Gibbs Wealth Management Makes New Investment in APi Group Corporation $APG

Gibbs Wealth Management acquired a new position in APi Group Corporation (NYSE:APG) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 13,681 shares of the company’s stock, valued at approximately $554,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in shares of APi Group in the 4th quarter valued at $27,000. Silicon Valley Capital Partners lifted its position in APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 286 shares in the last quarter. Parallel Advisors LLC boosted its stake 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 purchasing an additional 297 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in APi Group by 1,851.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in shares of APi Group by 14,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock worth $31,000 after buying an additional 736 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

Analyst Upgrades and Downgrades

APG has been the topic of a number of research analyst reports. Wall Street Zen raised APi Group from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Truist Financial set a $55.00 price objective on APi Group and gave the stock a “buy” rating in a research report on Friday, May 1st. Weiss Ratings lowered shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Barclays reissued an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, Citigroup reissued a “buy” rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, APi Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.17.

Insider Activity

In related news, Director Ian G. H. Ashken sold 65,534 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total value of $2,981,141.66. Following the transaction, the director owned 9,477,284 shares in the company, valued at $431,121,649.16. This trade represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,451,000 shares of company stock worth $149,194,935 over the last 90 days. 18.70% of the stock is currently owned by company insiders.

APi Group Price Performance

Shares of NYSE:APG opened at $39.58 on Friday. The business has a 50 day moving average price of $41.55 and a 200 day moving average price of $42.76. The company has a market cap of $17.15 billion, a price-to-earnings ratio of -55.74, a PEG ratio of 2.31 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 twelve month low of $33.40 and a twelve month high of $49.99.

APi Group (NYSE:APG) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The company 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 business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. Research analysts predict that APi Group Corporation will post 1.71 earnings per share for the current year.

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.