APi Group Corporation $APG Holdings Lessened by M.D. Sass LLC

M.D. Sass LLC trimmed its holdings in shares of APi Group Corporation (NYSE:APG) by 31.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,383,635 shares of the company’s stock after selling 621,692 shares during the quarter. APi Group accounts for approximately 4.2% of M.D. Sass LLC’s portfolio, making the stock its 10th biggest holding. M.D. Sass LLC’s holdings in APi Group were worth $56,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rathbones Group PLC lifted its stake in APi Group by 215.7% in the fourth quarter. Rathbones Group PLC now owns 211,909 shares of the company’s stock valued at $8,108,000 after acquiring an additional 144,789 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of APi Group by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,831,219 shares of the company’s stock worth $188,273,000 after purchasing an additional 92,816 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of APi Group by 75.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 68,108 shares of the company’s stock valued at $2,606,000 after purchasing an additional 29,270 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of APi Group in the 4th quarter valued at about $5,593,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in APi Group by 5,212.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 411,590 shares of the company’s stock valued at $15,747,000 after purchasing an additional 403,842 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APG. Citigroup reissued a “buy” rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. UBS Group set a $52.00 price target on APi Group in a research note on Monday. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Barclays reaffirmed an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.17.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the transaction, the director owned 9,477,284 shares in the company, valued at $431,121,649.16. This represents a 0.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony E. Malkin sold 7,000 shares of APi Group stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The SEC filing for this sale provides additional information. Insiders have sold 3,451,000 shares of company stock worth $149,194,935 over the last quarter. Company insiders own 18.70% of the company’s stock.

APi Group Stock Performance

NYSE:APG opened at $39.59 on Friday. The stock has a 50 day simple moving average of $41.63 and a 200 day simple moving average of $42.78. The stock has a market cap of $17.15 billion, a P/E ratio of -55.75, a PEG ratio of 2.28 and a beta of 1.60. APi Group Corporation has a 1-year low of $33.40 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.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.32 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 for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the prior year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Research analysts anticipate that APi Group Corporation will post 1.71 earnings per share for the current year.

APi Group 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.