M.D. Sass LLC Reduces Holdings in APi Group Corporation $APG

M.D. Sass LLC lowered its stake in APi Group Corporation (NYSE:APG) by 31.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,383,635 shares of the company’s stock after selling 621,692 shares during the period. APi Group accounts for about 4.2% of M.D. Sass LLC’s holdings, making the stock its 10th largest holding. M.D. Sass LLC owned 0.32% of APi Group worth $56,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APG. Sound Income Strategies LLC purchased a new position in APi Group during the fourth quarter valued at $27,000. Cornerstone Planning Group LLC grew its stake in shares of APi Group by 14,720.0% in 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 during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 valued at $29,000 after acquiring an additional 722 shares in the last quarter. IFP Advisors Inc raised its position in shares of APi Group by 146.7% in the 4th quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on APG shares. Weiss Ratings downgraded shares of 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 price objective on APi Group in a research report on Friday, May 1st. Wall Street Zen raised 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 APi Group and gave the stock a “buy” rating in a research note on Friday, May 1st. Finally, UBS Group set a $52.00 price target on APi Group in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.17.

Insider Transactions at APi Group

In other news, Director Anthony E. Malkin sold 7,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James E. Lillie sold 225,539 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the completion of the transaction, the director owned 9,296,811 shares in the company, valued at approximately $417,147,909.57. This trade represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,451,000 shares of company stock valued at $149,194,935 over the last 90 days. 18.70% of the stock is owned by corporate insiders.

APi Group Stock Up 1.6%

APG opened at $39.59 on Friday. 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 firm has a 50 day moving average price of $41.63 and a 200-day moving average price of $42.78. APi Group Corporation has a twelve month low of $33.40 and a twelve month high of $49.99. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of -55.75, a PEG ratio of 2.28 and a beta of 1.60.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts forecast that APi Group Corporation will post 1.71 earnings per share for the current year.

APi Group 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.