Janus Henderson Group PLC Increases Stock Position in APi Group Corporation $APG

Janus Henderson Group PLC grew its holdings in shares of APi Group Corporation (NYSE:APG) by 1.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,367,041 shares of the company’s stock after buying an additional 250,873 shares during the period. Janus Henderson Group PLC owned approximately 0.05% of APi Group worth $946,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sound Income Strategies LLC bought a new position in shares of APi Group in the 4th quarter worth about $27,000. Cornerstone Planning Group LLC boosted its stake in APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after acquiring an additional 736 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in APi Group by 1,851.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after acquiring an additional 722 shares in the last quarter. IFP Advisors Inc boosted its stake in APi Group by 146.7% during the fourth quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the period. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Stock Performance

APG stock opened at $38.48 on Thursday. The stock’s 50 day simple moving average is $41.40 and its 200 day simple moving average is $42.74. The company has a current ratio of 1.44, a quick ratio of 1.36 and a debt-to-equity ratio of 0.79. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The stock has a market capitalization of $16.67 billion, a PE ratio of -54.20, a price-to-earnings-growth ratio of 2.30 and a beta of 1.60.

APi Group (NYSE:APG) last posted its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the company earned $0.37 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, research analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ian G. H. Ashken sold 1,018,466 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the sale, the director directly owned 9,542,818 shares of the company’s stock, 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 APi Group stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares of the company’s stock, valued at $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,451,000 shares of company stock valued at $149,194,935. Company insiders own 18.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial set a $55.00 target price on shares of APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays restated an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. UBS Group set a $52.00 price objective on APi Group in a research report on Monday, July 20th. Robert W. Baird set a $52.00 price objective on APi Group in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $53.17.

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.