SummitTX Capital L.P. Makes New $2.09 Million Investment in APi Group Corporation $APG

SummitTX Capital L.P. purchased a new position in shares of APi Group Corporation (NYSE:APG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 51,620 shares of the company’s stock, valued at approximately $2,092,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rathbones Group PLC boosted its holdings in shares of APi Group by 215.7% in the fourth quarter. Rathbones Group PLC now owns 211,909 shares of the company’s stock valued at $8,108,000 after buying an additional 144,789 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of APi Group by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,831,219 shares of the company’s stock worth $188,273,000 after acquiring an additional 92,816 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of APi Group by 75.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 68,108 shares of the company’s stock worth $2,606,000 after acquiring an additional 29,270 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in APi Group in the 4th quarter valued at $5,593,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in APi Group by 5,212.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 411,590 shares of the company’s stock valued at $15,747,000 after acquiring an additional 403,842 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on APG shares. UBS Group set a $52.00 target price on APi Group in a report on Monday, July 20th. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Citigroup reaffirmed a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Truist Financial set a $55.00 price objective on APi Group and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Robert W. Baird set a $52.00 target price on APi Group in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.17.

APi Group Trading Down 1.4%

Shares of APi Group stock opened at $39.37 on Wednesday. The stock has a market cap of $17.05 billion, a P/E ratio of -55.44, a P/E/G ratio of 2.33 and a beta of 1.60. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79. APi Group Corporation has a 12-month low of $33.40 and a 12-month high of $49.99. The business’s 50 day moving average is $41.47 and its 200-day moving average is $42.76.

APi Group (NYSE:APG) last released its earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. Equities research analysts predict that APi Group Corporation will post 1.71 earnings per share for the current fiscal year.

Insider Activity

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares in the company, valued at $809,637,126.08. This trade represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ian G. H. Ashken sold 65,534 shares of APi Group stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the completion of the transaction, the director directly owned 9,477,284 shares of the company’s stock, valued at approximately $431,121,649.16. This trade represents a 0.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,451,000 shares of company stock worth $149,194,935. 18.70% of the stock is owned by insiders.

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.