Handelsbanken Fonder AB Sells 136,796 Shares of APi Group Corporation $APG

Handelsbanken Fonder AB decreased its stake in shares of APi Group Corporation (NYSE:APG) by 20.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 527,604 shares of the company’s stock after selling 136,796 shares during the period. Handelsbanken Fonder AB’s holdings in APi Group were worth $22,344,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of APG. Silicon Valley Capital Partners boosted its stake in APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 286 shares in the last quarter. Parallel Advisors LLC grew its holdings in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in APi Group by 1,851.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after purchasing an additional 736 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of APi Group by 146.7% during the fourth quarter. IFP Advisors Inc now owns 824 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the period. Institutional investors own 86.62% of the company’s stock.

Insider Buying and Selling at APi Group

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Lillie sold 285,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $39.84, for a total value of $11,354,400.00. Following the sale, the director directly owned 8,952,350 shares of the company’s stock, valued at $356,661,624. This represents a 3.09% 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. Insiders sold a total of 2,667,000 shares of company stock worth $110,810,972 in the last quarter. 18.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings cut shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Wall Street Zen downgraded APi Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Wells Fargo & Company initiated coverage on APi Group in a report on Tuesday, August 4th. They issued an “overweight” rating and a $53.00 price target on the stock. Truist Financial set a $55.00 price target on APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Citigroup reissued a “buy” rating and issued a $54.00 price objective (up from $53.00) on shares of APi Group in a research note on Friday, July 31st. 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.57.

APi Group Stock Performance

APG opened at $43.51 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The company’s fifty day moving average price is $41.36 and its two-hundred day moving average price is $42.67. APi Group Corporation has a 1-year low of $33.40 and a 1-year high of $49.99. The company has a market cap of $18.80 billion, a price-to-earnings ratio of -64.94, a PEG ratio of 2.50 and a beta of 1.60.

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