Pictet Asset Management Holding SA Sells 35,292 Shares of APi Group Corporation $APG

Pictet Asset Management Holding SA trimmed its stake in APi Group Corporation (NYSE:APG) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,395,365 shares of the company’s stock after selling 35,292 shares during the period. Pictet Asset Management Holding SA’s holdings in APi Group were worth $218,586,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of APG. Norges Bank bought a new stake in APi Group during the fourth quarter valued at about $181,066,000. Durable Capital Partners LP raised 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 buying an additional 4,274,610 shares during the period. State Street Corp raised 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 buying an additional 3,620,931 shares during the period. Invesco Ltd. raised its stake 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 worth $175,627,000 after buying an additional 3,535,682 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in shares of APi Group during the 4th quarter valued at about $132,125,000. 86.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APG has been the subject of a number of recent research reports. Weiss Ratings downgraded APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Robert W. Baird set a $52.00 target price on shares of APi Group in a research note on Friday, May 1st. Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Truist Financial set a $55.00 price target on shares of APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Citigroup reissued a “buy” rating and issued a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.14.

Insiders Place Their Bets

In other news, Director Ian G. H. Ashken sold 1,018,466 shares of APi Group stock in a transaction that occurred on 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 sale, the director owned 9,542,818 shares in the company, valued at $426,850,249.14. This trade represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director directly owned 19,240,426 shares in the company, valued at $809,637,126.08. This trade represents a 9.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,451,000 shares of company stock valued at $149,194,935. 18.70% of the stock is owned by company insiders.

APi Group Price Performance

Shares of APi Group stock opened at $41.10 on Friday. The company has a market capitalization of $17.81 billion, a price-to-earnings ratio of -57.89, a PEG ratio of 2.41 and a beta of 1.60. 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 stock’s 50-day simple moving average is $43.68 and its 200-day simple moving average is $42.49. APi Group Corporation has a 52 week low of $32.70 and a 52 week high of $49.99.

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 firm had revenue of $1.98 billion during 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 revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. As a group, analysts expect that APi Group Corporation will post 1.7 earnings per share for the current fiscal year.

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.