Handelsbanken Fonder AB Sells 136,796 Shares of APi Group Corporation $APG

Handelsbanken Fonder AB cut its holdings in APi Group Corporation (NYSE:APG) by 20.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 527,604 shares of the company’s stock after selling 136,796 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.12% of APi Group worth $22,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of APi Group in the fourth quarter worth about $181,066,000. Durable Capital Partners LP lifted its stake in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after purchasing an additional 4,274,610 shares during the last quarter. State Street Corp lifted its stake in APi Group by 50.6% in 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 during the last quarter. Invesco Ltd. boosted its position in APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after buying an additional 3,535,682 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in APi Group in the fourth quarter valued at approximately $132,125,000. Institutional investors own 86.62% of the company’s stock.

Insider Activity

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was 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 approximately $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,667,000 shares of company stock worth $110,810,972 over the last ninety days. Corporate insiders own 18.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on APG. UBS Group set a $52.00 price target on APi Group in a research note on Monday, July 20th. Robert W. Baird set a $47.00 price objective on APi Group in a research report on Friday, July 31st. Wall Street Zen cut APi Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Citigroup reiterated a “buy” rating and issued a $54.00 target price (up from $53.00) on shares of APi Group in a research report on Friday, July 31st. Finally, Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. 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.com, APi Group currently has an average rating of “Moderate Buy” and an average target price of $52.57.

APi Group Price Performance

APG stock opened at $43.51 on Thursday. The company has a market capitalization of $18.80 billion, a P/E ratio of -64.94, a PEG ratio of 2.50 and a beta of 1.60. The company has a fifty day moving average price of $41.36 and a 200-day moving average price of $42.67. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.39. APi Group Corporation has a 52-week low of $33.40 and a 52-week high of $49.99.

APi Group (NYSE:APG) last announced its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $0.39 EPS. APi Group’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts expect that APi Group Corporation will post 1.72 EPS for the current year.

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.