Edgestream Partners L.P. Has $585,000 Position in APi Group Co. (NYSE:APG)

Edgestream Partners L.P. cut its stake in APi Group Co. (NYSE:APG) by 79.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,558 shares of the company’s stock after selling 59,413 shares during the period. Edgestream Partners L.P.’s holdings in APi Group were worth $585,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of APi Group during the 4th quarter worth approximately $204,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of APi Group in the 4th quarter valued at $245,000. Norges Bank acquired a new position in shares of APi Group during the 4th quarter worth $77,071,000. PNC Financial Services Group Inc. lifted its position in shares of APi Group by 51.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 34,953 shares of the company’s stock worth $1,209,000 after buying an additional 11,878 shares during the last quarter. Finally, UBS Group AG boosted its stake in APi Group by 34.0% in the fourth quarter. UBS Group AG now owns 307,115 shares of the company’s stock valued at $10,626,000 after buying an additional 77,884 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

Insider Transactions at APi Group

In other news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the completion of the sale, the director now directly owns 5,678,779 shares in the company, valued at $187,570,070.37. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the sale, the director now owns 5,678,779 shares in the company, valued at approximately $187,570,070.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Martin E. Franklin sold 178,346 shares of APi Group stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $35.26, for a total value of $6,288,479.96. Following the completion of the sale, the director now owns 14,267,479 shares of the company’s stock, valued at $503,071,309.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 340,358 shares of company stock worth $11,653,157. Company insiders own 16.40% of the company’s stock.

APi Group Stock Performance

NYSE APG opened at $35.22 on Monday. 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. APi Group Co. has a twelve month low of $24.61 and a twelve month high of $39.98. The stock has a fifty day simple moving average of $35.08 and a 200 day simple moving average of $36.81. The company has a quick ratio of 1.38, a current ratio of 1.48 and a debt-to-equity ratio of 1.00.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. APi Group had a return on equity of 36.53% and a net margin of 2.81%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period 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 expect that APi Group Co. will post 1.87 EPS for the current year.

Wall Street Analysts Forecast Growth

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

APi Group Company Profile

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.