Granite Investment Partners LLC Sells 3,281 Shares of APi Group Co. (NYSE:APG)

Granite Investment Partners LLC lowered its position in APi Group Co. (NYSE:APG) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,115 shares of the company’s stock after selling 3,281 shares during the quarter. Granite Investment Partners LLC owned approximately 0.07% of APi Group worth $6,778,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of APi Group by 43.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,280 shares of the company’s stock valued at $44,000 after acquiring an additional 390 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of APi Group by 100.9% in the 1st quarter. Whittier Trust Co. now owns 1,497 shares of the company’s stock valued at $59,000 after purchasing an additional 752 shares in the last quarter. J.Safra Asset Management Corp boosted its stake in shares of APi Group by 81.3% during the first quarter. J.Safra Asset Management Corp now owns 1,731 shares of the company’s stock valued at $68,000 after purchasing an additional 776 shares in the last quarter. Motco bought a new position in shares of APi Group during the first quarter valued at approximately $83,000. Finally, Triad Wealth Partners LLC bought a new position in APi Group in the second quarter worth approximately $132,000. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APG has been the topic of a number of analyst reports. Robert W. Baird cut their price target on APi Group from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Barclays cut their target price on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of APi Group from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.86.

APi Group Price Performance

Shares of APG stock opened at $35.21 on Friday. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of -16.38, a PEG ratio of 0.99 and a beta of 1.56. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 1.48. The stock’s 50-day simple moving average is $35.08 and its 200-day simple moving average is $36.84. APi Group Co. has a fifty-two week low of $24.61 and a fifty-two week high of $39.98.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. APi Group had a net margin of 2.81% and a return on equity of 36.53%. APi Group’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, equities analysts forecast that APi Group Co. will post 1.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $33.03, for a total value of $4,954,500.00. Following the sale, the director now owns 5,678,779 shares in the company, valued at $187,570,070.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.03, for a total transaction of $4,954,500.00. Following the completion of the transaction, the director now directly owns 5,678,779 shares in the company, valued at $187,570,070.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Louis Lambert sold 5,679 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $36.04, for a total transaction of $204,671.16. Following the completion of the transaction, the senior vice president now owns 2,421 shares of the company’s stock, valued at $87,252.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,358 shares of company stock valued at $11,653,157. 16.40% of the stock is owned by company insiders.

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.