PDT Partners LLC Reduces Stock Position in APi Group Co. (NYSE:APG)

PDT Partners LLC trimmed its holdings in shares of APi Group Co. (NYSE:APG) by 1.4% in the third quarter, Holdings Channel reports. The institutional investor owned 41,125 shares of the company’s stock after selling 568 shares during the period. PDT Partners LLC’s holdings in APi Group were worth $1,358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in APG. California State Teachers Retirement System boosted its holdings in shares of APi Group by 2.3% in the 1st quarter. California State Teachers Retirement System now owns 186,362 shares of the company’s stock valued at $7,318,000 after buying an additional 4,102 shares in the last quarter. Comerica Bank grew its holdings in shares of APi Group by 109.8% during the first quarter. Comerica Bank now owns 5,641 shares of the company’s stock worth $222,000 after purchasing an additional 2,952 shares during the last quarter. Cetera Advisors LLC increased its position in shares of APi Group by 1.1% during the first quarter. Cetera Advisors LLC now owns 27,242 shares of the company’s stock worth $1,070,000 after purchasing an additional 287 shares in the last quarter. Ellenbecker Investment Group lifted its holdings in shares of APi Group by 8.3% in the 2nd quarter. Ellenbecker Investment Group now owns 5,625 shares of the company’s stock valued at $212,000 after purchasing an additional 433 shares during the last quarter. Finally, MJP Associates Inc. ADV grew its stake in APi Group by 13.4% during the 2nd quarter. MJP Associates Inc. ADV now owns 29,526 shares of the company’s stock worth $1,111,000 after buying an additional 3,492 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

APi Group Price Performance

Shares of NYSE:APG opened at $37.78 on Monday. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $34.66 and a 200 day moving average price of $35.54. APi Group Co. has a 52 week low of $29.95 and a 52 week high of $39.98. The company has a market cap of $10.38 billion, a P/E ratio of -19.18 and a beta of 1.54.

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

Insider Buying and Selling

In related news, Director Ian G. H. Ashken sold 53,868 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total value of $1,986,113.16. Following the sale, the director now owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. This represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.98, for a total value 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 trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on APG shares. Robert W. Baird raised their target price on shares of APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Barclays lifted their price objective on shares of APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 target price on shares of APi Group in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.