Graham Capital Management L.P. Lowers Holdings in APi Group Corporation $APG

Graham Capital Management L.P. decreased its stake in shares of APi Group Corporation (NYSE:APG) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,747 shares of the company’s stock after selling 22,948 shares during the quarter. Graham Capital Management L.P.’s holdings in APi Group were worth $4,122,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in APG. AQR Capital Management LLC purchased a new position in APi Group during the first quarter valued at $650,000. Goldman Sachs Group Inc. raised its stake in shares of APi Group by 73.6% in the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock worth $6,369,000 after purchasing an additional 75,490 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of APi Group by 547.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company’s stock worth $65,000 after purchasing an additional 1,078 shares during the last quarter. First Trust Advisors LP raised its stake in shares of APi Group by 166.5% in the second quarter. First Trust Advisors LP now owns 173,569 shares of the company’s stock worth $8,861,000 after purchasing an additional 108,447 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in shares of APi Group by 5.7% in the second quarter. Cresset Asset Management LLC now owns 11,305 shares of the company’s stock worth $577,000 after purchasing an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APG opened at $42.48 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.44 and a quick ratio of 1.36. APi Group Corporation has a one year low of $31.95 and a one year high of $49.99. The firm has a market capitalization of $18.40 billion, a P/E ratio of -59.83, a PEG ratio of 2.44 and a beta of 1.60. The business has a fifty day moving average of $43.99 and a 200 day moving average of $42.35.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. APi Group’s revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that APi Group Corporation will post 1.7 EPS for the current year.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ian G. H. Ashken sold 65,534 shares of APi Group stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total value of $2,981,141.66. Following the completion of the sale, the director directly owned 9,477,284 shares of the company’s stock, valued at $431,121,649.16. The trade was a 0.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,444,000 shares of company stock valued at $271,537,645 over the last 90 days. Company insiders own 18.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on APG shares. Royal Bank Of Canada boosted their price target on APi Group from $45.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Citigroup restated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. Robert W. Baird set a $52.00 price target on APi Group in a research note on Friday, May 1st. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Finally, UBS Group boosted their price target on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One research 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 stock. Based on data from MarketBeat, APi Group has a consensus rating of “Moderate Buy” and an average price target of $52.14.

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.