APi Group Corporation $APG Shares Sold by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System cut its APi Group stake by 14.6% in Q4, selling 33,490 shares and leaving 195,892 shares valued at $7.495 million.
• Insiders have been net sellers—Ian Ashken sold 114,409 shares and Martin Franklin sold 3,000,000 shares—and insiders disposed of 3,682,000 shares (about $152.3M) in the last 90 days, while institutional ownership is high at 86.62%.
• APi Group beat the quarter with EPS of $0.32 versus $0.30 and revenue of $1.98B (+15.3% YoY); the stock opened at $45.57, trades near its 52-week high, and carries a consensus "Moderate Buy" with an average target of $51.86.

New York State Teachers Retirement System decreased its holdings in APi Group Corporation (NYSE:APG - Free Report) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 195,892 shares of the company's stock after selling 33,490 shares during the period. New York State Teachers Retirement System's holdings in APi Group were worth $7,495,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in APi Group by 49.6% in the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock valued at $1,207,719,000 after acquiring an additional 11,644,990 shares during the last quarter. Durable Capital Partners LP raised its holdings in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock valued at $512,050,000 after acquiring an additional 4,274,610 shares during the last quarter. Viking Global Investors LP increased its holdings in shares of APi Group by 6.7% during the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company's stock worth $422,967,000 after buying an additional 768,759 shares during the last quarter. State Street Corp increased its holdings in shares of APi Group by 50.6% during the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company's stock worth $370,226,000 after buying an additional 3,620,931 shares during the last quarter. Finally, Findlay Park Partners LLP increased its holdings in shares of APi Group by 13.1% during the 3rd quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company's stock worth $259,152,000 after buying an additional 873,420 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

APi Group Stock Up 2.0%

APi Group stock opened at $45.57 on Wednesday. APi Group Corporation has a fifty-two week low of $27.97 and a fifty-two week high of $49.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44. The firm has a 50 day moving average price of $43.71 and a 200 day moving average price of $41.02. The company has a market capitalization of $19.74 billion, a PE ratio of -64.18, a price-to-earnings-growth ratio of 2.64 and a beta of 1.67.

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

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 114,409 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $43.12, for a total value of $4,933,316.08. Following the completion of the transaction, the director owned 10,633,830 shares of the company's stock, valued at $458,530,749.60. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Martin E. Franklin sold 3,000,000 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the transaction, the director directly owned 21,240,426 shares of the company's stock, valued at $868,308,614.88. This represents a 12.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,682,000 shares of company stock valued at $152,333,385 in the last 90 days. Company insiders own 18.70% of the company's stock.

Analysts Set New Price Targets

APG has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of APi Group from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup restated a "buy" rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a report on Friday. Robert W. Baird set a $52.00 price target on shares of APi Group in a report on Friday. Finally, Royal Bank Of Canada raised their price target on shares of APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, APi Group currently has an average rating of "Moderate Buy" and an average price target of $51.86.

APi Group Company Profile

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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