APi Group (NYSE:APG) Director Ian Ashken Sells 1,018,466 Shares

APi Group Corporation (NYSE:APG) Director Ian Ashken sold 1,018,466 shares of APi Group stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the completion of the sale, the director directly owned 9,542,818 shares in the company, valued at approximately $426,850,249.14. The trade was a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

APi Group Stock Performance

NYSE APG traded up $0.83 during trading hours on Wednesday, hitting $46.42. 3,071,772 shares of the stock were exchanged, compared to its average volume of 2,898,728. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. The company has a market cap of $20.11 billion, a price-to-earnings ratio of -65.38, a price-to-earnings-growth ratio of 2.64 and a beta of 1.67. APi Group Corporation has a 12-month low of $28.36 and a 12-month high of $49.99. The stock has a 50-day moving average of $43.71 and a 200 day moving average of $41.02.

APi Group (NYSE:APG) last released its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, equities research analysts forecast that APi Group Corporation will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On APi Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after acquiring an additional 11,644,990 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of APi Group by 4.0% in the fourth quarter. Janus Henderson Group PLC now owns 23,116,168 shares of the company’s stock valued at $884,409,000 after purchasing an additional 887,729 shares during the last quarter. Durable Capital Partners LP increased its stake in shares of APi Group by 40.2% during the 3rd 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. Viking Global Investors LP raised its position in shares of APi Group by 6.7% during the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock worth $422,967,000 after purchasing an additional 768,759 shares during the last quarter. Finally, State Street Corp lifted its stake in APi Group by 0.8% in the 4th quarter. State Street Corp now owns 10,863,164 shares of the company’s stock valued at $415,625,000 after buying an additional 91,388 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on APG shares. Royal Bank Of Canada raised their target price on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a report on Thursday, February 26th. Citigroup reiterated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a report on Friday, May 1st. UBS Group boosted their price objective on shares of APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Barclays increased their target price on shares of APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research 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 company. According to data from MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and a consensus price target of $51.86.

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.