APi Group Co. (NYSE:APG) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its holdings in shares of APi Group Co. (NYSE:APG) by 1.8% in the 2nd quarter, Holdings Channel reports. The fund owned 180,115 shares of the company’s stock after selling 3,281 shares during the quarter. Granite Investment Partners LLC’s holdings in APi Group were worth $6,778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of APi Group by 10.2% during the 4th quarter. Vanguard Group Inc. now owns 20,790,443 shares of the company’s stock worth $719,349,000 after buying an additional 1,930,059 shares during the last quarter. Swedbank AB increased its stake in APi Group by 21.1% during the second quarter. Swedbank AB now owns 1,860,000 shares of the company’s stock worth $69,992,000 after acquiring an additional 324,000 shares during the last quarter. Duality Advisers LP purchased a new stake in APi Group in the first quarter valued at $1,447,000. Capital World Investors lifted its stake in shares of APi Group by 794.6% in the 4th quarter. Capital World Investors now owns 1,185,771 shares of the company’s stock valued at $41,028,000 after purchasing an additional 1,053,222 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of APi Group by 192.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 53,950 shares of the company’s stock worth $2,121,000 after purchasing an additional 35,520 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APG shares. Robert W. Baird lowered their target price on shares of APi Group from $43.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Barclays decreased their price target on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. cut their price objective on APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.86.

APi Group Trading Down 1.6 %

NYSE:APG opened at $35.21 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. The firm has a market cap of $9.66 billion, a PE ratio of -16.38, a price-to-earnings-growth ratio of 0.99 and a beta of 1.56. The stock has a fifty day moving average price of $35.08 and a 200 day moving average price of $36.84. APi Group Co. has a 12-month low of $24.61 and a 12-month high of $39.98.

APi Group (NYSE:APG) last issued its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. APi Group had a net margin of 2.81% and a return on equity of 36.53%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that APi Group Co. will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other APi Group news, SVP Louis Lambert sold 6,333 shares of APi Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.45, for a total transaction of $205,505.85. Following the completion of the sale, the senior vice president now directly owns 8,100 shares of the company’s stock, valued at approximately $262,845. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Louis Lambert sold 6,333 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.45, for a total transaction of $205,505.85. Following the completion of the sale, the senior vice president now owns 8,100 shares in the company, valued at approximately $262,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin E. Franklin sold 178,346 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $35.26, for a total transaction of $6,288,479.96. Following the completion of the transaction, the director now directly owns 14,267,479 shares in the company, valued at $503,071,309.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 340,358 shares of company stock worth $11,653,157. Corporate insiders own 16.40% of the company’s stock.

About APi Group

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.