APi Group Corporation $APG Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its holdings in shares of APi Group Corporation (NYSE:APG) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,119,006 shares of the company’s stock after selling 30,285 shares during the period. Congress Asset Management Co.’s holdings in APi Group were worth $43,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its stake in shares of APi Group by 20.3% in the first quarter. Root Financial Partners LLC now owns 1,256 shares of the company’s stock worth $51,000 after acquiring an additional 212 shares in the last quarter. Arista Wealth Management LLC raised its stake in shares of APi Group by 1.4% in the second quarter. Arista Wealth Management LLC now owns 19,125 shares of the company’s stock valued at $810,000 after acquiring an additional 270 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of APi Group by 0.5% in the second quarter. Baird Financial Group Inc. now owns 61,525 shares of the company’s stock valued at $2,606,000 after acquiring an additional 277 shares in the last quarter. Triad Wealth Partners LLC boosted its holdings in APi Group by 2.8% in the first quarter. Triad Wealth Partners LLC now owns 10,247 shares of the company’s stock valued at $415,000 after purchasing an additional 283 shares during the period. Finally, Ellenbecker Investment Group boosted its holdings in APi Group by 3.8% in the first quarter. Ellenbecker Investment Group now owns 8,441 shares of the company’s stock valued at $342,000 after purchasing an additional 306 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Up 1.9%

Shares of APG stock traded up $0.79 on Tuesday, reaching $41.45. 2,674,414 shares of the stock were exchanged, compared to its average volume of 2,938,518. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average price is $40.03 and its 200 day moving average price is $41.75. The company has a market capitalization of $17.91 billion, a price-to-earnings ratio of -61.87, a PEG ratio of 2.36 and a beta of 1.57. APi Group Corporation has a twelve month low of $33.52 and a twelve month high of $49.99.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%.APi Group’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. As a group, sell-side analysts expect that APi Group Corporation will post 1.72 earnings per share for the current fiscal year.

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 214,928 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $39.91, for a total transaction of $8,577,776.48. Following the completion of the sale, the director owned 9,262,356 shares in the company, valued at $369,660,627.96. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 285,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $39.84, for a total value of $11,354,400.00. Following the completion of the transaction, the director directly owned 8,952,350 shares of the company’s stock, valued at $356,661,624. This trade represents a 3.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 660,000 shares of company stock worth $26,353,682. Company insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

APG has been the topic of several recent research reports. UBS Group set a $52.00 price target on APi Group in a report on Monday, July 20th. Wall Street Zen cut APi Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings raised APi Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, September 22nd. Robert W. Baird set a $47.00 target price on shares of APi Group in a research note on Friday, July 31st. Finally, Citigroup reaffirmed a “buy” rating and issued a $54.00 target price (up from $53.00) on shares of APi Group in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $52.57.

APi Group Company Profile

APi Group Corporation (NYSE: APG) is a global provider of industrial, commercial and infrastructure services. The company delivers specialized services that help customers design, install, maintain and repair essential systems across buildings, facilities and infrastructure assets.

APi Group’s operations include fire protection and life-safety services, heating, ventilation and air conditioning, electrical and communications work, utility and infrastructure services, industrial maintenance, specialty contracting and other facility services.