APi Group Corporation $APG Stock: William Blair Investment Management LLC Reduces Position

William Blair Investment Management LLC reduced its holdings in shares of APi Group Corporation (NYSE:APG) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,615,628 shares of the company’s stock after selling 34,352 shares during the period. William Blair Investment Management LLC’s holdings in APi Group were worth $62,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its holdings in APi Group by 55.7% in the third quarter. CoreCap Advisors LLC now owns 716 shares of the company’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Jacobi Capital Management LLC acquired a new position in shares of APi Group during the third quarter valued at about $44,000. Root Financial Partners LLC acquired a new position in shares of APi Group during the third quarter valued at about $49,000. John Boyer Inc. purchased a new position in shares of APi Group in the 3rd quarter valued at approximately $61,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of APi Group by 35.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,297 shares of the company’s stock valued at $93,000 after purchasing an additional 607 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at APi Group

In related news, Director James Lillie sold 287,498 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $42.45, for a total value of $12,204,290.10. Following the completion of the sale, the director owned 8,664,852 shares of the company’s stock, valued at approximately $367,822,967.40. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 18.70% of the company’s stock.

APi Group Price Performance

Shares of APi Group stock traded down $0.04 on Friday, hitting $43.44. 1,546,242 shares of the company were exchanged, compared to its average volume of 3,527,602. The company has a quick ratio of 1.12, a current ratio of 1.18 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $40.24 and a 200 day moving average price of $41.97. The stock has a market capitalization of $18.47 billion, a price-to-earnings ratio of -68.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.57. APi Group Corporation has a 1-year low of $35.57 and a 1-year high of $49.99.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.40 billion. APi Group had a return on equity of 38.31% and a net margin of 4.12%. The firm’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. As a group, sell-side analysts predict that APi Group Corporation will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APG has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on shares of APi Group from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Weiss Ratings raised shares of APi Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. UBS Group set a $52.00 price objective on APi Group in a research note on Monday, July 20th. Truist Financial set a $58.00 price target on shares of APi Group and gave the company a “buy” rating in a report on Friday, October 30th. Finally, Citigroup lifted their target price on shares of APi Group from $55.00 to $57.00 and gave the company a “buy” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $54.67.

APi Group Profile

APi Group Corporation is a provider of safety and specialty services for commercial, industrial and institutional customers. Its work includes the installation, inspection, maintenance and repair of systems and infrastructure used in buildings and industrial facilities. The company’s services include fire protection and life-safety systems, security, heating and cooling, plumbing, electrical work, and other building and infrastructure services. APi Group delivers these offerings through a network of operating businesses and local brands.