Bridges Investment Management Inc. Purchases New Shares in APi Group Co. (NYSE:APG)

Bridges Investment Management Inc. purchased a new position in APi Group Co. (NYSE:APG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,964 shares of the company’s stock, valued at approximately $413,000.

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

APi Group Price Performance

APG opened at $35.22 on Friday. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of -16.38, a PEG ratio of 0.99 and a beta of 1.56. The company has a current ratio of 1.48, a quick ratio of 1.38 and a debt-to-equity ratio of 1.00. APi Group Co. has a 12-month low of $24.61 and a 12-month high of $39.98. The business’s fifty day simple moving average is $35.08 and its 200-day simple moving average is $36.83.

APi Group (NYSE:APG) last issued its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the business earned $0.41 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts anticipate that APi Group Co. will post 1.87 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Upgrades and Downgrades

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

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.