Westfield Capital Management Co. LP Makes New Investment in APi Group Corporation $APG

Westfield Capital Management Co. LP bought a new stake in APi Group Corporation (NYSE:APG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,453,355 shares of the company’s stock, valued at approximately $132,125,000.

A number of other large investors have also modified their holdings of the stock. Vise Technologies Inc. acquired a new stake in shares of APi Group in the fourth quarter valued at about $205,000. Pelham Capital Ltd. grew its stake in shares of APi Group by 23.4% in the fourth quarter. Pelham Capital Ltd. now owns 481,296 shares of the company’s stock valued at $18,414,000 after buying an additional 91,160 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of APi Group by 7.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 40,396 shares of the company’s stock valued at $1,546,000 after buying an additional 2,752 shares in the last quarter. State of Wyoming grew its stake in shares of APi Group by 4.0% in the fourth quarter. State of Wyoming now owns 24,705 shares of the company’s stock valued at $945,000 after buying an additional 951 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of APi Group by 13.8% in the fourth quarter. CIBC Asset Management Inc now owns 12,815 shares of the company’s stock valued at $490,000 after buying an additional 1,550 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial set a $55.00 target price on APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Royal Bank Of Canada increased their target price on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Robert W. Baird set a $52.00 target price on APi Group in a research note on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of APi Group in a research note on Tuesday, May 26th. Finally, Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.14.

APi Group Trading Up 0.3%

Shares of APG opened at $42.38 on Friday. The company has a market capitalization of $18.36 billion, a P/E ratio of -59.69, a P/E/G ratio of 2.48 and a beta of 1.60. APi Group Corporation has a one year low of $31.40 and a one year high of $49.99. 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 50-day moving average price of $43.78 and a 200 day moving average price of $42.09.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm 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 for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. Sell-side analysts forecast that APi Group Corporation will post 1.7 EPS for the current fiscal year.

Insider Activity at APi Group

In related news, Director Martin E. Franklin sold 3,000,000 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $40.88, for a total value of $122,640,000.00. Following the completion of the transaction, the director owned 21,240,426 shares of the company’s stock, valued at approximately $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ian G. H. Ashken sold 1,018,466 shares of the stock in a transaction dated 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 transaction, the director directly owned 9,542,818 shares of the company’s stock, valued at $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 4,444,000 shares of company stock valued at $187,377,645. Insiders own 18.70% of the company’s stock.

APi Group 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.