Key Points
- Director Martin Franklin sold 2 million APi Group shares on June 11 at an average price of $42.08, totaling about $84.16 million. After the sale, he still held more than 19.2 million shares, though his stake fell by 9.42%.
- APi Group’s latest earnings beat expectations, with quarterly EPS of $0.32 versus the $0.30 consensus and revenue of $1.98 billion versus $1.92 billion expected. Revenue rose 15.3% year over year, and analysts now expect full-year EPS of 1.7.
- Wall Street remains generally upbeat on APG, with several firms maintaining or raising buy ratings and an average price target of $52.14. The stock traded around $42.34, below analyst targets, while institutional ownership remained high at 86.62%.
APi Group Corporation (NYSE:APG - Get Free Report) Director Martin Franklin sold 2,000,000 shares of APi Group stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the transaction, the director directly owned 19,240,426 shares of the company's stock, valued at approximately $809,637,126.08. This trade represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
APi Group Trading Down 0.7%
Shares of NYSE APG opened at $42.34 on Friday. APi Group Corporation has a 1 year low of $31.75 and a 1 year high of $49.99. The stock has a market cap of $18.34 billion, a P/E ratio of -59.64, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. The firm has a 50-day moving average of $43.99 and a 200 day moving average of $42.28. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36.
APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. APi Group's revenue was up 15.3% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. As a group, sell-side analysts expect that APi Group Corporation will post 1.7 EPS for the current fiscal year.
Wall Street Analyst Weigh In
APG has been the subject of several research reports. Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Citigroup reissued a "buy" rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Robert W. Baird set a $52.00 price objective on shares of APi Group in a report on Friday, May 1st. UBS Group boosted their price objective on shares of APi Group from $54.00 to $56.00 and gave the company a "buy" rating in a report on Friday, May 1st. Finally, Truist Financial set a $55.00 price objective on shares of APi Group and gave the company a "buy" rating in a 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.14.
Read Our Latest Analysis on APi Group
Institutional Trading of APi Group
Several large investors have recently added to or reduced their stakes in APG. Vanguard Group Inc. grew its position in APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company's stock valued at $1,207,719,000 after buying an additional 11,644,990 shares during the period. Norges Bank bought a new stake in APi Group during the fourth quarter valued at approximately $181,066,000. Durable Capital Partners LP grew its position in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock valued at $512,050,000 after buying an additional 4,274,610 shares during the period. State Street Corp grew its position in APi Group by 50.6% during the third quarter. State Street Corp now owns 10,771,776 shares of the company's stock valued at $370,226,000 after buying an additional 3,620,931 shares during the period. Finally, Invesco Ltd. grew its position in APi Group by 224.6% during 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 during the period. 86.62% of the stock is currently owned by institutional investors.
About APi Group
(
Get Free Report)
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.
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