Y.D. More Investments Ltd bought a new position in shares of APi Group Corporation (NYSE:APG – Free Report) during the first quarter, Holdings Channel.com reports. The fund bought 14,888 shares of the company’s stock, valued at approximately $603,000.
Several other institutional investors and hedge funds have also made changes to their positions in APG. Sound Income Strategies LLC acquired a new stake in shares of APi Group in the 4th quarter valued at about $27,000. Silicon Valley Capital Partners grew its stake in APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after buying an additional 286 shares during the last quarter. Parallel Advisors LLC increased its position in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares during the period. Caitong International Asset Management Co. Ltd increased its position in APi Group by 1,851.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the period. Finally, Cornerstone Planning Group LLC lifted its stake in APi Group by 14,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after buying an additional 736 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on APG shares. Citigroup reissued a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Truist Financial set a $55.00 target price on shares of APi Group and gave the company a “buy” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Barclays reiterated an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Finally, UBS Group raised their price objective on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.14.
APi Group Stock Performance
Shares of APG stock opened at $41.37 on Tuesday. The stock’s 50-day moving average price is $42.32 and its 200 day moving average price is $42.72. 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 stock has a market capitalization of $17.92 billion, a PE ratio of -58.27, a price-to-earnings-growth ratio of 2.42 and a beta of 1.60. APi Group Corporation has a 52-week low of $33.40 and a 52-week high of $49.99.
APi Group (NYSE:APG – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping 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 company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities research analysts forecast that APi Group Corporation will post 1.71 EPS for the current year.
Insider Buying and Selling
In related news, Director Anthony E. Malkin sold 7,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Martin E. Franklin sold 2,000,000 shares of the 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 sale, the director directly owned 19,240,426 shares of the company’s stock, valued at approximately $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,451,000 shares of company stock worth $149,194,935 over the last three months. 18.70% of the stock is owned by company insiders.
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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