Gluskin Sheff & Assoc Inc. reduced its position in shares of APi Group Co. (NYSE:APG – Get Rating) by 22.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 593,098 shares of the company's stock after selling 170,883 shares during the period. Gluskin Sheff & Assoc Inc. owned 0.25% of APi Group worth $12,473,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Advisor Group Holdings Inc. lifted its holdings in shares of APi Group by 229.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 50,598 shares of the company's stock worth $1,064,000 after acquiring an additional 35,260 shares during the period. Pictet Asset Management SA purchased a new position in shares of APi Group during the 4th quarter worth about $220,000. Teacher Retirement System of Texas lifted its holdings in shares of APi Group by 22.3% during the 4th quarter. Teacher Retirement System of Texas now owns 27,591 shares of the company's stock worth $711,000 after acquiring an additional 5,033 shares during the period. Atria Wealth Solutions Inc. purchased a new position in shares of APi Group during the 1st quarter worth about $7,232,000. Finally, Forager Funds Management Pty Ltd purchased a new position in shares of APi Group during the 4th quarter worth about $4,940,000. 73.28% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Activity
In other news, Director Anthony E. Malkin purchased 12,600 shares of APi Group stock in a transaction dated Friday, June 17th. The stock was bought at an average price of $14.47 per share, with a total value of $182,322.00. Following the completion of the acquisition, the director now owns 34,396 shares in the company, valued at approximately $497,710.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 13.70% of the company's stock.
APi Group Trading Down 0.6 %
Shares of APG traded down $0.10 during midday trading on Monday, hitting $15.99. 38,818 shares of the stock traded hands, compared to its average volume of 935,109. APi Group Co. has a 1-year low of $14.13 and a 1-year high of $26.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.52 and a current ratio of 1.62. The business's 50 day moving average price is $16.39 and its two-hundred day moving average price is $17.80.
APi Group (NYSE:APG – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. APi Group had a net margin of 1.08% and a return on equity of 13.70%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company's revenue for the quarter was up 68.6% compared to the same quarter last year. Analysts forecast that APi Group Co. will post 1.33 earnings per share for the current year.
Analyst Ratings Changes
APG has been the topic of several recent analyst reports. Bank of America upgraded shares of APi Group from a "neutral" rating to a "buy" rating and set a $23.00 price objective on the stock in a report on Monday, July 11th. Royal Bank of Canada cut their price target on shares of APi Group from $24.00 to $18.00 in a report on Monday, July 11th. Barclays cut their price target on shares of APi Group from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Friday, July 8th. Finally, JPMorgan Chase & Co. began coverage on shares of APi Group in a report on Friday, June 17th. They issued a "neutral" rating and a $17.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.17.
APi Group Profile
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APi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems.
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