APi Group (NYSE:APG) Director Sells $2,981,141.66 in Stock

Key Points

• Director Ian Ashken sold $2.98M worth of APi stock (65,534 shares) on May 5 under a pre-arranged Rule 10b5-1 plan; he still owns 9,477,284 shares (~$431.1M), a 0.69% reduction in his position.
• APi beat expectations for the quarter with EPS of $0.32 (vs. $0.30 est.) and revenue of $1.98B, up 15.3% year-over-year, and the stock traded up about 1.8% to $46.42 on the news.
• Analysts are generally positive—consensus rating is a Moderate Buy with an average target of $51.86 (several firms raised targets to $52–$53)—and institutional investors own roughly 86.6% of the shares, with major funds increasing stakes.

APi Group Corporation (NYSE:APG - Get Free Report) Director Ian Ashken sold 65,534 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the transaction, the director directly owned 9,477,284 shares in the company, valued at approximately $431,121,649.16. This represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Trading Up 1.8%

Shares of APG stock traded up $0.83 during mid-day trading on Wednesday, reaching $46.42. The company's stock had a trading volume of 3,071,772 shares, compared to its average volume of 2,898,728. The company's 50 day simple moving average is $43.71 and its 200-day simple moving average is $41.02. APi Group Corporation has a 12-month low of $28.36 and a 12-month high of $49.99. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $20.11 billion, a PE ratio of -65.38, a price-to-earnings-growth ratio of 2.64 and a beta of 1.67.

APi Group (NYSE:APG - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the firm posted $0.37 EPS. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts predict that APi Group Corporation will post 1.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on APG shares. Royal Bank Of Canada raised their target price on shares of APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Citigroup reissued a "buy" rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a research note on Saturday. Barclays raised their target price on shares of APi Group from $44.00 to $52.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Finally, Robert W. Baird set a $52.00 price target on shares of APi Group in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, APi Group currently has a consensus rating of "Moderate Buy" and an average target price of $51.86.

Institutional Investors Weigh In On APi Group

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock valued at $1,207,719,000 after purchasing an additional 11,644,990 shares in the last quarter. Janus Henderson Group PLC grew its holdings in APi Group by 4.0% during the 4th quarter. Janus Henderson Group PLC now owns 23,116,168 shares of the company's stock valued at $884,409,000 after purchasing an additional 887,729 shares in the last quarter. Durable Capital Partners LP grew its holdings in APi Group by 40.2% during the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock valued at $512,050,000 after purchasing an additional 4,274,610 shares in the last quarter. Viking Global Investors LP grew its holdings in APi Group by 6.7% during the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company's stock valued at $422,967,000 after purchasing an additional 768,759 shares in the last quarter. Finally, State Street Corp grew its holdings in APi Group by 0.8% during the 4th quarter. State Street Corp now owns 10,863,164 shares of the company's stock valued at $415,625,000 after purchasing an additional 91,388 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.

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