Pelham Capital Ltd. Sells 60,778 Shares of APi Group Corporation $APG

Pelham Capital Ltd. decreased its position in APi Group Corporation (NYSE:APG) by 17.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 297,222 shares of the company’s stock after selling 60,778 shares during the period. APi Group comprises 7.2% of Pelham Capital Ltd.’s investment portfolio, making the stock its 7th biggest position. Pelham Capital Ltd.’s holdings in APi Group were worth $12,587,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Silicon Valley Capital Partners boosted its stake in shares of APi Group by 50.0% during the 3rd 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 position in shares of APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of APi Group by 1,851.3% in the 4th 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 APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after purchasing an additional 736 shares during the period. Finally, IFP Advisors Inc raised its holdings in APi Group by 146.7% in the 4th quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Buying and Selling

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the transaction, the director owned 19,240,426 shares in the company, valued at approximately $809,637,126.08. This represents a 9.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,667,000 shares of company stock worth $110,810,972. 18.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APG has been the subject of a number of recent analyst reports. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Robert W. Baird set a $47.00 price target on shares of APi Group in a report on Friday, July 31st. Barclays restated 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. Wells Fargo & Company started coverage on shares of APi Group in a research report on Tuesday, August 4th. They issued an “overweight” rating and a $53.00 target price on the stock. Finally, UBS Group set a $52.00 price target on shares of APi Group in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.57.

APi Group Stock Down 1.0%

Shares of NYSE APG opened at $39.31 on Tuesday. The stock has a market cap of $16.99 billion, a PE ratio of -58.67, a P/E/G ratio of 2.31 and a beta of 1.60. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The company has a 50-day moving average of $41.21 and a 200 day moving average of $42.58.

APi Group (NYSE:APG) last issued its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.20 billion. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. As a group, sell-side analysts predict that APi Group Corporation will post 1.72 EPS for the current fiscal year.

About APi Group

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.