California Public Employees Retirement System acquired a new position in Apergy Corp (NYSE:APY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 160,353 shares of the company’s stock, valued at approximately $6,695,000. California Public Employees Retirement System owned 0.21% of Apergy as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new position in shares of Apergy in the second quarter worth about $105,000. Trust Co. of Vermont bought a new position in shares of Apergy in the second quarter worth about $114,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in shares of Apergy in the second quarter worth about $119,000. CIBC Private Wealth Group LLC bought a new position in shares of Apergy in the second quarter worth about $122,000. Finally, Asset Advisors Corp bought a new position in shares of Apergy in the second quarter worth about $125,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on APY shares. Citigroup lifted their target price on Apergy from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Jefferies Financial Group started coverage on Apergy in a research note on Tuesday, July 17th. They set a “buy” rating and a $50.00 target price on the stock. Zacks Investment Research downgraded Apergy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Cowen lifted their target price on Apergy from $37.00 to $39.00 and gave the company a “market perform” rating in a research note on Tuesday, August 7th. Finally, Wolfe Research started coverage on Apergy in a research note on Wednesday. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $46.50.
Shares of APY opened at $42.45 on Friday. Apergy Corp has a 12-month low of $33.35 and a 12-month high of $46.11. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.36 and a current ratio of 2.31.
Apergy (NYSE:APY) last issued its earnings results on Thursday, July 26th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $305.93 million during the quarter, compared to the consensus estimate of $296.70 million. On average, analysts forecast that Apergy Corp will post 1.42 earnings per share for the current fiscal year.
Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through Production & Automation Technologies and Drilling Technologies segments. 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, as well as automation equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.
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