Edgestream Partners L.P. Takes Position in APi Group Co. (NYSE:APG)

Edgestream Partners L.P. purchased a new position in shares of APi Group Co. (NYSE:APG) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 74,971 shares of the company’s stock, valued at approximately $2,944,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of APi Group by 0.9% during the third quarter. Vanguard Group Inc. now owns 18,860,384 shares of the company’s stock worth $489,050,000 after acquiring an additional 167,293 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in shares of APi Group by 701.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 121,332 shares of the company’s stock valued at $4,198,000 after purchasing an additional 106,200 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of APi Group during the fourth quarter worth $670,000. Charles Schwab Investment Management Inc. increased its position in shares of APi Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,678,342 shares of the company’s stock worth $92,671,000 after buying an additional 24,212 shares during the period. Finally, Duality Advisers LP acquired a new position in APi Group in the first quarter valued at $1,447,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Stock Performance

Shares of APG traded up $0.49 on Tuesday, reaching $38.28. 194,379 shares of the company’s stock traded hands, compared to its average volume of 1,795,516. The stock’s 50 day simple moving average is $37.16 and its two-hundred day simple moving average is $36.49. The stock has a market cap of $10.50 billion, a PE ratio of -17.58, a PEG ratio of 1.07 and a beta of 1.57. APi Group Co. has a 52-week low of $24.61 and a 52-week high of $39.98. The company has a current ratio of 1.35, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14.

APi Group (NYSE:APG) last announced its earnings results on Thursday, May 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. APi Group had a return on equity of 37.83% and a net margin of 2.49%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the firm posted $0.25 EPS. The business’s revenue was down .8% compared to the same quarter last year. On average, analysts forecast that APi Group Co. will post 1.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the completion of the transaction, the director now directly owns 5,828,779 shares in the company, valued at approximately $216,888,866.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other APi Group news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of APi Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $38.15, for a total transaction of $74,460,483.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction on Monday, May 6th. The stock was sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the completion of the transaction, the director now owns 5,828,779 shares in the company, valued at approximately $216,888,866.59. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APG. Robert W. Baird increased their price target on APi Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Royal Bank of Canada boosted their price objective on APi Group from $36.00 to $45.00 and gave the stock a “sector perform” rating in a report on Monday, April 8th. Finally, Citigroup lifted their target price on APi Group from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.29.

APi Group Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.