APi Group (NYSE:APG) Trading Down 8.2% – Here’s What Happened

APi Group Corporation (NYSE:APG)’s stock price traded down 8.2% during trading on Wednesday . The company traded as low as $37.26 and last traded at $36.8940. Approximately 2,125,765 shares were traded during trading, a decline of 25% from the average session volume of 2,842,151 shares. The stock had previously closed at $40.20.

Analyst Ratings Changes

Several research firms have issued reports on APG. Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Citigroup reissued a “buy” rating and issued a $54.00 price objective (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Robert W. Baird set a $47.00 target price on APi Group in a research note on Friday, July 31st. Wall Street Zen lowered APi Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Wells Fargo & Company initiated coverage on APi Group in a research note on Tuesday, August 4th. They issued an “overweight” rating and a $53.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, APi Group has an average rating of “Moderate Buy” and a consensus target price of $52.57.

APi Group Price Performance

The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.39. The firm has a market cap of $15.91 billion, a price-to-earnings ratio of -53.63, a price-to-earnings-growth ratio of 2.33 and a beta of 1.60. The stock’s 50 day simple moving average is $41.00 and its 200-day simple moving average is $42.39.

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

Insider Transactions at APi Group

In other news, Director James Lillie sold 285,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 8,952,350 shares of the company’s stock, valued at approximately $356,661,624. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Anthony Malkin sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,667,000 shares of company stock worth $110,810,972 in the last 90 days. 18.70% of the stock is owned by company insiders.

Institutional Trading of APi Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in APi Group by 4,029.8% during the second quarter. California State Teachers Retirement System now owns 16,992,048 shares of the company’s stock valued at $719,613,000 after purchasing an additional 16,580,597 shares during the period. Norges Bank purchased a new position in APi Group during the fourth quarter valued at approximately $181,066,000. Durable Capital Partners LP lifted its holdings in APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after acquiring an additional 4,274,610 shares during the period. State Street Corp increased its holdings in shares of 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, Invesco Ltd. increased its holdings in shares of APi Group by 224.6% during the 3rd quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after purchasing an additional 3,535,682 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

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.