accumulate” rating to a “buy” rating and boosted their target price for the company from $45.00 to $48.00 in a research note on Monday, March 11th. Wells Fargo & Co initiated coverage on shares of Apergy in a research note on Monday, March 4th. They set an “outperform” rating and a $52.00 target price on the stock. Piper Jaffray Companies initiated coverage on shares of Apergy in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $41.03 price target on the stock. Finally, Bank of America reaffirmed a “buy” rating and issued a $40.00 price target (down from $51.00) on shares of Apergy in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Apergy presently has a consensus rating of “Buy” and an average target price of $44.00.
APY stock traded up $0.84 during midday trading on Wednesday, reaching $32.27. The company’s stock had a trading volume of 431,619 shares, compared to its average volume of 502,773. Apergy Corp has a 52 week low of $25.85 and a 52 week high of $46.11. The stock has a market capitalization of $2.42 billion and a PE ratio of 22.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.44 and a current ratio of 2.53. The stock’s 50-day moving average price is $33.06.
Apergy (NYSE:APY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $301.70 million for the quarter, compared to analysts’ expectations of $301.37 million. Apergy had a net margin of 7.47% and a return on equity of 11.40%. Apergy’s quarterly revenue was up 6.6% on a year-over-year basis. Analysts predict that Apergy Corp will post 1.47 earnings per share for the current year.
Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.
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