Clearbridge Investments LLC Sells 127,551 Shares of APi Group Corporation $APG

Clearbridge Investments LLC lowered its position in APi Group Corporation (NYSE:APG) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 3,960,744 shares of the company’s stock after selling 127,551 shares during the quarter. Clearbridge Investments LLC’s holdings in APi Group were worth $151,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Sound Income Strategies LLC purchased a new stake in APi Group during the fourth quarter worth $27,000. Clearstead Advisors LLC lifted its holdings in APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after buying an additional 427 shares during the period. Silicon Valley Capital Partners lifted its holdings 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 buying an additional 286 shares during the period. Parallel Advisors LLC lifted its holdings in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after buying an additional 736 shares during the period. Institutional investors own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APG. UBS Group upped their target price on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a report on Tuesday, May 26th. Citigroup restated a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Barclays restated an “overweight” rating and set a $54.00 target price (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.14.

APi Group Stock Performance

Shares of APG opened at $42.06 on Monday. APi Group Corporation has a 12 month low of $31.40 and a 12 month high of $49.99. The stock has a fifty day moving average price of $43.78 and a 200-day moving average price of $42.12. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. The firm has a market cap of $18.22 billion, a PE ratio of -59.23, a P/E/G ratio of 2.47 and a beta of 1.60.

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

Insider Activity

In other news, Director Martin E. Franklin sold 3,000,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the completion of the sale, the director owned 21,240,426 shares in the company, valued at approximately $868,308,614.88. This represents a 12.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total value of $2,981,141.66. Following the sale, the director owned 9,477,284 shares of the company’s stock, valued at approximately $431,121,649.16. This represents a 0.69% decrease in their position. 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 quarter, insiders sold 4,444,000 shares of company stock worth $187,377,645. Insiders own 18.70% of the company’s stock.

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.