First Manhattan CO. LLC. Cuts Stock Holdings in APi Group Corporation $APG

Key Points

• First Manhattan CO. LLC. has significantly reduced its holdings in APi Group Corporation by 60.8%, selling 16,850 shares and now owning 10,867 shares valued at approximately $389,000.
• Several institutional investors, such as Durable Capital Partners LP and T. Rowe Price Investment Management Inc., have increased their stakes in APi Group during the same period, indicating potential confidence in the stock.
• Wall Street analysts have raised their target prices for APi Group, with Truist Financial and JPMorgan Chase both upgrading their price targets to $36.00 and $42.00, suggesting a consensus on the stock’s growth potential.

First Manhattan CO. LLC. reduced its position in shares of APi Group Corporation (NYSE:APG - Free Report) by 60.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,867 shares of the company's stock after selling 16,850 shares during the period. First Manhattan CO. LLC.'s holdings in APi Group were worth $389,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in APi Group by 4.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company's stock worth $581,073,000 after buying an additional 621,761 shares in the last quarter. Janus Henderson Group PLC increased its stake in APi Group by 19.2% during the 4th quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company's stock worth $359,811,000 after buying an additional 1,611,744 shares in the last quarter. Durable Capital Partners LP increased its stake in APi Group by 78.0% during the 1st quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock worth $318,663,000 after buying an additional 3,903,632 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in APi Group by 75.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock worth $241,997,000 after buying an additional 2,906,783 shares in the last quarter. Finally, Findlay Park Partners LLP increased its stake in APi Group by 1.4% during the 1st quarter. Findlay Park Partners LLP now owns 6,445,948 shares of the company's stock worth $230,507,000 after buying an additional 86,600 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on APG shares. Truist Financial boosted their target price on APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Robert W. Baird boosted their target price on APi Group from $31.33 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Barclays restated an "overweight" rating and set a $42.00 target price (up from $40.00) on shares of APi Group in a report on Monday, August 4th. JPMorgan Chase & Co. upgraded APi Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $31.00 to $42.00 in a report on Tuesday, July 15th. Finally, UBS Group boosted their target price on APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $36.10.

APi Group Trading Down 0.6%

APG opened at $34.62 on Thursday. APi Group Corporation has a one year low of $20.50 and a one year high of $36.55. The stock has a market capitalization of $14.40 billion, a PE ratio of 108.18 and a beta of 1.61. The business's 50 day moving average price is $34.89 and its 200 day moving average price is $29.85. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.37 and a current ratio of 1.45.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. APi Group had a return on equity of 21.33% and a net margin of 3.35%.The firm had revenue of $1.99 billion for the quarter, compared to analysts' expectations of $1.88 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm's quarterly revenue was up 15.0% on a year-over-year basis. APi Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts expect that APi Group Corporation will post 1.83 EPS for the current year.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 205,550 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $35.24, for a total value of $7,243,582.00. Following the sale, the director owned 7,968,167 shares of the company's stock, valued at $280,798,205.08. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Lillie sold 95,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $35.23, for a total value of $3,346,850.00. Following the completion of the sale, the director directly owned 7,348,101 shares in the company, valued at approximately $258,873,598.23. The trade was a 1.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 589,843 shares of company stock valued at $20,694,672 over the last quarter. 17.00% of the stock is owned by company insiders.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.

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