Spyglass Capital Management LLC Has $49.24 Million Position in APi Group Corporation $APG

Spyglass Capital Management LLC reduced its stake in shares of APi Group Corporation (NYSE:APG) by 8.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,162,808 shares of the company’s stock after selling 108,291 shares during the quarter. APi Group comprises approximately 2.7% of Spyglass Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Spyglass Capital Management LLC’s holdings in APi Group were worth $49,245,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in APG. Janus Henderson Group PLC boosted its stake in shares of APi Group by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company’s stock valued at $946,846,000 after buying an additional 250,873 shares during the period. Durable Capital Partners LP raised its holdings in shares of 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 acquiring an additional 4,274,610 shares in the last quarter. Viking Global Investors LP boosted its position in APi Group by 6.7% during the third quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock valued at $422,967,000 after purchasing an additional 768,759 shares during the last quarter. State Street Corp grew its stake in APi Group by 0.8% in the fourth quarter. State Street Corp now owns 10,863,164 shares of the company’s stock valued at $415,625,000 after purchasing an additional 91,388 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in APi Group by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company’s stock worth $277,465,000 after purchasing an additional 624,529 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Buying and Selling

In other news, Director James E. 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 transaction of $11,354,400.00. Following the transaction, the director owned 8,952,350 shares of the company’s stock, valued at approximately $356,661,624. This represents a 3.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 214,928 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $39.91, for a total value of $8,577,776.48. Following the completion of the transaction, the director directly owned 9,262,356 shares in the company, valued at $369,660,627.96. The trade was a 2.27% decrease in their ownership of the stock. 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 2,667,000 shares of company stock worth $110,810,972. Insiders own 18.70% of the company’s stock.

APi Group Trading Down 1.0%

Shares of NYSE:APG opened at $39.31 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $16.99 billion, a PE ratio of -58.67, a P/E/G ratio of 2.31 and a beta of 1.60. APi Group Corporation has a 1 year low of $33.40 and a 1 year high of $49.99. The firm has a fifty day moving average price of $41.21 and a 200 day moving average price of $42.58.

APi Group (NYSE:APG) last posted its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. Analysts expect that APi Group Corporation will post 1.72 EPS for the current fiscal year.

Analyst Ratings Changes

APG has been the subject of several research reports. Wells Fargo & Company began coverage on APi Group in a report on Tuesday, August 4th. They set an “overweight” rating and a $53.00 price target for the company. Wall Street Zen cut APi Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Barclays reaffirmed 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. Finally, Citigroup reiterated a “buy” rating and issued a $54.00 target price (up from $53.00) on shares of APi Group in a research note on Friday, July 31st. 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. According to data from MarketBeat, APi Group has an average rating of “Moderate Buy” and an average target price of $52.57.

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.