Martin Franklin Sells 3,000,000 Shares of APi Group (NYSE:APG) Stock

APi Group Corporation (NYSE:APG) Director Martin Franklin sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the sale, the director owned 21,240,426 shares in the company, valued at $868,308,614.88. This trade represents a 12.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

APi Group Stock Down 4.1%

APi Group stock opened at $39.50 on Friday. The company has a fifty day simple moving average of $42.86 and a 200 day simple moving average of $38.90. APi Group Corporation has a 1-year low of $20.50 and a 1-year high of $46.89. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.81. The company has a market cap of $17.04 billion, a P/E ratio of -52.21, a price-to-earnings-growth ratio of 2.46 and a beta of 1.69.

APi Group (NYSE:APG) last issued its earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $0.51 EPS. APi Group’s revenue was up 13.8% on a year-over-year basis. Research analysts anticipate that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On APi Group

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in APi Group by 49.6% in the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after acquiring an additional 11,644,990 shares during the period. Norges Bank bought a new position in APi Group during the fourth quarter worth about $181,066,000. Durable Capital Partners LP increased its stake in shares of APi Group by 40.2% in the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after purchasing an additional 4,274,610 shares in the last quarter. State Street Corp increased its stake in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after purchasing an additional 3,620,931 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after purchasing an additional 3,535,682 shares during the period. Institutional investors own 86.62% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on APG. UBS Group raised their price target on shares of APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. CJS Securities raised APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Barclays upped their price target on APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada raised their price objective on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.57.

About APi Group

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.