APi Group Corporation $APG Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of APi Group Corporation (NYSE:APG) by 12.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,114,000 shares of the company’s stock after selling 165,400 shares during the period. Handelsbanken Fonder AB’s holdings in APi Group were worth $42,622,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after purchasing an additional 11,644,990 shares in the last quarter. Durable Capital Partners LP grew its holdings in APi Group by 40.2% during the 3rd 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 in the last quarter. Viking Global Investors LP grew its holdings in APi Group by 6.7% during the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock valued at $422,967,000 after purchasing an additional 768,759 shares in the last quarter. State Street Corp grew its holdings in APi Group by 50.6% during the 3rd quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after purchasing an additional 3,620,931 shares in the last quarter. Finally, Findlay Park Partners LLP grew its holdings in APi Group by 13.1% during the 3rd quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company’s stock valued at $259,152,000 after purchasing an additional 873,420 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Martin E. Franklin sold 3,000,000 shares of APi Group stock in a transaction dated Thursday, March 19th. The shares were 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the completion of the transaction, the director directly owned 9,296,811 shares of the company’s stock, valued at $417,147,909.57. This trade represents a 2.37% 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. In the last three months, insiders sold 5,126,000 shares of company stock valued at $217,071,030. Company insiders own 18.70% of the company’s stock.

APi Group Price Performance

Shares of APG stock opened at $41.19 on Wednesday. The firm has a market cap of $17.85 billion, a P/E ratio of -58.02, a P/E/G ratio of 2.48 and a beta of 1.67. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. APi Group Corporation has a 1-year low of $30.00 and a 1-year high of $49.99. The firm has a fifty day moving average of $43.67 and a two-hundred day moving average of $41.66.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the business earned $0.37 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, research analysts anticipate that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APG. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Truist Financial set a $55.00 price objective on shares of APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Barclays reissued an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Robert W. Baird set a $52.00 price objective on shares of APi Group in a report on Friday, May 1st. Finally, Citigroup reissued a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, APi Group presently has an average rating of “Moderate Buy” and a consensus price target of $52.14.

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.