APi Group Corporation $APG Stock Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments cut its APi Group stake by 15.6% in the third quarter, selling 630,870 shares and retaining 3.42 million shares valued at approximately $132 million. Institutional investors collectively own 86.62% of the company.
• Analysts remain broadly positive, with APi Group holding a consensus “Buy” rating and an average price target of $52.71, despite some downgrades to “Hold.”
• APi Group reported quarterly revenue of $2.25 billion and earnings of $0.44 per share, exceeding analyst expectations; revenue increased 13.3% year over year. The stock recently traded at $40.65, while insiders sold 660,000 shares worth $26.4 million during the quarter.

Montrusco Bolton Investments Inc. decreased its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 15.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,420,856 shares of the company's stock after selling 630,870 shares during the period. APi Group accounts for approximately 2.1% of Montrusco Bolton Investments Inc.'s holdings, making the stock its 19th biggest holding. Montrusco Bolton Investments Inc. owned about 0.79% of APi Group worth $132,045,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its position in APi Group by 108.4% in the 3rd quarter. Avior Wealth Management LLC now owns 17,269 shares of the company's stock valued at $667,000 after acquiring an additional 8,982 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of APi Group by 55.7% during the third quarter. CoreCap Advisors LLC now owns 716 shares of the company's stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of APi Group by 7.9% during the third quarter. Artemis Investment Management LLP now owns 313,464 shares of the company's stock worth $12,100,000 after purchasing an additional 23,017 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of APi Group by 89.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,327 shares of the company's stock valued at $437,000 after purchasing an additional 4,875 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of APi Group by 16.8% during the second quarter. Sequoia Financial Advisors LLC now owns 10,670 shares of the company's stock valued at $452,000 after purchasing an additional 1,531 shares during the last quarter. Institutional investors own 86.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on APG shares. Wall Street Zen lowered APi Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Wells Fargo & Company initiated coverage on APi Group in a research report on Tuesday, August 4th. They set an "overweight" rating and a $53.00 target price for the company. Weiss Ratings lowered APi Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, October 6th. Robert W. Baird set a $47.00 price target on APi Group in a research note on Friday, July 31st. Finally, UBS Group set a $52.00 price target on APi Group in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, APi Group has a consensus rating of "Buy" and a consensus target price of $52.71.

Insider Buying and Selling at APi Group

In related news, Director Ian Ashken sold 85,072 shares of APi Group stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $40.36, for a total transaction of $3,433,505.92. Following the completion of the sale, the director directly owned 9,177,284 shares of the company's stock, valued at $370,395,182.24. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Lillie sold 285,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $39.84, for a total value of $11,354,400.00. Following the completion of the sale, the director owned 8,952,350 shares of the company's stock, valued at $356,661,624. This represents a 3.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 660,000 shares of company stock valued at $26,353,682 in the last quarter. Corporate insiders own 18.70% of the company's stock.

APi Group Trading Up 0.6%

Shares of NYSE:APG traded up $0.26 during trading on Tuesday, hitting $40.65. 1,967,535 shares of the company's stock were exchanged, compared to its average volume of 2,921,599. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The firm has a market cap of $17.57 billion, a P/E ratio of -60.67, a PEG ratio of 2.35 and a beta of 1.57. The firm has a 50-day moving average price of $40.09 and a two-hundred day moving average price of $41.71. APi Group Corporation has a 1-year low of $33.52 and a 1-year high of $49.99.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the business posted $0.39 earnings per share. APi Group's revenue was up 13.3% compared to the same quarter last year. Equities analysts predict that APi Group Corporation will post 1.72 earnings per share for the current year.

About APi Group

APi Group Corporation NYSE: APG is a global provider of industrial, commercial and infrastructure services. The company delivers specialized services that help customers design, install, maintain and repair essential systems across buildings, facilities and infrastructure assets.

APi Group's operations include fire protection and life-safety services, heating, ventilation and air conditioning, electrical and communications work, utility and infrastructure services, industrial maintenance, specialty contracting and other facility services.

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