APi Group (NYSE:APG) Director Sells $2,981,141.66 in Stock

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 65,534 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total value of $2,981,141.66. Following the completion of the transaction, the director directly owned 9,477,284 shares of the company’s stock, valued at approximately $431,121,649.16. The trade was a 0.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Trading Down 1.4%

NYSE:APG opened at $43.99 on Friday. APi Group Corporation has a 1 year low of $29.01 and a 1 year high of $49.99. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of -61.96, a PEG ratio of 2.62 and a beta of 1.67. The business has a fifty day moving average of $43.75 and a 200-day moving average of $41.18. 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) last announced its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. Equities analysts predict that APi Group Corporation will post 1.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on APG. Barclays reiterated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday. Royal Bank Of Canada increased their price target on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. UBS Group increased their price objective on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $52.00 price objective on APi Group in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, APi Group has a consensus rating of “Moderate Buy” and an average price target of $52.14.

Institutional Investors Weigh In On APi Group

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in APi Group by 49.6% in the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after acquiring an additional 11,644,990 shares in the last quarter. Janus Henderson Group PLC lifted its stake in APi Group by 4.0% in the 4th quarter. Janus Henderson Group PLC now owns 23,116,168 shares of the company’s stock worth $884,409,000 after acquiring an additional 887,729 shares in the last quarter. Durable Capital Partners LP lifted its stake in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after acquiring an additional 4,274,610 shares in the last quarter. Viking Global Investors LP lifted its stake in APi Group by 6.7% in the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock worth $422,967,000 after acquiring an additional 768,759 shares in the last quarter. Finally, State Street Corp lifted its stake in APi Group by 0.8% in the 4th quarter. State Street Corp now owns 10,863,164 shares of the company’s stock worth $415,625,000 after acquiring an additional 91,388 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

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.