APi Group Corporation $APG Position Lessened by Spyglass Capital Management LLC

Spyglass Capital Management LLC trimmed its stake in APi Group Corporation (NYSE:APG) by 8.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,162,808 shares of the company’s stock after selling 108,291 shares during the quarter. APi Group makes up about 2.7% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Spyglass Capital Management LLC owned about 0.27% of APi Group worth $49,245,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of APi Group in the 4th quarter worth approximately $181,066,000. Durable Capital Partners LP lifted its stake in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after purchasing an additional 4,274,610 shares during the last quarter. State Street Corp boosted its holdings in 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 in the last quarter. Invesco Ltd. boosted its holdings in 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 in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in APi Group in the fourth quarter worth approximately $132,125,000. Institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

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

APi Group Stock Performance

APi Group stock opened at $39.31 on Tuesday. The firm’s 50 day simple moving average is $41.21 and its 200-day simple moving average is $42.58. The company has a market cap of $16.99 billion, a P/E ratio of -58.67, a price-to-earnings-growth ratio of 2.31 and a beta of 1.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32. APi Group Corporation has a fifty-two week low of $33.40 and a fifty-two week high of $49.99.

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

Insider Activity

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James E. Lillie sold 285,000 shares of the stock in a transaction 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 sale, the director owned 8,952,350 shares of the company’s stock, valued at $356,661,624. The trade was a 3.09% decrease in their position. 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. Insiders sold 2,667,000 shares of company stock valued at $110,810,972 in the last 90 days. Company insiders own 18.70% of the company’s stock.

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.