APi Group Corporation $APG Shares Sold by Strs Ohio

Key Points

• Strs Ohio cut its APi Group stake by 27.9% in the first quarter, selling 87,482 shares and leaving it with 225,694 shares valued at about $9.15 million.
• Wall Street sentiment remains positive, with several analysts raising price targets and the stock carrying an average rating of “Moderate Buy” and an average target price of $52.14.
• APi Group reported stronger-than-expected quarterly results, posting EPS of $0.32 versus $0.30 expected and revenue of $1.98 billion, up 15.3% year over year.

Strs Ohio reduced its stake in APi Group Corporation (NYSE:APG - Free Report) by 27.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 225,694 shares of the company's stock after selling 87,482 shares during the quarter. Strs Ohio owned approximately 0.05% of APi Group worth $9,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of APi Group in the fourth quarter valued at about $181,066,000. Durable Capital Partners LP increased its holdings in shares of APi Group by 40.2% during the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock worth $512,050,000 after buying an additional 4,274,610 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. Invesco Ltd. lifted its holdings in APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company's stock valued at $175,627,000 after acquiring an additional 3,535,682 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in APi Group in the fourth quarter worth approximately $132,125,000. 86.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays restated an "overweight" rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Truist Financial set a $55.00 price objective on APi Group and gave the stock a "buy" rating in a research 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, May 2nd. Robert W. Baird set a $52.00 target price on shares of APi Group in a research note on Friday, May 1st. Finally, UBS Group lifted their price target on shares of APi Group from $54.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, APi Group currently has an average rating of "Moderate Buy" and an average price target of $52.14.

Insider Transactions at APi Group

In other news, Director Anthony E. Malkin sold 7,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the completion of the transaction, the director directly owned 9,542,818 shares of the company's stock, valued at approximately $426,850,249.14. The trade was a 9.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is owned by insiders.

APi Group Trading Down 0.1%

APG opened at $41.95 on Monday. APi Group Corporation has a 52 week low of $33.40 and a 52 week high of $49.99. The business has a fifty day simple moving average of $43.12 and a 200-day simple moving average of $42.60. The firm has a market cap of $18.17 billion, a P/E ratio of -59.08, a P/E/G ratio of 2.46 and a beta of 1.60. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the business earned $0.37 EPS. The company's quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts expect that APi Group Corporation will post 1.7 earnings per share for the current year.

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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