Capital Research Global Investors Has $173.36 Million Stock Position in APi Group Corporation $APG

Capital Research Global Investors reduced its position in APi Group Corporation (NYSE:APG) by 30.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,530,975 shares of the company’s stock after selling 1,969,663 shares during the period. Capital Research Global Investors’ holdings in APi Group were worth $173,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new stake in shares of APi Group in the 4th quarter valued at $27,000. Clearstead Advisors LLC increased its stake in shares of APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after buying an additional 427 shares during the period. Silicon Valley Capital Partners increased its stake in shares of APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares during the period. Parallel Advisors LLC boosted its position in shares of APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in shares of APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after purchasing an additional 736 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

APG has been the topic of several recent research reports. Barclays restated 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, May 7th. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Truist Financial set a $55.00 price target on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a research report on Tuesday, May 26th. Finally, Citigroup restated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.14.

Insider Buying and Selling at APi Group

In other APi Group news, Director Martin E. Franklin sold 3,000,000 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $40.88, for a total value of $122,640,000.00. Following the completion of the transaction, the director directly owned 21,240,426 shares of the company’s stock, valued at approximately $868,308,614.88. The trade was a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the transaction, the director directly owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. The trade was a 9.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 4,444,000 shares of company stock valued at $187,377,645. Company insiders own 18.70% of the company’s stock.

APi Group Stock Up 0.5%

NYSE:APG opened at $42.21 on Tuesday. APi Group Corporation has a 1 year low of $31.40 and a 1 year high of $49.99. 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 stock has a market cap of $18.28 billion, a price-to-earnings ratio of -59.44, a PEG ratio of 2.47 and a beta of 1.60. The stock has a 50-day moving average price of $43.81 and a two-hundred day moving average price of $42.16.

APi Group (NYSE:APG) last posted 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 firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis. As a group, equities analysts expect that APi Group Corporation will post 1.7 earnings per share for the current year.

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.