51,090 Shares in APi Group Corporation $APG Bought by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new stake in APi Group Corporation (NYSE:APG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,090 shares of the company’s stock, valued at approximately $2,608,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bridges Investment Management Inc. increased its position in APi Group by 15.4% during the 2nd quarter. Bridges Investment Management Inc. now owns 70,610 shares of the company’s stock worth $3,605,000 after purchasing an additional 9,435 shares during the period. Rathbones Group PLC purchased a new stake in shares of APi Group in the second quarter valued at approximately $2,094,000. Capital Investment Services of America Inc. grew its holdings in APi Group by 5.4% during the second quarter. Capital Investment Services of America Inc. now owns 397,325 shares of the company’s stock worth $20,283,000 after acquiring an additional 20,337 shares during the period. Equitable Trust Co. raised its position in APi Group by 60.5% in the second quarter. Equitable Trust Co. now owns 33,500 shares of the company’s stock worth $1,710,000 after acquiring an additional 12,630 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in APi Group by 11.1% in the second quarter. Allianz Asset Management GmbH now owns 228,656 shares of the company’s stock worth $11,673,000 after acquiring an additional 22,832 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the transaction, the director directly owned 18,968,790 shares of the company’s stock, valued at $684,583,631.10. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 900,000 shares of company stock worth $32,342,000 over the last ninety days. Company insiders own 17.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Citigroup boosted their price objective on shares of APi Group from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of APi Group in a research report on Monday. Finally, Barclays lifted their price target on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, APi Group presently has an average rating of “Moderate Buy” and an average target price of $38.52.

APi Group Stock Performance

NYSE:APG opened at $38.96 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $16.20 billion, a P/E ratio of 106.25 and a beta of 1.72. The firm has a 50-day moving average price of $36.10 and a two-hundred day moving average price of $34.72. APi Group Corporation has a twelve month low of $20.50 and a twelve month high of $39.65.

APi Group (NYSE:APG) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the business earned $0.51 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, research analysts expect that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.