Edgestream Partners L.P. Buys 204,713 Shares of APi Group Co. (NYSE:APG)

Edgestream Partners L.P. raised its stake in APi Group Co. (NYSE:APG) by 1,315.8% in the third quarter, Holdings Channel.com reports. The firm owned 220,271 shares of the company’s stock after acquiring an additional 204,713 shares during the period. Edgestream Partners L.P.’s holdings in APi Group were worth $7,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of APi Group by 4.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock valued at $227,881,000 after buying an additional 324,544 shares during the last quarter. Cooke & Bieler LP increased its stake in APi Group by 218.9% during the second quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company’s stock valued at $108,545,000 after acquiring an additional 1,979,931 shares during the period. Artemis Investment Management LLP raised its holdings in APi Group by 65.8% in the 2nd quarter. Artemis Investment Management LLP now owns 2,543,375 shares of the company’s stock valued at $95,707,000 after acquiring an additional 1,009,328 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of APi Group by 7.6% in the 2nd quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company’s stock worth $92,743,000 after acquiring an additional 173,544 shares during the period. Finally, M.D. Sass LLC grew its holdings in shares of APi Group by 7.5% during the 3rd quarter. M.D. Sass LLC now owns 2,313,473 shares of the company’s stock worth $76,391,000 after purchasing an additional 160,595 shares in the last quarter. 86.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director James E. Lillie sold 11,568 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.98, for a total transaction of $427,784.64. Following the sale, the director now owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ian G. H. Ashken sold 53,868 shares of APi Group stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value of $1,986,113.16. Following the completion of the transaction, the director now directly owns 5,478,779 shares of the company’s stock, valued at $202,002,581.73. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is owned by corporate insiders.

APi Group Stock Up 0.6 %

APG opened at $37.78 on Friday. APi Group Co. has a twelve month low of $29.95 and a twelve month high of $39.98. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of -19.18 and a beta of 1.54. The firm’s 50-day simple moving average is $34.66 and its 200-day simple moving average is $35.56. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that APi Group Co. will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on APG shares. Barclays upped their target price on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Robert W. Baird raised their price objective on shares of APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price target on shares of APi Group in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, APi Group presently has an average rating of “Moderate Buy” and an average target price of $43.71.

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.