Aristotle Atlantic Partners LLC Lowers Stock Holdings in APi Group Corporation $APG

Aristotle Atlantic Partners LLC reduced its holdings in APi Group Corporation (NYSE:APG) by 4.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 451,965 shares of the company’s stock after selling 22,791 shares during the quarter. Aristotle Atlantic Partners LLC’s holdings in APi Group were worth $18,314,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new stake in shares of APi Group in the fourth quarter worth approximately $27,000. Cornerstone Planning Group LLC grew its holdings in APi Group by 14,720.0% in 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. Caitong International Asset Management Co. Ltd increased its position in APi Group by 1,851.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after purchasing an additional 722 shares during the last quarter. IFP Advisors Inc increased its position in APi Group by 146.7% during the fourth quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the last quarter. Finally, Parallel Advisors LLC increased its position 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 purchasing an additional 297 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction on 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 document filed with the SEC, which is available at this link. Also, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the sale, the director owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,451,000 shares of company stock worth $149,194,935. Corporate insiders own 18.70% of the company’s stock.

APi Group Trading Up 0.0%

Shares of APG opened at $39.58 on Friday. APi Group Corporation has a 12 month low of $33.40 and a 12 month high of $49.99. The stock’s 50-day moving average is $41.55 and its two-hundred day moving average is $42.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. The stock has a market cap of $17.15 billion, a PE ratio of -55.74, a P/E/G ratio of 2.31 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $0.37 earnings per share. APi Group’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Barclays reissued an “overweight” rating and set a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Citigroup restated 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. Finally, Truist Financial set a $55.00 price objective on APi Group 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, five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, APi Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.17.

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.