Neuberger Berman Group LLC boosted its stake in Apergy Corp (NYSE:APY) by 8.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,729,678 shares of the company’s stock after buying an additional 138,145 shares during the period. Neuberger Berman Group LLC’s holdings in Apergy were worth $71,021,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in APY. Oregon Public Employees Retirement Fund grew its position in Apergy by 2,643.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 837,016 shares of the company’s stock valued at $31,000 after buying an additional 806,508 shares in the last quarter. Norges Bank bought a new position in Apergy in the 4th quarter valued at about $16,533,000. Van ECK Associates Corp grew its position in Apergy by 67.7% in the 4th quarter. Van ECK Associates Corp now owns 1,479,528 shares of the company’s stock valued at $40,066,000 after buying an additional 597,451 shares in the last quarter. Boston Partners boosted its position in shares of Apergy by 10.3% during the 4th quarter. Boston Partners now owns 5,795,996 shares of the company’s stock valued at $156,956,000 after purchasing an additional 540,246 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted 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 purchasing an additional 386,500 shares in the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.
Shares of NYSE:APY traded down $1.32 during trading hours on Wednesday, hitting $30.75. 121,880 shares of the company’s stock traded hands, compared to its average volume of 494,267. Apergy Corp has a 52 week low of $25.85 and a 52 week high of $46.11. The company has a current ratio of 2.53, a quick ratio of 1.44 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.54 billion and a price-to-earnings ratio of 21.35.
Several equities analysts have recently weighed in on APY shares. Jefferies Financial Group raised their price objective on shares of 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. Cowen set a $42.00 price objective on shares of Apergy and gave the company a “buy” rating in a research report on Wednesday, February 20th. Wells Fargo & Co started coverage on shares of Apergy in a research report on Monday, March 4th. They set an “outperform” rating and a $52.00 price objective for the company. Zacks Investment Research upgraded shares of Apergy from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Finally, Johnson Rice upgraded shares of Apergy from an “accumulate” rating to a “buy” rating and raised their price objective for the company from $45.00 to $48.00 in a research report on Monday, March 11th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $45.80.
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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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