Aristotle Atlantic Partners LLC Reduces Position in APi Group Corporation $APG

Aristotle Atlantic Partners LLC decreased its position in shares of APi Group Corporation (NYSE:APG) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 451,965 shares of the company’s stock after selling 22,791 shares during the period. Aristotle Atlantic Partners LLC owned 0.10% of APi Group worth $18,314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its position in APi Group by 34.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 663,215 shares of the company’s stock valued at $26,873,000 after acquiring an additional 168,197 shares during the period. Caxton Associates LLP increased its holdings in shares of APi Group by 51.4% in the first quarter. Caxton Associates LLP now owns 84,141 shares of the company’s stock valued at $3,409,000 after purchasing an additional 28,578 shares during the period. Gibbs Wealth Management purchased a new stake in shares of APi Group during the first quarter worth approximately $554,000. Sei Investments Co. raised its stake in shares of APi Group by 0.4% during the first quarter. Sei Investments Co. now owns 1,046,852 shares of the company’s stock worth $42,419,000 after purchasing an additional 3,999 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of APi Group by 17.4% during the first quarter. Cetera Investment Advisers now owns 185,808 shares of the company’s stock worth $7,529,000 after purchasing an additional 27,559 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

APG has been the topic of a number of analyst reports. UBS Group set a $52.00 price objective on APi Group in a report on Monday, July 20th. Citigroup reissued a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Robert W. Baird set a $52.00 price target on APi Group in a research note on Friday, May 1st. Finally, Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.17.

APi Group Stock Performance

NYSE APG opened at $39.58 on Friday. The business has a 50 day moving average price of $41.55 and a 200 day moving average price of $42.76. The company has a market capitalization of $17.15 billion, a P/E ratio of -55.74, a PEG 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 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) last posted its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.APi Group’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. Sell-side analysts expect that APi Group Corporation will post 1.71 EPS for the current fiscal year.

Insider Buying and Selling at APi Group

In other APi Group news, Director James E. Lillie sold 59,461 shares of APi Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the completion of the transaction, the director owned 9,237,350 shares in the company, valued at approximately $420,299,425. The trade was a 0.64% decrease in their ownership of the stock. 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 Anthony E. Malkin sold 7,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The SEC filing for this sale provides additional information. Insiders sold a total of 3,451,000 shares of company stock valued at $149,194,935 in the last quarter. Insiders own 18.70% of the company’s stock.

APi Group Company 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.