Clearbridge Investments LLC Sells 127,551 Shares of APi Group Corporation $APG

Key Points

• Clearbridge Investments reduced its APi Group stake by 3.1% in the fourth quarter, selling 127,551 shares and leaving it with 3,960,744 shares worth about $151.5 million.
• Insider selling has been significant: director James E. Lillie sold 225,539 shares, and Martin E. Franklin sold 3 million shares, bringing total insider sales over the last 90 days to 4,444,000 shares.
• APi Group is getting favorable analyst coverage, with multiple firms raising price targets and maintaining buy ratings; the consensus rating is “Moderate Buy” with an average target of $52.14.

Clearbridge Investments LLC trimmed its position in APi Group Corporation (NYSE:APG - Free Report) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,960,744 shares of the company's stock after selling 127,551 shares during the quarter. Clearbridge Investments LLC owned about 0.95% of APi Group worth $151,538,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of APi Group by 49.6% in the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock worth $1,207,719,000 after purchasing an additional 11,644,990 shares during the last quarter. Durable Capital Partners LP increased its holdings in shares of APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock worth $512,050,000 after purchasing 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% in the third quarter. Viking Global Investors LP now owns 12,306,277 shares of the company's stock worth $422,967,000 after purchasing an additional 768,759 shares during the last quarter. State Street Corp increased its holdings in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company's stock worth $370,226,000 after purchasing 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% in the third quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company's stock worth $259,152,000 after purchasing an additional 873,420 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

Insider Activity

In other news, Director James E. Lillie sold 225,539 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director owned 9,296,811 shares of the company's stock, valued at approximately $417,147,909.57. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 3,000,000 shares of the company'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 value of $122,640,000.00. Following the transaction, the director directly owned 21,240,426 shares in the company, valued at approximately $868,308,614.88. This represents a 12.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 4,444,000 shares of company stock valued at $187,377,645. 18.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group lifted their target price on APi Group from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Citigroup reaffirmed a "buy" rating and issued a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Royal Bank Of Canada lifted their target price on APi Group from $45.00 to $53.00 and gave the stock an "outperform" rating in a report on Thursday, February 26th. Truist Financial set a $55.00 price objective on APi Group and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised APi Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $52.14.

APi Group Trading Up 0.2%

APG opened at $42.06 on Monday. The stock has a market cap of $18.22 billion, a price-to-earnings ratio of -59.23, a P/E/G ratio of 2.47 and a beta of 1.60. The stock's 50 day moving average price is $43.78 and its 200-day moving average price is $42.12. APi Group Corporation has a one year low of $31.40 and a one year 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.

APi Group (NYSE:APG - Get Free Report) last released 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. The firm had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that APi Group Corporation will post 1.7 EPS for the current year.

APi Group 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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