Welch & Forbes LLC Decreases Stake in Apergy Corp (APY)

Welch & Forbes LLC decreased its stake in shares of Apergy Corp (NYSE:APY) by 6.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 78,830 shares of the company’s stock after selling 5,541 shares during the quarter. Welch & Forbes LLC’s holdings in Apergy were worth $3,434,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its position in Apergy by 34.2% during the third quarter. Nisa Investment Advisors LLC now owns 44,867 shares of the company’s stock worth $1,954,000 after buying an additional 11,425 shares in the last quarter. First Hawaiian Bank purchased a new position in Apergy during the third quarter worth approximately $209,000. Butensky & Cohen Financial Security Inc. purchased a new position in Apergy during the third quarter worth approximately $380,000. Fruth Investment Management purchased a new position in Apergy during the third quarter worth approximately $222,000. Finally, Endurance Wealth Management Inc. purchased a new position in Apergy during the third quarter worth approximately $119,000. Hedge funds and other institutional investors own 93.05% of the company’s stock.

APY stock opened at $41.09 on Friday. 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 Corp has a 52-week low of $33.35 and a 52-week high of $46.11.

Apergy (NYSE:APY) last posted 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 business had revenue of $305.93 million during the quarter, compared to the consensus estimate of $296.70 million. Research analysts forecast that Apergy Corp will post 1.43 EPS for the current fiscal year.

A number of brokerages recently commented on APY. Jefferies Financial Group began coverage on Apergy in a research report on Tuesday, July 17th. They set a “buy” rating and a $50.00 price objective on the stock. Zacks Investment Research upgraded Apergy from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Monday, September 17th. Citigroup lifted their price objective on Apergy from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Cowen lifted their price objective on Apergy from $37.00 to $39.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 7th. Finally, Wolfe Research began coverage on Apergy in a research report on Wednesday, October 10th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Apergy has an average rating of “Buy” and a consensus price target of $46.50.

Apergy Company Profile

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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Institutional Ownership by Quarter for Apergy (NYSE:APY)

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