APi Group Corporation $APG Position Lessened by River Road Asset Management LLC

River Road Asset Management LLC lowered its stake in shares of APi Group Corporation (NYSE:APG) by 38.6% in the fourth quarter, HoldingsChannel reports. The firm owned 240,642 shares of the company’s stock after selling 151,157 shares during the quarter. River Road Asset Management LLC’s holdings in APi Group were worth $9,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new stake in APi Group in the fourth quarter worth $27,000. Clearstead Advisors LLC lifted its stake in APi Group by 105.7% in the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after buying an additional 427 shares during the last quarter. Silicon Valley Capital Partners boosted its holdings in shares of APi Group by 50.0% during the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 286 shares during the period. Parallel Advisors LLC grew its position in shares of 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 acquiring an additional 297 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of 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 acquiring an additional 722 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Activity

In related news, Director James E. Lillie sold 225,539 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director owned 9,296,811 shares in the company, valued at $417,147,909.57. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the transaction, the director owned 9,542,818 shares in the company, valued at $426,850,249.14. This represents a 9.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,444,000 shares of company stock worth $148,897,645 over the last three months. Corporate insiders own 18.70% of the company’s stock.

APi Group Stock Performance

APG stock opened at $42.55 on Friday. The company has a 50-day simple moving average of $43.97 and a 200 day simple moving average of $42.39. The company has a market capitalization of $18.43 billion, a P/E ratio of -59.93, a PEG ratio of 2.50 and a beta of 1.60. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. APi Group Corporation has a fifty-two week low of $32.70 and a fifty-two week high of $49.99.

APi Group (NYSE:APG) last released its earnings results 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 net margin of 3.85% and a return on equity of 37.63%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the company earned $0.37 EPS. APi Group’s quarterly revenue was up 15.3% on a year-over-year basis. Sell-side analysts predict that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on APG. UBS Group lifted their price objective on shares of APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Citigroup restated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Robert W. Baird set a $52.00 price target on APi Group in a report on Friday, May 1st. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Finally, Truist Financial set a $55.00 target price on APi Group and gave the company a “buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.14.

APi Group 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.