River Road Asset Management LLC Reduces Stock Holdings in APi Group Corporation $APG

Key Points

• River Road Asset Management cut its APi Group stake by 38.6% in the fourth quarter, selling 151,157 shares and leaving it with 240,642 shares valued at about $9.2 million.
• APi Group’s latest quarterly results beat expectations, with EPS of $0.32 versus $0.30 forecast and revenue of $1.98 billion, up 15.3% year over year.
• Insider selling was notable, including Director Martin E. Franklin’s sale of 2 million shares for about $84.2 million; meanwhile, analysts currently view the stock as a Moderate Buy with a consensus price target of $52.14.

River Road Asset Management LLC cut its stake in shares of APi Group Corporation (NYSE:APG - Free Report) by 38.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 240,642 shares of the company's stock after selling 151,157 shares during the period. River Road Asset Management LLC owned approximately 0.06% of APi Group worth $9,207,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of APi Group during the first quarter valued at approximately $650,000. Goldman Sachs Group Inc. boosted its stake in shares of APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company's stock valued at $6,369,000 after purchasing an additional 75,490 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company's stock valued at $65,000 after purchasing an additional 1,078 shares during the period. First Trust Advisors LP grew its holdings in APi Group by 166.5% during the 2nd quarter. First Trust Advisors LP now owns 173,569 shares of the company's stock valued at $8,861,000 after purchasing an additional 108,447 shares in the last quarter. Finally, Cresset Asset Management LLC grew its holdings in APi Group by 5.7% during the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company's stock valued at $577,000 after purchasing an additional 612 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

APi Group Price Performance

Shares of NYSE APG opened at $42.55 on Friday. APi Group Corporation has a twelve month low of $32.70 and a twelve month high of $49.99. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $18.43 billion, a price-to-earnings ratio of -59.93, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. The business has a 50 day simple moving average of $43.97 and a 200-day simple moving average of $42.39.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the company posted $0.37 EPS. The business's revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts expect that APi Group Corporation will post 1.7 earnings per share for the current year.

Insider Buying and Selling at APi Group

In other news, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the transaction, the director directly owned 19,240,426 shares of the company's stock, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James E. Lillie sold 59,461 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the sale, the director directly owned 9,237,350 shares of the company's stock, valued at approximately $420,299,425. This represents a 0.64% 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 sold a total of 3,444,000 shares of company stock worth $148,897,645 over the last 90 days. Insiders own 18.70% of the company's stock.

Wall Street Analyst Weigh In

APG has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Truist Financial set a $55.00 target price on APi Group and gave the company a "buy" rating in a research note on Friday, May 1st. Robert W. Baird set a $52.00 price target on APi Group in a research note on Friday, May 1st. Citigroup restated a "buy" rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Finally, Weiss Ratings downgraded APi Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.14.

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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