Prudential Financial Inc. cut its holdings in shares of Apergy Corp (NYSE:APY) by 43.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,056 shares of the company’s stock after selling 35,430 shares during the period. Prudential Financial Inc. owned about 0.06% of Apergy worth $1,247,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP bought a new stake in shares of Apergy in the 3rd quarter worth $3,136,000. Wells Fargo & Company MN raised its stake in shares of Apergy by 53.9% in the 3rd quarter. Wells Fargo & Company MN now owns 286,804 shares of the company’s stock worth $12,492,000 after buying an additional 100,455 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Apergy by 39.3% in the 3rd quarter. SG Americas Securities LLC now owns 20,607 shares of the company’s stock worth $898,000 after buying an additional 5,810 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Apergy in the 3rd quarter worth $5,129,000. Finally, Janus Henderson Group PLC raised its stake in shares of Apergy by 13.7% in the 3rd quarter. Janus Henderson Group PLC now owns 1,407,802 shares of the company’s stock worth $61,324,000 after buying an additional 169,799 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.
In related news, CEO Sivasankaran Somasundaram sold 893 shares of Apergy stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $41.77, for a total value of $37,300.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 1,128 shares of company stock worth $47,064 over the last 90 days. Insiders own 0.77% of the company’s stock.
Apergy (NYSE:APY) last issued its earnings results on Tuesday, February 19th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03. The business had revenue of $311.20 million for the quarter, compared to analysts’ expectations of $307.10 million. Apergy had a return on equity of 9.73% and a net margin of 7.77%. As a group, analysts anticipate that Apergy Corp will post 1.48 earnings per share for the current year.
A number of research firms have recently commented on APY. Cowen set a $42.00 price objective on Apergy and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Piper Jaffray Companies began coverage on Apergy in a research note on Wednesday, April 3rd. They issued an “overweight” rating and a $41.03 price objective on the stock. Johnson Rice raised Apergy from an “accumulate” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $48.00 in a research note on Monday, March 11th. Jefferies Financial Group lifted their target price on Apergy to $49.00 and gave the stock a “buy” rating in a report on Monday, March 4th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Apergy from a “hold” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a report on Wednesday, March 20th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Apergy currently has a consensus rating of “Buy” and a consensus price target of $45.73.
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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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