Squarepoint Ops LLC Grows Position in APi Group Corporation $APG

Squarepoint Ops LLC raised its stake in APi Group Corporation (NYSE:APG) by 125.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 967,869 shares of the company’s stock after acquiring an additional 538,508 shares during the quarter. Squarepoint Ops LLC’s holdings in APi Group were worth $40,989,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in APG. Baird Financial Group Inc. lifted its position 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. Nykredit A S purchased a new stake in APi Group during the 2nd quarter worth about $556,000. Corient Private Wealth LP increased its position in APi Group by 118.7% during the 2nd quarter. Corient Private Wealth LP now owns 134,856 shares of the company’s stock worth $5,711,000 after purchasing an additional 73,198 shares in the last quarter. Wellington Grp LLC raised its stake in APi Group by 10.2% in the 2nd quarter. Wellington Grp LLC now owns 40,612 shares of the company’s stock valued at $1,720,000 after purchasing an additional 3,752 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in APi Group in the 2nd quarter valued at about $1,529,000. 86.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on APG. Robert W. Baird set a $47.00 target price on shares of APi Group in a report on Friday, July 31st. Wells Fargo & Company began coverage on shares of APi Group in a report on Tuesday, August 4th. They set an “overweight” rating and a $53.00 price target for the company. Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Citigroup reissued a “buy” rating and set a $54.00 price objective (up from $53.00) on shares of APi Group in a research note on Friday, July 31st. Finally, Wall Street Zen lowered shares of APi Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $52.57.

APi Group Stock Performance

NYSE APG opened at $40.24 on Wednesday. The business’s 50-day moving average price is $41.00 and its 200 day moving average price is $42.39. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99. The company has a market capitalization of $17.39 billion, a PE ratio of -60.06, a price-to-earnings-growth ratio of 2.33 and a beta of 1.60. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91.

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

Insider Activity at APi Group

In related news, Director Martin Franklin sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 trade represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Lillie sold 285,000 shares of the business’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 transaction of $11,354,400.00. Following the completion of the sale, the director owned 8,952,350 shares of the company’s stock, valued at approximately $356,661,624. The trade was 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 90 days, insiders have sold 2,667,000 shares of company stock valued at $110,810,972. Insiders own 18.70% of the company’s stock.

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.