Granite Investment Partners LLC Sells 71,799 Shares of APi Group Corporation $APG

Granite Investment Partners LLC reduced its stake in shares of APi Group Corporation (NYSE:APG) by 50.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,284 shares of the company’s stock after selling 71,799 shares during the quarter. Granite Investment Partners LLC’s holdings in APi Group were worth $2,416,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of APG. Koshinski Asset Management Inc. increased its holdings in shares of APi Group by 39.2% during the 3rd quarter. Koshinski Asset Management Inc. now owns 7,417 shares of the company’s stock worth $255,000 after purchasing an additional 2,088 shares during the period. OneDigital Investment Advisors LLC grew its position in APi Group by 44.7% during the third quarter. OneDigital Investment Advisors LLC now owns 14,115 shares of the company’s stock worth $485,000 after buying an additional 4,362 shares in the last quarter. Citigroup Inc. increased its stake in APi Group by 157.4% during the third quarter. Citigroup Inc. now owns 181,397 shares of the company’s stock valued at $6,235,000 after acquiring an additional 110,911 shares during the period. Personal CFO Solutions LLC raised its holdings in APi Group by 49.3% in the 3rd quarter. Personal CFO Solutions LLC now owns 6,746 shares of the company’s stock valued at $232,000 after acquiring an additional 2,229 shares in the last quarter. Finally, Tredje AP fonden lifted its position in shares of APi Group by 10.1% in the 3rd quarter. Tredje AP fonden now owns 52,975 shares of the company’s stock worth $1,821,000 after acquiring an additional 4,869 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Anthony E. Malkin purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average cost of $39.58 per share, with a total value of $118,740.00. Following the acquisition, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. This trade represents a 75.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have bought 7,000 shares of company stock worth $275,720. Company insiders own 17.00% of the company’s stock.

APi Group Stock Down 1.2%

Shares of NYSE APG opened at $44.10 on Tuesday. APi Group Corporation has a 52-week low of $20.50 and a 52-week high of $46.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The business has a fifty day moving average of $41.76 and a two-hundred day moving average of $38.03. The stock has a market cap of $18.34 billion, a PE ratio of 120.29 and a beta of 1.70.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on APG shares. CJS Securities upgraded APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Royal Bank Of Canada reiterated an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. Citigroup restated a “buy” rating and issued a $49.00 price objective (up previously from $45.00) on shares of APi Group in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Finally, UBS Group set a $49.00 target price on shares of APi Group and gave the company a “buy” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.24.

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.