2Xideas AG Sells 22,443 Shares of APi Group Corporation $APG

2Xideas AG lowered its position in shares of APi Group Corporation (NYSE:APG) by 24.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,687 shares of the company’s stock after selling 22,443 shares during the quarter. 2Xideas AG’s holdings in APi Group were worth $2,361,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of APG. Bares Capital Management Inc. bought a new position in shares of APi Group in the second quarter worth about $30,000. Clearstead Advisors LLC lifted its holdings in APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after purchasing an additional 427 shares in the last quarter. Parallel Advisors LLC lifted its holdings in APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in APi Group in the 3rd quarter worth approximately $31,000. Finally, Root Financial Partners LLC bought a new position in APi Group in the 3rd quarter worth approximately $32,000. 86.62% of the stock is currently owned by institutional investors.

APi Group Stock Down 2.2%

APi Group stock opened at $39.89 on Friday. The business’s 50-day simple moving average is $42.86 and its two-hundred day simple moving average is $38.72. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50. The company has a market cap of $17.21 billion, a PE ratio of -52.72, a PEG ratio of 2.43 and a beta of 1.69. APi Group Corporation has a fifty-two week low of $20.50 and a fifty-two week high of $46.89.

APi Group (NYSE:APG) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company earned $0.51 EPS. APi Group’s quarterly revenue was up 13.8% on a year-over-year basis. Equities analysts anticipate that APi Group Corporation will post 1.83 EPS for the current year.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 114,409 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $43.12, for a total value of $4,933,316.08. Following the sale, the director owned 10,633,830 shares in the company, valued at approximately $458,530,749.60. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Louis Lambert sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $44.71, for a total transaction of $983,620.00. Following the sale, the senior vice president directly owned 16,148 shares in the company, valued at $721,977.08. The trade was a 57.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 682,000 shares of company stock valued at $29,693,385. 17.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

APG has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Barclays upped their price objective on APi Group from $44.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Truist Financial boosted their price target on shares of APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Finally, Citigroup increased their price target on shares of APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, APi Group currently has an average rating of “Moderate Buy” and an average price target of $48.57.

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.