Geneva Capital Management LLC Purchases New Holdings in APi Group Corporation $APG

Geneva Capital Management LLC acquired a new position in APi Group Corporation (NYSE:APG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 151,819 shares of the company’s stock, valued at approximately $5,218,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of APG. Vanguard Group Inc. lifted its position in shares of APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after purchasing an additional 11,644,990 shares during the last quarter. Durable Capital Partners LP boosted its position in APi Group by 19.2% in the 2nd quarter. Durable Capital Partners LP now owns 10,623,568 shares of the company’s stock valued at $542,333,000 after buying an additional 1,712,397 shares during the period. Findlay Park Partners LLP raised its stake in shares of APi Group by 13.1% during the third quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company’s stock valued at $259,152,000 after acquiring an additional 873,420 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of APi Group by 49.5% in the third quarter. Artisan Partners Limited Partnership now owns 7,292,986 shares of the company’s stock valued at $250,660,000 after purchasing an additional 2,414,841 shares during the period. Finally, State Street Corp grew its stake in APi Group by 83.2% in the second quarter. State Street Corp now owns 7,150,845 shares of the company’s stock worth $365,051,000 after purchasing an additional 3,247,126 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Louis Lambert sold 22,000 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $44.71, for a total value of $983,620.00. Following the transaction, the senior vice president owned 16,148 shares of the company’s stock, valued at $721,977.08. This represents a 57.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James E. Lillie sold 100,888 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $44.30, for a total value of $4,469,338.40. Following the completion of the sale, the director directly owned 9,706,462 shares of the company’s stock, valued at $429,996,266.60. The trade was a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 682,000 shares of company stock valued at $29,693,385 over the last 90 days. 17.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

APG has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Truist Financial upped their target price on APi Group from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. UBS Group increased their target price on APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Barclays lifted their price target on APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, CJS Securities upgraded APi Group to a “strong-buy” rating in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.57.

APi Group Stock Up 0.1%

Shares of APG opened at $41.63 on Thursday. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of -55.01, a PEG ratio of 2.48 and a beta of 1.69. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The stock’s 50-day moving average price is $42.79 and its 200-day moving average price is $38.68. APi Group Corporation has a 52 week low of $20.50 and a 52 week high of $46.89.

APi Group (NYSE:APG) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, sell-side analysts predict that APi Group Corporation will post 1.83 EPS for the current year.

About APi Group

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.