Janus Henderson Group PLC raised its holdings in shares of APi Group Corporation (NYSE:APG – Free Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,116,168 shares of the company’s stock after purchasing an additional 887,729 shares during the quarter. Janus Henderson Group PLC owned 5.56% of APi Group worth $884,409,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in APi Group in the first quarter valued at about $650,000. Goldman Sachs Group Inc. boosted its position in 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 buying an additional 75,490 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in 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 buying an additional 1,078 shares during the last quarter. First Trust Advisors LP boosted its position in APi Group by 166.5% in the 2nd quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock worth $8,861,000 after purchasing an additional 108,447 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in APi Group by 5.7% in the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock worth $577,000 after purchasing an additional 612 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays reissued an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Finally, UBS Group raised their price objective on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.14.
Insider Activity
In related news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was 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 in the company, valued at approximately $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James E. Lillie sold 59,461 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total value of $2,705,475.50. Following the sale, the director owned 9,237,350 shares of the company’s stock, valued at $420,299,425. This represents a 0.64% decrease in their ownership of the stock. 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 3,444,000 shares of company stock worth $148,897,645 over the last three months. 18.70% of the stock is currently owned by corporate insiders.
APi Group Trading Down 1.5%
APG opened at $41.86 on Thursday. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of -58.95, a price-to-earnings-growth ratio of 2.49 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. The business’s 50 day moving average is $43.98 and its two-hundred day moving average is $42.37. APi Group Corporation has a 52 week low of $31.95 and a 52 week high of $49.99.
APi Group (NYSE:APG – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts predict that APi Group Corporation will post 1.7 EPS for the current year.
About APi Group
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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