Anthony Malkin Sells 7,000 Shares of APi Group (NYSE:APG) Stock

APi Group Corporation (NYSE:APG) Director Anthony Malkin sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total value of $297,290.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

APi Group Trading Up 0.9%

Shares of APG stock opened at $41.96 on Thursday. 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 stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of -59.10, a price-to-earnings-growth ratio of 2.44 and a beta of 1.60. APi Group Corporation has a 12-month low of $32.70 and a 12-month high of $49.99. The stock’s 50-day moving average price is $43.83 and its 200-day moving average price is $42.48.

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

Hedge Funds Weigh In On APi Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in APi Group during the 4th quarter valued at $181,066,000. Durable Capital Partners LP boosted its stake in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after buying an additional 4,274,610 shares during the period. State Street Corp increased its position in APi Group by 50.6% during the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after acquiring an additional 3,620,931 shares during the last quarter. Invesco Ltd. increased its position in APi Group by 224.6% during the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after acquiring an additional 3,535,682 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of APi Group in the fourth quarter valued at $132,125,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Citigroup reaffirmed a “buy” rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Barclays reiterated 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. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, UBS Group boosted their target price on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, APi Group has a consensus rating of “Moderate Buy” and an average target price 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.