APi Group (NYSE:APG) Director Sells $84,160,000.00 in Stock

APi Group Corporation (NYSE:APG) Director Martin Franklin sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. This trade represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

APi Group Stock Up 0.0%

Shares of APG opened at $42.34 on Monday. 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 firm has a market cap of $18.34 billion, a P/E ratio of -59.64, a price-to-earnings-growth ratio of 2.48 and a beta of 1.60. The company’s 50-day moving average price is $43.99 and its 200 day moving average price is $42.31. APi Group Corporation has a 12-month low of $31.75 and a 12-month high of $49.99.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, sell-side analysts forecast that APi Group Corporation will post 1.7 earnings per share for the current year.

Institutional Trading of APi Group

A number of large investors have recently made changes to their positions in APG. Vanguard Group Inc. increased its stake in shares of APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after buying an additional 11,644,990 shares during the period. Norges Bank purchased a new stake in shares of APi Group during the fourth quarter worth approximately $181,066,000. Durable Capital Partners LP increased its stake in shares of APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after buying an additional 4,274,610 shares during the period. State Street Corp increased its stake in shares of APi Group by 50.6% during the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after buying an additional 3,620,931 shares during the period. Finally, Invesco Ltd. increased its stake in shares of APi Group by 224.6% during the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock worth $175,627,000 after buying an additional 3,535,682 shares during the period. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on APG shares. Royal Bank Of Canada boosted their price target on shares of APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. 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. Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Wall Street Zen upgraded shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, UBS Group boosted their price target on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and an average target price of $52.14.

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.