Aristotle Atlantic Partners LLC Acquires New Position in APi Group Corporation $APG

Aristotle Atlantic Partners LLC acquired a new stake in APi Group Corporation (NYSE:APG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 474,756 shares of the company’s stock, valued at approximately $18,164,000. Aristotle Atlantic Partners LLC owned 0.11% of APi Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System lifted its stake in shares of APi Group by 0.3% in the fourth quarter. Arizona State Retirement System now owns 98,581 shares of the company’s stock valued at $3,772,000 after purchasing an additional 277 shares during the period. Silicon Valley Capital Partners increased its position in shares of APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares in the last quarter. Parallel Advisors LLC increased its position in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after buying an additional 297 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of APi Group by 0.3% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 103,073 shares of the company’s stock valued at $3,944,000 after buying an additional 303 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in shares of APi Group by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 82,817 shares of the company’s stock valued at $3,169,000 after buying an additional 314 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 1,018,466 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.73, for a total transaction of $45,555,984.18. Following the transaction, the director 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 225,539 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director directly owned 9,296,811 shares of the company’s stock, valued at approximately $417,147,909.57. This represents a 2.37% 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. Over the last 90 days, insiders have sold 3,444,000 shares of company stock valued at $148,897,645. Company insiders own 18.70% of the company’s stock.

APi Group Stock Performance

Shares of APG opened at $41.86 on Thursday. 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 company has a market capitalization of $18.13 billion, a price-to-earnings ratio of -58.95, a PEG ratio of 2.49 and a beta of 1.60. The company’s 50 day simple moving average is $43.98 and its 200 day simple moving average is $42.37. APi Group Corporation has a 1 year low of $31.95 and a 1 year high of $49.99.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, sell-side analysts predict that APi Group Corporation will post 1.7 EPS for the current year.

Analyst Upgrades and Downgrades

APG has been the subject of a number of research analyst reports. Wall Street Zen upgraded APi Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada raised their price target on APi Group from $45.00 to $53.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. UBS Group raised their price target on APi Group from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Citigroup reiterated a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Finally, Truist Financial set a $55.00 target price on APi Group and gave the company a “buy” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.14.

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.