Norwood Investment Partners LP cut its position in shares of APi Group Corporation (NYSE:APG – Free Report) by 19.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 446,000 shares of the company’s stock after selling 110,440 shares during the quarter. APi Group accounts for 19.2% of Norwood Investment Partners LP’s investment portfolio, making the stock its biggest holding. Norwood Investment Partners LP owned approximately 0.11% of APi Group worth $17,064,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of APG. AQR Capital Management LLC acquired a new position in APi Group during the first quarter worth $650,000. Goldman Sachs Group Inc. raised its holdings in APi Group by 73.6% during 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 holdings in APi Group by 547.2% during 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 holdings in APi Group by 166.5% during 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 holdings in APi Group by 5.7% during 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. 86.62% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
APG has been the subject of several research reports. UBS Group lifted their price objective on APi Group from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Citigroup reissued a “buy” rating and set a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Truist Financial set a $55.00 price target on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and an average target price of $52.14.
APi Group Stock Performance
APi Group stock opened at $42.48 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44. The stock has a fifty day moving average of $43.99 and a two-hundred day moving average of $42.35. The company has a market capitalization of $18.40 billion, a price-to-earnings ratio of -59.83, a PEG ratio of 2.44 and a beta of 1.60. APi Group Corporation has a fifty-two week low of $31.95 and a fifty-two week high of $49.99.
APi Group (NYSE:APG – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.APi Group’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. On average, analysts anticipate that APi Group Corporation will post 1.7 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director James E. Lillie sold 225,539 shares of APi Group stock in a transaction on Monday, May 4th. The stock was sold at an average price of $44.87, for a total value of $10,119,934.93. Following the completion of the sale, the director owned 9,296,811 shares of the company’s stock, valued at $417,147,909.57. The trade was a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian G. H. Ashken sold 1,018,466 shares of APi Group stock in a transaction on Monday, May 4th. The shares were sold at an average price of $44.73, for a total value of $45,555,984.18. Following the completion of the sale, the director directly owned 9,542,818 shares of the company’s stock, valued at approximately $426,850,249.14. This represents a 9.64% 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. Over the last 90 days, insiders sold 6,444,000 shares of company stock valued at $271,537,645. Corporate insiders own 18.70% of the company’s stock.
APi Group Company 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.
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